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Figure 17-1.Leave and earning statement
Checking Account - 14325_499

Basic Military Requirements (BMR) Revised Edition
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REVIEW 1 QUESTIONS Q1. What’s the main difference between pay and allowance? Q2.   List the three types of pay the Navy uses. a. b. c. Q3.   What system is used to deposit Navy personnel paychecks? Q4.   As an E-4, you have served more than 4 years of active-duty service. How often will you receive a longevity raise? Q5.   How  often  do  you  receive  your  clothing maintenance allowance? Q6.   DELETE Q7.   What person is responsible for making sure your paycheck and LES are accurate? Q8.   How many days of leave do you earn per year? Q9.   The  CO  may  grant  how  many  days  of  special liberty? PERSONAL FINANCIAL MANAGEMENT Learning Objective: When you finish this chapter, you will be able to— Recognize   the   procedures   for   managing personal    finances    to    include    money management, use of credit, and indebtedness. The  consumer  debt  of  the  United  States  is  the amount Americans borrow for large purchases, such as cars, stereos, appliances, and furniture. The consumer debt also includes revolving credit (which is a type of loan), such as credit cards. This debt keeps spiraling up (getting  larger).  Repayment  of  consumer  loans  slices more then a quarter of every dollar a wage earner takes home. You are probably no exception. As a young service member, your take-home pay may be less than the national average. You should learn to plan your finances so you can balance your income, savings, and spending. The  following  section  on  personal  financial management gives you information you can use. Paying attention to this information will help you manage your money. MONEY MANAGEMENT Managing  money  can  be  hard  to  do.  You  will probably  have  checking  and  savings  accounts,  have allotments,  and  keep  some  cash  to  spend.  There  are advantages and disadvantages to each of these. 17-6 Student Notes:







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