Personal Financial Management Program (PFMP)

Start Here If You Are New to PFMP

PERSONAL FINANCIAL MANAGEMENT PROGRAM (PFMP) is the installation-based financial counseling and education program for Marines and families. PFMP provides INDIVIDUAL FINANCIAL COUNSELING, BUDGET DEVELOPMENT, DEBT MANAGEMENT support, MAJOR LIFE EVENT FINANCIAL PLANNING, and TSP and SGLI counseling. PFMP coordinates with NAVY-MARINE CORPS RELIEF SOCIETY (NMCRS) for emergency financial assistance. PFMP delivers REQUIRED PRE-DEPLOYMENT financial readiness counseling. PFMP also supports financial counseling at major life events (marriage, baby, divorce, PCS, deployment, retirement). Services are FREE to Marines and family members. Counselors are professionally certified. Per MCO 1740.13MCO 1740.13 and Marine Corps Community Services policy.

This page walks you through PFMP from your seat as a Marine. By the end you will know.

• What PFMP provides
• Who is eligible
• Individual financial counseling
• Budget development assistance
• Debt management and reduction
• Major life event financial planning
• TSP and SGLI counseling
• Pre-deployment financial readiness
• NMCRS coordination for emergency assistance
• How to access PFMP
• Common financial issues PFMP addresses

Every fact on this page comes from MCO 1740.13MCO 1740.13, DoDI 1322.34DoDI 1322.34, DoDD 1344.07DoDD 1344.07, Marine Corps Community Services published guidance, and Navy-Marine Corps Relief Society policy.

What PFMP Is

PFMP is the Marine Corps' financial readiness program at the installation level. PFMP exists to.

• Improve financial literacy of Marines and families.
• Provide professional financial counseling at no cost.
• Support major life event financial planning.
• Reduce financial stress that affects mission readiness.
• Build long-term wealth and retirement readiness.

Why PFMP Matters

• Financial stress is a leading cause of family conflict and Marine career problems.
• Young Marines often arrive without strong financial education.
• Frequent moves and deployment income variations create planning challenges.
• Financial decisions at retirement profoundly affect post-service life.

Who Is Eligible

PFMP services are available to.

• Active duty Marines.
• Reserve Marines.
• Family members of Marines.
• DoD civilian employees at Marine Corps installations.
• Sometimes retired Marines (varies by installation).

All services are FREE.

Individual Financial Counseling

What Individual Counseling Provides

• Confidential one-on-one sessions with a certified financial counselor.
• Review of current financial situation.
• Specific recommendations.
• Action plan development.
• Follow-up sessions as needed.

Counselor Qualifications

PFMP counselors hold professional certifications such as.

• Accredited Financial Counselor (AFC).
• Certified Financial Planner (CFP).
• Other professional credentials.

How To Schedule

• Walk-in appointments at MCCS PFMP office at most installations.
• Online scheduling through MCCS website.
• Telephone scheduling.

What To Bring

• Recent LES (3 months).
• Bank statements (3 months).
• Credit report (annual free copy from annualcreditreport.com).
• Bills and debt statements.
• Tax returns (most recent 1-2 years).
• Specific questions or goals.

Budget Development

Why Budgeting Matters

• Without a budget, money decisions are reactive.
• Budgets enable saving, debt reduction, and goal achievement.
• Military pay structure (BAH, BAS, special pays) requires deliberate budgeting.

Budget Development Process

• Track current spending for 30-60 days.
• Categorize expenses (needs vs wants).
• Identify income sources (LES line by line).
• Build target budget aligned with goals.
• Implement and monitor.
• Adjust as needed.

Common Budget Categories

• Housing (BAH-funded for most off-base Marines).
• Food (BAS-funded if BAS is paid).
• Transportation (vehicle, insurance, gas).
• Insurance (auto, life, others).
• Debt payments.
• Savings (emergency fund, TSP, other).
• Discretionary (dining, entertainment, travel).
• Family expenses (children, pets).

Budgeting Tools

• PFMP recommended budgeting templates and apps.
• Personal finance software (YNAB, Mint, etc.).
• Spreadsheet templates available through MCCS.

Debt Management

Common Debt Issues

• Credit card debt at high interest.
• Auto loans (often high cost for young Marines).
• Predatory lending (payday loans, vehicle title loans).
• Student loans.
• Medical debt.

Servicemembers Civil Relief Act (SCRA) Protections

SCRA provides interest rate caps and other protections for service members on debt incurred BEFORE active duty.

• Maximum 6 percent interest on pre-service debt.
• Other protections including stay of foreclosure and eviction.
• See Legal Services Overview for detail.

Military Lending Act (MLA)

MLA caps interest at 36 percent (Military APR) for many consumer credit products to active duty service members and dependents.

Debt Reduction Strategies

PFMP helps develop strategies including.

• Debt snowball (pay smallest debts first for motivation).
• Debt avalanche (pay highest interest first for math optimization).
• Debt consolidation (when appropriate).
• Negotiation with creditors.
• Bankruptcy referral (last resort, with Legal Services).

Avoiding New Debt

• Cash for discretionary purchases.
• Waiting periods before major purchases.
• Researching alternatives to debt-financed purchases.

Major Life Event Financial Planning

Marriage

• Combining finances or maintaining separate accounts.
• BAH change to with-dependents rate.
• TRICARE for spouse.
• SGLI beneficiary update.
• Joint debt and credit considerations.
• Estate planning basics.

Baby

• Child-related expense planning.
• TRICARE for newborn (60-day automatic, then enrollment).
• 529 college savings plan considerations.
• SGLI beneficiary or trust considerations.
• Updated will.

Divorce

• Asset division.
• Debt allocation.
• Child support and BAH-Diff implications.
• USFSPA considerations for retired pay division.
• SGLI beneficiary update.
• New estate planning.

PCS

• Relocation cost planning.
• Spouse employment income gap.
• Housing transition (sell, rent, buy at new location).
• Auto sale or transport.

Deployment

• Combat zone tax exclusion (CZTE) planning.
• Special pay implications (HFP/IDP, FSA, etc.).
• Allotment setup.
• Spouse access to accounts and authority.
• Pre-deployment debt reduction.
• Savings Deposit Program (SDP) for deployed Marines.

Retirement

• BRS vs Legacy retirement system implications.
• TSP withdrawal strategies.
• Survivor Benefit Plan election.
• VA disability claim pursuit.
• Civilian career income gap planning.
• Healthcare transition (TRICARE for retirees, ACA, employer-sponsored).

TSP and SGLI Counseling

Thrift Savings Plan (TSP)

• Contribution recommendations.
• BRS automatic and matching contributions.
• Fund selection (G, F, C, S, I, L funds).
• Roth vs Traditional considerations.
• Withdrawal options at retirement.
• Loans and hardship withdrawals (when and when not).

SGLI and VGLI

• Coverage levels (up to $500,000).
• Spouse coverage (Family SGLI / FSGLI).
• Beneficiary designation considerations.
• VGLI transition at separation.
• Long-term life insurance planning.

See SGLI and VGLI for detail.

Pre-Deployment Financial Readiness

PFMP delivers REQUIRED pre-deployment financial readiness counseling.

What Pre-Deployment Counseling Covers

• Pay during deployment (special pays, CZTE).
• Allotments setup for family bills.
• Spouse access to accounts.
• Power of Attorney coordination with Legal Services.
• Pre-deployment debt reduction goals.
• SDP enrollment.

Why It Matters

• Many Marines accumulate debt during first deployments through poor planning.
• Spouses left without account access face crisis situations.
• Poor pre-deployment financial planning creates post-deployment debt.

When Conducted

• During pre-deployment training cycle.
• Coordinated through unit FRO and S-1.

Navy-Marine Corps Relief Society (NMCRS) Coordination

What NMCRS Provides

NMCRS is a private non-profit providing emergency financial assistance to Marines and Sailors.

• Interest-free loans for emergencies.
• Grants for specific qualifying situations.
• Budget counseling.
• Education loans and scholarships.
• Quick Assist Loans for very small emergencies.

When To Use NMCRS

• Emergency travel for family illness or death.
• Vehicle repair when transportation is essential.
• Rent or utility shortfall.
• Other genuine emergency situations.

How NMCRS Works With PFMP

• PFMP often refers to NMCRS for emergency funds.
• NMCRS loans are interest-free with reasonable repayment terms.
• NMCRS coordinates with PFMP for ongoing financial counseling.

NMCRS Fund Drive

• Annual fund drive sustains NMCRS operations.
• Marines voluntarily contribute (allotment-based or one-time).
• Marines who use NMCRS often become regular contributors.

How To Access PFMP

Step 1. Find Your Installation PFMP Office

• Through MCCS website.
• Through your unit FRO.
• Through installation directory.

Step 2. Schedule Initial Appointment

• Walk-in often available.
• Phone or online scheduling.

Step 3. Prepare Documents

• LES, bank statements, credit report, bills, tax returns.

Step 4. Attend Counseling

• One hour typical for initial session.
• Confidential.
• Action plan provided.

Step 5. Follow-Up

• Schedule follow-up sessions for accountability.
• Use other PFMP resources (workshops, online tools).

Common Financial Issues PFMP Addresses

Living Paycheck to Paycheck

Marines who spend everything they make.

PFMP approach. Track spending, build budget, identify discretionary cuts, build emergency fund.

High Credit Card Debt

Marines with multiple cards at high interest.

PFMP approach. Inventory debt, develop reduction plan, negotiate with creditors, transfer balances if appropriate.

Predatory Lending Trap

Marines using payday loans, title loans, or other predatory products.

PFMP approach. NMCRS Quick Assist Loan as alternative, debt consolidation, refer to Legal Services if predatory practices violated MLA.

Auto Loan Mistakes

Marines purchase expensive vehicles immediately upon arrival, often financed at high rates from on-base or near-base dealers.

PFMP approach. Pre-purchase counseling, credit union refinancing, total cost of ownership analysis.

Marriage Financial Conflict

Couples disagree on spending, saving, or debt.

PFMP approach. Couples financial counseling, joint budget development, communication training.

Pre-Retirement Unpreparedness

Marines approaching retirement realize TSP balance is small and savings inadequate.

PFMP approach. Catch-up planning, second-career income planning, retirement income calculations.

Common Failure Points

Avoiding Counseling Out Of Embarrassment

Marines feel embarrassed about financial issues and avoid PFMP.

Mitigation. PFMP is confidential and judgment-free. Counselors have seen everything. Issues only get worse with avoidance.

Treating PFMP As One-And-Done

Marines have one session and never return.

Mitigation. PFMP is most effective with ongoing engagement. Schedule follow-ups for accountability.

Not Updating Plan After Major Changes

Plan from years ago no longer reflects current situation.

Mitigation. Return to PFMP at every major life event.

Failing to Coordinate With Spouse

Marine attends PFMP alone. Spouse unaware of plan.

Mitigation. Couples financial counseling more effective. Ensure spouse engagement.

Ignoring Pre-Deployment Counseling

Marines treat pre-deployment financial counseling as a check-the-box.

Mitigation. Engage substantively. Implement recommendations.

Cross References

• For overall MF framework, see Marine and Family Programs Overview and Authorities
• For Family Readiness Services framework, see Family Readiness Services (UPFRP)
• For SGLI specifics, see SGLI and VGLI
• For TSP details, see TSP and Savings (when available)
• For SCRA and consumer protections, see Legal Services Overview
• For TRP financial component at separation, see Transition Readiness (when available)

Quick Reference

• Authority. MCO 1740.13MCO 1740.13 and DoDI 1322.34DoDI 1322.34.
• Cost. Free.
• Eligibility. Active duty, reserve, family members, DoD civilians.
• Counselor credentials. AFC, CFP, or equivalent.
• Emergency assistance. Navy-Marine Corps Relief Society (NMCRS).
• Pre-deployment. Required counseling.
• Location. Installation MCCS PFMP office.

Records To Keep

• PFMP appointment records and counselor recommendations
• Budget worksheets and updated versions
• Debt reduction tracking
• Credit reports (annual review)
• Major life event financial decisions documentation
• NMCRS loan or grant correspondence

If you have a question about PFMP, your installation MCCS office is your first contact. For emergency financial assistance, contact NMCRS at the local office or 800-654-8364.