Managing Your Money from Afar
Developing a game plan to handle your finances during deployment is easier than you think.

andling your personal finances when you're half-way around the world for six months can present a challenge for anyone, but it can be particularly difficult for young couples.
“Start making some key decisions well in advance,” says Vicki Archer, manager at the Navy Federal Whidbey Island Member Service Center (MSC). “Three months prior to your ship leaving port is not too early.” And she should know. Vicki and other Navy Federal MSC managers regularly give predeployment briefings to make sure the Sailors and Marines at sea and their families back home have all the financial tools they need.

Because some financial arrangements take longer than others to get in place, don't wait until the last minute to:

• Provide Navy Federal with any new instructions for the disbursement of your direct deposit or allotment.

• Establish automatic transfers for your Navy Federal loan and credit card payments. Mail delivery can be tricky overseas and delays are inevitable. This way you'll prevent late payments.
  

• Sign up for 24-hour secure Account Access on Navy Federal Online well before deploying. Even though you can sign up online, your authorization form is sent to you by mail. Since all surface ships and naval installations provide you with Internet access, this is the easiest way for you to transfer money between accounts and balance your checkbook from anywhere. This can be especially important when two people are working from the same accounts.
  

• Enroll in Navy Federal's Web Bill Pay service. To enroll you must have a Sharechek checking account and be signed up for Account Access.
  

• Apply for a Visa® Sharechek Card, CUCARD® or Navy Federal credit card for getting cash from ATMs. The cards and their PINs will come to you by mail. Once you receive them, new Visa Sharechek Cards and credit cards have to be activated by calling a special phone number.
  

• Have a forgotten PIN reissued. Navy Federal employees do not have access to that information. A forgotten PIN must be electronically reissued and mailed to you.
  

• Check your inventory of Sharecheks and make sure you have a generous supply. Often, cashing a check during deployment is the only way you can get cash, because not all foreign countries accept debit cards. Also, sign up for a NAVchek® Line of Credit with overdraft protection...just in case.
  

• Open a second Sharechek checking account for your spouse or joint owner. You can divide your direct deposit between the two checking accounts any way you want. And these funds can be reallocated at any time should your needs change during deployment.
  

• Make sure Navy Federal has your and your joint owner's correct address. If you apply for a loan over the Internet or by phone, Navy Federal will send the check to your last address of record. If this is incorrect, you won't receive the funds.
  

Your Command Financial Specialist is also a great resource in preparing for deployment. And your Legal Office can provide you with a preformatted power of attorney that will allow someone you designate to act on your behalf in your absence. But be sure to get the one that's right for your needs. A durable power of attorney is only good if you're incapacitated or missing in action. A general or specific power of attorney allows the designated person to act when you're not available.

Some last advice from Vicki Archer of Navy Federal: “If you're having a problem with any of your Navy Federal accounts, call or contact us right away. We've been helping Sailors and Marines while overseas for decades and can help keep a small problem from turning into a crisis.”