Personal Financial Management

Managing money in today's marketplace can be challenging. Frequent deployments, separation from extended families, numerous moves, and unanticipated emergencies drain the resources of military families. The US Coast Guard's Personal Financial Management Program (PFMP) has the resources to assist families in many PFMP areas. Such areas include budgeting, credit and debt assistance, consumer awareness, retirement planning, and the list goes on.

The following resources are available for assistance:

Personal Financial Managers (PFM):

Personal Financial Managers (PFM) are assigned to the Work-Life Staff at each Health Safety and Work-Life Regional Practice (HSWL-RP).  PFMs provide financial education and financial counseling to help achieve financial goals and address any financial difficulties. PFMs also provide support with obtaining resources that may assist with resolving financial issues. Your Local PFMs are the subject matter expert in all areas of personal finances.  Areas that are normally addressed with the PFMs include:

• Retirement and Estate Planning Strategies
• Thrift Savings Plan (TSP) Questions
• Home and Car Buying Strategies
• Debt Reduction and Credit Management Strategies
• Transitional and Security Clearance Challenges
• Service Member Civil Relief Act Questions
• Goal Setting and Spending Plans

Command Financial Specialists (CFS):

The Command Financial Specialist (CFS) is the unit’s point of contact on policies and matters pertaining to Personal Financial Management Program (PFMP).

A designated CFS or Assistant CFS has successfully completed the US Navy Or Coast Guard Command Financial Specialist Training Course. Once formally designated in writing by the command, the CFS is authorized to provide the following financial services:

• Provide basic financial services to include spend plans, general debt repayment plans using the Financial Planning Worksheet, and a free FICO credit score.
• Disseminate approved financial resource information and referrals.
• Conduct unit training and workshops on various financial topics, including debt management, spending plans, Investing basics, wise use of credit, and more.

CG SUPRT - https://www.cgsuprt.com/ or 855-CG SUPRT 855-247-8778 CG SUPRT Personal Financial Wellness

The CG SUPRT Personal Financial Wellness Program provides onsite classes, webinars, and telephonic money coaching for USCG members, civilians, select reservists, and their family members.  Advantages for using CG SUPRT includes their distance learning and distance counseling platforms.  Additionally, their on-site financial classes help support the District PFM’s financial training.

A variety of financial classes are offered by CG SUPRT’s webinars.  Free tax filing with H&R Block is also available through CG SUPRT’s website.  Money coaching sessions are held over the telephone and use a holistic approach in financial counseling covering goal setting, budget planning, debt management, investment and retirement planning, and estate planning.

Coast Guard Mutual Assistance (CGMA) - https://mycgma.org/

The central purpose of Coast Guard Mutual Assistance is to assist their clients during their time of financial need. In general, assistance is provided through counseling, short-term interest-free loans, financial grants, referrals, and other related means.

Assistance is provided under a large variety of conditions and situations usually involving everyday essentials including emergency, housing, and medical needs that are beyond the individual's ability to meet at the time assistance is requested. Coast Guard Mutual Assistance should be used to supplement, not replace other forms of available assistance.

Assistance is provided under a large variety of conditions and situations usually involving everyday essentials including emergency, housing, and medical needs that are beyond the individual's ability to meet at the time assistance is requested. Coast Guard Mutual Assistance should be used to supplement, not replace other forms of available assistance.