Topic Search

Resource Topics

Personal Finance

PRINT  |  E-MAIL

 

Financial Planning

The Coast Guard offers employees two types of financial counseling programs: CG SUPRT Finance Coaches and USCG Personal Finance Specialists.

CG SUPRT Financial Wellness
CG SUPRT offers money coaching, identity theft protection services, financial education and a private member website for tracking all your finances in one place. CG SUPRT also offers free tax filing for active duty members, reservists, full-time civil service employees, and their dependents. Call 1-1-855-CGSUPRT (247-8778) or visit their site. Schedule an appointment with a money coach.

 

USCG Personal Financial Management Program
The Coast Guard’s Health, Safety and Work-Life offices offer Personal Financial Managers. Commanding officers also appoint Command Financial Specialists to provide education, budgeting and information at the command level.

 

Coast Guard Personal Financial Management Program Fact Sheet 
Here’s a high-level overview of financial services available to you as part of the Coast Guard family. There’s information on money counseling, education and training, including information on how to become a certified financial specialist.

 

my Retirement paycheck 
Explore your retirement options and information that will assist you in the best use of your resources, so that 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.

 

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.

 

FINRED 
The Department of Defense Office of Financial Readiness Website has relevant and reliable information on various financial readiness topics.


Paying for Education

Tuition Assistance
The Coast Guard offers financial assistance to help active duty members to take classes at all academic institutions.

 

The GI Bill 
The GI Bill, provided through Veteran Affairs, offers training, and educational benefits to veterans, service members and their families. 

 

The Montgomery GI Bill Selected Reserve
is for Reservists with a six-year obligation. Here are a list of frequently asked questions about the GI Bill. Here is an additional resource about Reserve VA Education.

 

Coast Guard Foundation Scholarships 
The foundation provides educational funding support for Coast Guard members, as well as spouses and children of members and fallen heroes. The application period starts in January every year.

 

Coast Guard Mutual Assistance
CGMA has several education programs to help military family cover educational expenses for K-12 and beyond.

 

Military Spouse Friendly Colleges
Many U.S. colleges and universities – both public and private – offer tuition discounts for military spouses. Depending on the institution, spouses might be able to reduce their tuition costs by as much as 50 percent.

 

National Military Family Association
The association helps spouses fund their education, career and business goals, with scholarships ranging from $500 to $1,000.

 

DSST Exams

DSST exams are college subject tests that you can take to earn college credit for knowledge you acquired outside of a traditional classroom. There are 38 subject exams, and a passing score earns you upper-level college credits. The exam is free for eligible military members and spouses. Veterans eligible for the Post-9/11 GI Bill can be reimbursed for DSST exams.

 

Mango Language Program

Coast Guard members and their dependents can choose from more than 70 world languages and dialects, and take the self-paced course either desktop or mobile. The sponsor just needs to request the accounts by e-mailing Mango directly.

 

SkillPort (SkillSoft)
Members and civilians can get free training and education on a wide variety of topics (business, personal enrichment, computer software, and more). Spouses can also access the site once the member sets up their spouse’s account on a Coast Guard computer.

 

Credentialing Opportunities Online (CG Cool)
The Coast Guard helps cover the costs for members to get licensed or certified in many technical specialties; these credentials can expand your civilian career options in the future.


Taxes

Free Tax Filing 
CG SUPRT offers free tax filing for active duty members, reservists, full-time civil service employees, and their dependents. Call 1-1-855-CGSUPRT (247-8778) or visit their site.Access the H&R Block tax software through the link provided on the CG SUPRT website.

 

IRS Withholding Calculator 
Follow the Internal Revenue Service advice and use this IRS Withholding Calculator to make ensure you have the right amount of tax withheld from your paycheck.

 

Military Spouses Residency Relief Act 
For military spouses, residency can be complicated, however, now there is greater flexibility. This statute contains four amendments to the Service members Civil Relief Act (SCRA), one of which offers spouses of service members the option to elect the same residence as their service member, for purposes of taxation. Here is ADDITIONAL INFORMATION.


Debt and Credit

Consumer Financial Protection Bureau (CFPB) 
The consumer bureau is working to give consumers the information they need to understand the terms of their agreements with financial companies. Like a neighborhood cop on the beat, the CFPB supervises banks, credit unions, and other financial companies, and we will enforce Federal consumer financial laws.

 

FINRED 
The Department of Defense Office of Financial Readiness Website has relevant and reliable information on various financial readiness topics.

 

FDIC Money Smart 
Money Smart is a comprehensive financial education curriculum designed to help low and moderate-income individuals outside the financial mainstream enhance their financial skills and create positive banking relationships.

 

National Foundation for Credit Counseling (NFCC) 
NFCC is the Nation’s largest and longest servicing national nonprofit credit counseling organization. Coast Guard Mutual Assistance partners with NFCC and will pay reasonable fees for counseling services provided by Consumer Credit Counseling Services (CCCS) offices, nation-wide. To find a CCCS office near you, go to www.debtadvice.org/TakeTheFirstStep/locator.cfm, or call 800-388-2227.


Homebuying

Tools and Resources for Homebuyers  
The Consumer Financial Protection Bureau provides resources to protect yourself from home-buying scams and interest rates, closing tools including checklists and an overview guide.

 

VA Home Loans and Housing-Related Assistance 
VA Housing Assistance provides support to Veterans, service members, and their surviving spouses who want to purchase a home or refinance a loan. In addition, the organization can assist if you’re interested in renovating your current home.

 

The Homeowner’s Assistance Program 
The Homeowner’s Assistance Program provides financial aid to wounded, injured, ill, and surviving spouses and BRAC-impacted personnel. This service is provided by the US Army Corps of Engineers.


Contacts

Contact your Servicing Assignment Representative

Contact your Command Staff Advisor

Contact your Personal Financial Manager