Office of Work-Life Programs : Personal Financial Management Program (PFMP)
Who is Eligible for this Program?
The PFMP is available to the following members of the Coast Guard
- Active Duty, Select Reservists, and their family members
- Civil Service employees
- Exchange System and MWR employees
Purpose of Program
According to the National Financial Capability Study – Military Survey – Executive Summary (2010), “Financial problems also can have a direct impact on military readiness. Military personnel, who experience serious financial problems can lose their security clearance, face criminal sanctions or be discharged from the military”. The PFMP is responsible for ensuring the necessary financial information and resources are available to Coast Guard personnel and their family members to prevent these situations and others from happening.
Discussions of individual personal finances are confidential.
Services and Resources Available
- Personal Financial Managers (PFMs):
PFMs are a part of the Work-Life staff at each Health, Safety, and Work-Life Regional Practice (HSWL-RP). If a PFM is not available at your location, the Personal Financial Management Coordinator (PFMC) at the HSWL-RP can assist you with obtaining resources to assist with financial hurdles.
- Command Financial Specialists (CFS):
CFSs are members of the military who have been appointed by the commanding officer to provide financial education and training, counseling and information referral at the command level. The CFS should be the first stop for the Military member who has questions or issues about financial readiness. CFSs are located at most units throughout the Coast Guard. Please contact your HSWL RP or CO/OIC to locate a CFS in your unit/area.
- CG SUPRT: www.CGSUPRT.com or 1-855-CG SUPRT (247-8778)
- Commandant Instruction 1740.8: Coast Guard Personal Financial Management Program
- Qualified Non-Government Educators and Materials:
The following websites provide information related to PFMP -
DISCLAIMER: Links to non-federal entities are provided as an administrative convenience. The Coast Guard cannot and does not endorse any of the linked non-federal entities, their products, or their services
- Emergency Assistance:
- Coast Guard Mutual Assistance - CGMA offers emergency financial assistance and many types of financial counseling. To learn more about these services visit the Coast Guard Mutual Assistance web site.
- Military Saves - Military Saves is a social marketing campaign to persuade, motivate, and encourage military families to save money every month, and to convince leaders and organizations to be aggressive in promoting automatic savings.
- Debt & Credit Assistance
- National Foundation for Credit Counseling (NFCC) - A great site for useful information and services related to debt management. NFCC is the nation's largest and longest serving national nonprofit credit counseling organization. Coast Guard Mutual Assistance has long partnered with NFCC and will pay reasonable fees for counseling services provided by their member agencies, Consumer Credit Counseling Service (CCCS) offices, nation-wide. To find a CCCS office near you go to www.debtadvice.org/TakeTheFirstStep/locator.cfm or call 1-800-388-2227.
- Consumer Awareness/Affairs:
- Tax Information
- IRS Withholding Calculator Follow the Internal Revenue Service advice and use this IRS Withholding Calculator to make sure you have the right amount of tax withheld from your paycheck.
- Homebuyers Resources:
- Tools and Resources for Homebuyers: These tools and resources can provide service members, veterans, and their families’ answers to home buying and loan options questions.
- VA Home Loans and Housing-Related Assistance VA housing assistance can help Veterans, service members, and their surviving spouses to buy a home or refinance a loan. The VA also offer benefits and services to help you build, improve, or keep your current home.
- my Retirement paycheck - Explore your retirement decisions. Gives you information to assist in making wise decisions that will make your resources go further so you can enjoy greater financial well-being in retirement.
- SaveAndInvest.org - Unbiased financial tools and information for military families and all investors from the FINRA Foundation.
- Thrift Savings Plan (TSP) - The Thrift Savings Plan (TSP) is a retirement savings and investment plan for Federal employees and members of the uniformed services, including the Ready Reserve. It was established by Congress in the Federal Employees' Retirement System Act of 1986 and offers the same types of savings and tax benefits that many private corporations offer their employees under 401(k) plans.
Point of Contact
Please contact your PFM on your Regional Work-Life Staff at 1-800-872-4957. If additional assistance is needed, please contact Office of Work-Life HQ at HQS-SMB-FamilySupportServices@uscg.mil.