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The Military Financial Service Provider eNewsletter
May 2023
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DoD's Financial App, Sen$e, Has New Features
We’ve updated DoD’s free financial literacy app, Sen$e, with useful content so service members can learn on the go! New features include the Financial Well-Being Assessment and Economic Security Toolkit, a section on pre-accession and updates to the housing course. Explore these new additions and encourage service members to access this tool designed to help them work toward their financial goals.
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New! Digital (Crypto) Assets Curriculum
Curious about crypto? A new digital assets curriculum is available on DoD’s FINRED website to help service members demystify this form of financial transaction. The curriculum includes basic information, tax considerations and additional resources for service members to peruse as they weigh whether investing in crypto is right for them and their families. Access the curriculum and let service members know about this resource created specifically for the military community.
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Attend OneOp Webinar on “Military Home Buying Basics and VA Loans”
Join OneOp on July 11 for the “Military Home Buying Basics and VA Loans” webinar to learn how you can help service members make informed decisions about their housing options.
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Refresher: Overseas Cost of Living Allowance
The Overseas Cost of Living Allowance, or OCOLA, is a non-taxable supplemental pay allowance designed to offset overseas prices of non-housing goods and services. OCOLA is intended to equalize purchasing power to ensure service members can buy a similar level of goods and services overseas as they could if they were stationed in the United States. This fact sheet explains how OCOLA is determined and includes links to FAQs, a tool for calculating OCOLA at stations across the globe and other helpful resources. Share this information with service members who are about to PCS to an overseas duty station to remind them about this useful benefit.
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Servicemembers Civil Relief Act: Benefits and Protections
The Servicemembers Civil Relief Act, or SCRA, eases financial burdens for military personnel by limiting, postponing or suspending certain financial and civil obligations during periods of military service. This fact sheet is loaded with information and links to additional resources to educate service members about SCRA benefits and protections. Download and share this information to ensure service members understand their rights and take advantage of the financial benefits and civil protections available to them.
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Service Providers and Leaders
The Office of Financial Readiness is here to support you in your mission of providing service members and their families exceptional financial knowledge and education. Here, you’ll find resources for developing your social media presence, keeping abreast of financial policies and laws, enhancing your coaching skills through training, and much more.
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