debit card to withdraw funds from your checking or
savings account, transfer funds, and check your account
balance day or night at ATMs.
SAFETY PRECAUTIONS FOR USING
ATMs.Some precautions you should use when using
Be alert, Dont use an ATM if the lights arent
operating or you see suspicious activity. At
drive-up ATMs, keep car doors locked, other
windows closed, and the engine running. If you
feel that something is wrong, leave.
Take someone with you if you must make a
transaction at night.
Keep a low profile. Have your card ready when
you approach the ATM. Remember to take your
card, cash, and receipt and put them away. Count
your money only when you are safely away from
One way for you to manage your money is to have a
savings account. Savings accounts draw interest (earn
money), while checking accounts sometimes do not. A
savings account is an excellent way to earn interest and
keep from spending money.
Balancing Your Account
Depending on the bank and type of account, your
monthly bank statement might include the following:
Actual or miniphoto copies of your canceled
A list of your checks. The bank keeps
photocopies of your checks on file.
A listing of your savings account transactions.
The part of your statement dealing with your
checking account includes
All processed checks,
Deposits and withdrawals, including those made
via convenience cards, and the
Balance as of the end of your statement.
You use the bank statement to balance your
checking account. Compare your statement and register
and identify any discrepancies to your accounts.
If you have any questions, the family service center,
your command financial specialist, or your LPO can
teach you how to balance a checkbook.
Allotments provide a good method for you to
handle your financial affairs. The following paragraphs
describe voluntary and involuntary allotments.
allotments are requested by you. Some of the reasons
for making a voluntary allotment are as follows:
Purchase of U.S. saving bonds
Life insurance payments
Pledges to the Combined Federal Campaign
Payment to family members and relatives
INVOLUNTARY ALLOTMENTS. Involun-
tary allotments from a Navy members pay usually
mean one thingfinancial irresponsibility. Involuntary
allotments are usually garnishment of your pay.
Preparing and using a budget is the key to
successful money management. A budget is a plan to
spend money or a plan of money management. Many
Navy members have false images of the meaning of a
budget. They often associate budgets with detailed
bookkeeping, stacks of paper, ledgers, and so forth. A