Attorney General Alerts

    Financial Planning for Military Service Members and Families


    December 14, 2016

    Military servicemen and women are tasked daily with protecting our freedoms, and the holiday season is no different. While these brave men and women face many of the same financial hardships as other families do, they also are confronted with unique challenges because of circumstances, like frequent relocations and deployments.

    The Federal Trade Commission (FTC) recently unveiled a new website to help service members and their families manage their personal finances.

    Arkansas Attorney General Leslie Rutledge issued today’s consumer alert to educate military families as we enter a new year and plan a new budget.

    “Financial planning can be difficult and overwhelming,” said Attorney General Rutledge. “But it can be even more cumbersome when military service members are receiving change of station or deployment orders. The Servicemembers Civil Relief Act protects these men and women from being taken advantage of. This new website provides a financial readiness toolkit and resources for best fiscal practices.”

    Military.Consumer.gov, which is designed for mobile devices, provides information on the following topics to help military families manage their finances:

    • How to control spending
    • How to use military experience and benefits to increase earning potential
    • How to borrow, use credit and manage debt
    • How to save and invest to make today’s paychecks last into the future
    • How to protect money and financial and account information.

    The FTC created Military.Consumer.gov by teaming up with the Department of Defense, Consumer Financial Protection Bureau, Military Saves and other agencies.

    The website also provides tips for personal financial managers helping military servicemen and women prepare for the future.

    Arkansas military service members, veterans and families can file consumer complaints with the Attorney General’s office on ArkansasAG.gov or by calling (800) 482-8982.

    For more information and tips to avoid scams and other consumer related issues, contact the Arkansas Attorney General’s office at (800) 482-8982 or consumer@arkansasag.gov or visit ArkansasAG.gov or facebook.com/AGLeslieRutledge.

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