Story Number: NNS140221-17Release Date: 2/21/2014 3:24:00 PM
By Mass Communication Specialist 3rd Class Wesley T. Buckett, USS Abraham Lincoln Public Affairs
NEWPORT NEWS, Va. (NNS) -- Sailors from the Nimitz-class aircraft carrier USS Abraham Lincoln (CVN 72) joined Sailors from other area commands for a "Million Dollar Sailor" financial planning course at Fleet and Family Support Center (FFSC) in Newport News, Feb. 20.
The course is designed for service members and their families who want to become more financially stable. The class covered topics such as financial goal setting and implementation, debt reduction, saving, investing and long-term wealth building.
"The Million Dollar Sailor program is used to educate Sailors on properly managing their finances," said Faye Smith, an accredited financial counselor for the FFSC.
According to Smith, with the course's training, Sailors and their families can develop skills to benefit themselves and give them the knowledge they need to stay stable for the rest of their lives.
"Sailors are encouraged to bring their spouses to the classes," said Smith. "This is important as well because while Sailors are deployed, their spouses can continue to properly manage the finances."
Operations Specialist Seaman Edgar Barraza, a Lincoln Sailor, explained why he signed up for the program.
"My department was where I first heard of the program and I was immediately interested," said Barraza. "Hopefully this will allow me to manage my finances more efficiently to stay out of debt. I learned a few things about money handling that I didn't know before."
The two-day interactive program was developed by getting a wide range of ideas from several professionals from different areas.
"This program originated in Pearl Harbor, Hawaii from a financial counselor who wanted to give Sailors an overall picture about where their money is going and he helped develop it," said Smith. "He coordinated with developers in other areas to get this program off the ground and it's been great so far."
The course is one of 16 Personal Financial Management Programs offered at FFSC. Any service member who is interested in learning how to take better care of their money can take the course.
"With tools learned from the program, a Sailor could potentially be a millionaire by the time they plan to retire from the Navy," said Smith.
Lincoln is currently undergoing refueling and complex overhaul (RCOH) at Newport News Shipbuilding, a division of Huntington Ingalls Industries.
Lincoln is the fifth ship of the Nimitz class to undergo an RCOH, a major life-cycle milestone. Once RCOH is complete, Lincoln will be one of the most modern and technologically advanced Nimitz-class aircraft carriers in the fleet and will continue to be a vital part of the nation's defense.
For more news from USS Abraham Lincoln (CVN 72), visit www.navy.mil/local/cvn72/.