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Benefit

Financial Counseling

Benefit overview

If budgeting, paying off debt or saving for college or retirement make you feel overwhelmed, know that you don’t need to tackle these financial issues alone. Military OneSource financial counselors are here to support you with free, solution-focused confidential counseling, helping you take control of your finances and feel confident about your decisions.

Financial counseling gives you an opportunity to talk to a trained professional who understands military life and finances. You can get your questions answered and receive referrals to services and programs that meet your specific needs.

Service members and eligible family members, including spouses, can access financial counseling for free from anywhere in the world. We provide financial counseling in four different ways:

  • In person
  • Telephone
  • Secure online chat
  • Secure video sessions

How this benefit helps

Financial stability helps reduce stress, build confidence and keep you focused on what matters most. We can help you:

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Evaluate programs and plans

Get support in evaluating savings programs, retirement and investment plans, and college savings and payment options.

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Learn to talk to creditors

Military OneSource financial counselors can help you learn to talk to creditors and negotiate things such as late fees, payment plans and foreclosures.

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Learn personal finance basics

Counselors can go over your finances and suggest ways to pay down debt. They can also teach you about savings, managing your checking account, investments and making a family budget.

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Educate you on consumer rights

Financial counselors can provide information on consumer rights and make appropriate referrals to military and civilian resources responsible for resolving credit report complaints.

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Learn about military savings programs

Counselors can go over a variety of savings, retirement and investment plans with you and talk about the pluses and minuses of each.

 

Frequently asked questions

Find answers to your questions about financial counseling.

Counseling covers financial issues such as basic budgeting, money management, debt consolidation (including coaching to help people contact their creditors and negotiate late fees, interest rates and affordable payment plans) and assistance with housing issues (being behind on mortgage payments or facing potential foreclosure).

There is no limit to the number of financial counseling sessions you can receive. Service members and their spouses may also attend counseling sessions together.

The goal of short-term, solution-focused counseling is to help individuals move forward rather than focusing on past challenges. Using this goal-oriented strategy, helps people identify financial issues and then make progress with clear, realistic resolutions.

Contact Military OneSource at 800-342-9647 to schedule a counseling session. You can also log in or create a free account to start a secure live chat.

While financial counselors can’t tell you which plan is the best fit for your personal situation, they will educate you on the types of plans available, describing the advantages and disadvantages of each.

Financial counseling can assist with basic money management. Our certified financial planners can help with reviewing savings plans, investing plans, stocks, bonds and retirement plans. Financial planners can help inform you about the advantages and disadvantages of different savings plans and methods, but they won’t recommend one over the other.

If you live overseas or in an area where in-person financial counseling is not available, you can schedule an appointment to meet with a financial counselor by phone or a secure audio or video connection.

Financial counseling is provided by highly qualified, AFC-certified financial counselors through Military OneSource. Counseling is available by appointment by phone, face-to-face or through a secure, real-time audio or video connection.

In-person financial counseling is available in most locations. To receive in-person counseling at no cost, Military OneSource must arrange your appointment with a financial counselor in your community.

No. Military OneSource financial counselors do not sell or promote products or agendas.

How to access this benefit

Military OneSource is available 24/7 to connect you with a financial counselor. Call 800-342-9647 to speak with a counselor or to schedule an appointment. You can also log in to start a secure live chat. Living overseas? View international calling options.

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Release 5.26.20