PERSONAL FINANCIAL MANAGEMENT 1740.5A
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OPNAVINST 1740.5A
(30 JAN 2002) - PERSONAL FINANCIAL MANAGEMENT EDUCATION, TRAINING, AND COUSELING PROGRAM
- WHAT FINANCIAL ISSUES HAVE A DIRECT IMPACT ON READINESS AND RETENTION OF THE NAVY?
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1)HIGH COST OF LIVING
2)PREVALENCE OF EASY CREDIT
3)HIGH PRESSURE SALES TACTICS
4)CLEVER AVERTISING TECHNICQUES
5)UNDISCIPLINED BUYING
6)CONSUMER RIP-OFFS - WHO HAS RESPONSIBILITY TO ENCOURAGE FINANCIAL RESPONSIBILITY AND SOUND FINANCIAL PLANNING?
- COMMANDING OFFICER (C0)
- WHAT 3 MAJOR ELEMENTS CREATE PERSONAL FINANCIAL MANAGEMENT (PFM)?
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1)FINANCIAL EDUCATION AND TRAINING
2)FINANCIAL INFORMATION AND REFERRAL
3)FINANCIAL COUNSELING - THE THREE ELEMENTS OF THE PERSONAL FINANCIAL MANAGEMENT PROGRAM UNDER WHOSE CONTROL?
- UNDER A TRAINED COMMAND FINANCIAL SPECIALIST (CFS)
- WHAT IS THE RATIO OF COMMAND FINANCIAL SPECIALISTS (CFS)TO PERSONAL ATTACHED TO THE COMMAND?
- 1 CFS TO EVERY 75 ACTIVE DUTY MEMBERS INCLUDING THOSE ASSIGNED TAD, TAD UNDER INSTRUCTION, AND MEMBERS FROM OTHER SERVICES.
- WHAT IS THE POLICY REGARDING PERSONAL FINANCIAL MANAGEMENT?
- NAVY SHALL PROMOTE OPERATIONAL READINESS, PERSONAL RESPONSIBILITY, RELIABLILITY, AND MORAL, BY PROVIDING KNOWLEDGE, SKILLS AND ACOUNSELIGN TO ITS MEMBERS REGARDING SOUND PFM.
- WHEN DOES EDUCATION AND TRAINING REGARDING FINANCIAL MANAGEMENT START?
- RECRUIT TRAINING
- WHAT IS THE PURPOSE OF INFORMATION AND REFERRALS?
- TO RAISE AWARENESS, AND KEEP MEMBERS ADVISED OF THE LATEST CONCERNS AND ASSISTANCE AVAILIBLE.
- WHO CAN COUNSEL A NAVY MEMBERS?
- A QUALIFIED COMMAND FINANCIAL SPECIALIST (CFS) EXPERIENCING FINANCIAL DIFFICULTIES OR SEEKING INFORMATION ON PERSONAL FINANCIAL MANAGEMENT CONCERNS.
- WHO IS REQUIRED TO BE FAMILIAR WITH PERSONAL FINANCIAL MANAGEMENT (PFM) PROGRAMS POLICIES, OBJECTIVES, AND ASSISTANCE RESOURCES?
- ALL NAVY MEMBERS SHALL SUPPORT THEIR SHIPMATES BY SHARING THIS INFORMATION WITH THOSE WHO NEED IT.
- WHAT PAYGRADE CAN BE APPOINTED COMMAND FINANCIAL SPECIALIST (CFS)?
- MINIMUM PAYGRADE OF E6 FOR ENLISTED AND W2/01 FOR OFFICERS
- WHAT IS THE MINIMUM LENGTH OF DUTY FOR A COMMAND FINANCIAL SPECIALIST (CFS)?
- MUST HAVE AT LEAST ONE(1) REMAINING AT THE COMMAND AT TIME OF CFS COURSE COMPLETION.
- HOW OFTEN MUST REFRESHER TRAINING BE COMPLETED FOR COMMAND FINANCIAL SPECIALISTS (CFS)?
- AT LEAST EVERY THREE YEARS.
- WHERE DO MEMBERS WITH SERIOUS FINANCIAL PROBLEMS GET REFERED TO?
- FLEET AND FAMILY SUPPORT CENTER, NMCRS, FEDERAL CREDIT UNIONS, NON-PROFIT CONSOLIDATED CREDIT COUNSELING SERVICES.
- HOW OFTEN DOES THE COMMAND FINANCIAL SPECIALIST (CFS) REPORT TO THE COMMANDING OFFICER?
- REPORTS QUARTERLY REGARDING EDUCATIONAL AND COUSELING CONDUCTED. ALSO REPORTS QUARTERLY TO THE CFS REPORTING WEBSITE(SEE ENCLOSURE-1, 1740.5A)
- WHO IS THE PROGRAM SPONSER OF PERSONAL FINANCIAL MANAGEMENT PROGRAM POLICY?
- DEPUTY CHIEF OF NAVAL OPERATIONS (MANPOWER AND PERSONNEL)(DCNO (MP))(N1)
- WHO SHALL IMPLEMENT AND COORDINATE THE PERSONAL FINANCIAL MANAGEMENT PROGRAM?
- COMMANDER, NAVY PERONNEL COMMAND THROUGH ASSISTANC COMMANDER NAVY PERSONNEL COMMAND FOR PERSONAL READINESS AND COMMUNITY SUPPROT AS PROGRAM MANAGER.
- UNIT COMMANDERS, COs, AND OICs SHALL APPOINT HOW MANY COMMAND FINANCIAL SPECIALISTS (CFS) FOR THEIR COMMAND?
- MINIMUM OF ONE COMMAND MEMBER PER 75 ACTIVE DUTY MILIATRY PERSONNEL. (ENCLOSURE-1 PROVIDES QUALIFICATIONS CRITERIA)
- WHO IS REQUIRED TO ATTEND MANDATORY PERSONAL FINANCIAL MANAGEMENT (PFM) COUNSELING?
- ANY MEMBER THAT IS SUBJECT OF A BAD CHECK REPORT OR LETTER OF INDEBTEDNESS.
- WHAT TYPE OF DUTY CORRESPONDS TO BEING ASSIGNED A COMMAND FINANCIAL SPECIALIST (CFS)?
- COLLATERAL DUTY ONLY
- WHAT TSERVICES DOES A COMMAND FINANCIAL SPECIALIST (CFS) PROVIDE?
- FINANCIAL EDUCATION, COUNSELING, TRAINING, AND INFORMATION AND REFERRALS.
- HOW OFTEN DOES THE FLEET AND FAMILY SUPPORT CENTER(FFSC) /MOBILE TRAINING TEAM(MTT) PROVIDE TRAINING?
- MINIMUM OF OEN(1) CLASS PER QUARTER AND 25 STUDENT QUOTAS PER CLASS, USING NAVPERS 15608C, CFS INSTRUCOR GUIDE AND CFS TRAINING MANUAL.
- WHAT REFERENCE COVERS COMMAND FINANCIAL SPECIALIST (CFS) RESPONSIBILITIES?
- OPNAVINST 1740.5A
- IS A DESIGNATION LETTER REQUIRED TO BE APPOINTED A COMMAND FINANCIAL SPECIALIST (CFS)?
- YES, REQUIRED TO INPUTTED IN MEMBERS SERVICE RECORD, ALONG WITH COPY FORWARDED TO SERVICING FLEET AND FAMILY SUPPORT VRNYRT.