A&FRC

AIRMAN & FAMILY READINESS CENTER

55 South Mitchell Street Building 677 334-953-2353

Find Us on Facebook at 42 FSS Airman & Family Readiness

Right Start (Virtual) “Orientation for Newcomers” 1 October, 0900–1100 First Duty Station Officer (Virtual) 2 October, 1000-1200 PCS Financial Briefing (Virtual) 2 October, 1330-1415 Promotion Financial Brief (Virtual) 2 October, 1430-1500 Retirement Planning (Virtual) 2 October, 1515-1600 Pre–Separation Brief & TAP 3 Day Workshop (ONLINE ONLY) 5–7 October, 0800–1600 Relocation Virtual Chat 1st and 3rd Wednesday of October, 0900 Develop A Spending Plan (Virtual) 5 October, 1000-1100 2020 Social Security Tax Deferral Q&A Virtual Chat - 6 October 1000-1100 Military Kids Rock in Resiliency! 7 October, 1000–1100 Take Control of Your Finances (Virtual) 7 October 1100-1200 First Duty Station Officer (Virtual) 9 October, 1000-1200

TIPS FOR HOLIDAY SPENDING

1. Make A Plan And Stick To It Make a budget based on your income. Decide what is do-able and what is not.

potential reason for overspending. 2. Don't Spend What You Don’t Have

suggesting what everyone else is Now is not the time to create debt. If you can’t pay cash, re-think the idea.

3. Give The Gift of Time Seeing friends and relatives during the holidays is a gift in itself; don’t feel obliHoliday moments are exciting, but

gated to spend more on material gifts.

4. Manage Emotional Purchases Holidays often lead to over-spending and emotional purchases. Doublecheck your intentions before you check 5. Avoid “Retail Therapy” Recognize boredom, loneliness or depression during the holidays as a

6. Set Limits With Family & Friends You will be the holiday hero for thinking. Decide ahead and announce a spending limit before you start shopping.

7. Think Beyond Today out.

only last a short time. Think ahead to the impact of overspending and how you will handle paying bills in the future.

For information please contact Roger Knauff at roger.knauff.ctr@us.af.mil, 334-953-2353 or Tonya Kimball at PFC.Maxwell.USAF@Zeiders.com, 334-618-6991.

PCS Financial Briefing (Virtual) 9 October, 1300-1345 Promotion Financial Briefing (Virtual) 9 October, 1400-1430 Retirement Planning Starter–Virtual 9 October, 1500-1600 Dream Big, Plan Now: 5 Steps to Retirement (Virtual) 13 October 1100-1200 Making Co-Parenting Work 14 October, 1000–1100 Key Spouse Initial Training 15 October, 0900–1500 Holiday Spending (Virtual) 15 October 1000-1100 Gambling Awareness (Virtual) 19 October 1400-1500 Relocation/Sponsorship Awareness Training 16 October, 0900–1100 Paying Off Student Loans (Part 1) (Virtual) 20 October 1000-1100 Paying Off Student Loans (Part 2) (Virtual) 20 October 1400-1500 Healthy Parenting 21 October, 1000–1100 Virtual Maxwell Employment Expo 22 October 2020, 1000-1300 Promotion Financial Briefing –Virtual 22 October, 1000-1100 Continuation Pay Q&A (Virtual) 22 October, 1400-1500 TSP Tuesday “Getting Started” (Virtual) 27 October, 0900-1000 Resume Writing “Private Sector” 27 October, 1000–1100 TSP Tuesday “TSP Investment Funds” (Virtual) 27 October, 1300-1400 TSP Tuesday “TSP at Separation and Retirement” Gunter – 27 October, 1500-1600 Reintegration Support for Military Spouses 28 October, 1000–1100 Retirement Planning Starter (Virtual) 29 October, 1000-1100 Holiday Spending (Virtual) 29 October, 1130-1230 Resume Writing “Private Sector” 30 October, 1000–1100

PAYROLL TAX DEFERRAL

How does this impact you? By issue of a Presidential Memorandum, payroll tax deductions are currently being deferred until January-April 2021. This deferral is intended to provide additional money in your paycheck during the last quarter of 2020 that you can use for necessary bills as a result COVID-19. Military members earing less than $8,666.66 per month and civilian employees earning less than $4,000 per month are not eligible to opt-out of thedeferral. Employees of private companies may be impacted in other ways or have the option to opt-out. 0Personal Financial Counselor Tonya Kimball at the Airman and Family Readiness Center encourage individuals not to spend that extra money unless absolutely necessary, as the deferred amount will be recouped from your paycheck between January 1 and April 30, 2021. “This extra money in your paycheck will seem great when it comes this fall, but in reality, it will have to be paid back,” Kimball said. "If there are circumstances that will be resolved by spending the extra money, it might be the right thing to do. It definitely shouldn’t be considered a gift or extra spending money.” Roger Knauff, Personal Financial Manager at the A&FRC agrees, adding “Short-term fixes are rarely solutions to longterm problems. If you feel you need to use the money, call us for help with a plan for the repayment period and beyond.”

The AFRC has financial counselors available virtually or by phone to provide information and guidance for all military members, family members, and civilian employees. For more information about how this payroll tax deferral will impact you, contact Tonya Kimball at PFC.Maxwell.USAF@Zeiders.com , 334-618-6991 or Roger Knauff 334-953-2353, roger.knauff.ctr@us.af.mil .