An analysis of personal financial management training within the Department of the Navy
Rendon, Juanita M.
Landry, Steve P.
MetadataShow full item record
In todays Navy, budget concerns are a part of everyday life. The Department of the Navy (DON), similar to many other government organizations, is more budget-constrained and faces an uncertain future, to some degree, with fiscal issues. With the real threat of government shutdowns, downsizing threats, furloughs, and possible changes in military retirement, DON personnel must utilize sound Personal Financial Management (PFM) to be prepared to face these future challenges. The purpose of this research was to determine the financial characteristics that lead to the financial fitness of DON personnel and to review the DON PFM training programs coverage of those financial fitness characteristics, so that DON leadership can provide the necessary resources to improve the financial fitness of DON personnel. This research project accomplished the following: 1) defined the term financial fitness and the 14 associated characteristics, 2) developed a financial fitness index, 3) analyzed previously collected data from the 2011 Financial Health Quick Poll survey to test the financial fitness characteristics, 4) provided recommendations to improve DON personnels financial fitness, and 5) outlined areas for further research and follow-on PFM studies.
Approved for public release; distribution is unlimited.
Showing items related by title, author, creator and subject.
Katz, Robert Douglas (Monterey, California. Naval Postgraduate School, 1995-06);The Department of Defense and its budget has been subject to many changes over the last decade, The change in the Department of Defense's budget effects the financial condition of defense industry firms. These defense ...
Determining relevant financial statement ratios in Department of Defense service component general fund financial statements Koetter, Nicholas J.; Krause, Daniel J.; Liptak, Carl S. (Monterey, California: Naval Postgraduate School, 2014-06);Department of Defense (DOD) service components are dedicating significant financial and human resources toward achieving unqualified opinions on audits of their financial statements. The DOD has endeavored to produce ...
Smith, Glenn A. (Monterey, California. Naval Postgraduate School, 1998-12-01);Navy medicine is currently in a state of change in the methods it employs to report on its stewardship over the budget authority it annually receives and executes. The Bureau of Medicine and Surgery (BUMED) is responsible ...