Financial readiness challenge promotes fiscal fitness, I.D. protection

Published Aug. 28, 2009
By Tech. Sgt. Ray Bowden
21st Space Wing Public Affairs

PETERSON AIR FORCE BASE, Colo. -- The 21st Space Wing hosted its first-ever Department of Defense- sponsored Financial Readiness Challenge, an event designed to encourage Airmen and their families to effectively manage their finances and protect themselves from identity theft, Aug. 21 and 22.

The theme of the event was "Command your financial future."

Christine Fornander, 21st SW personal financial readiness lead, and one of many Peterson personnel whose efforts were pivotal in facilitating the challenge, said the event was a professional affair with charismatic and knowledgeable speakers who covered a variety of financial topics.

Deborah Owens, author of "Nickel and Dime Your Way to Wealth," and keynote speaker for the event, said that advising military audiences on financial matters is a "small thing she can do" to honor the effort and sacrifice of today's servicemembers.

Ms. Owens stressed to the audience of approximately 300 Airmen that trying to achieve financial success without setting goals will ultimately result in a fruitless endeavor.

"You can't manage what you don't measure," she said. "Goals help you adjust your behavior and give you direction. You don't just board an airplane without knowing where it's going first. You should treat managing your finances the same way."

John Sileo, event guest speaker and author of "Think Like a Spy...Bulletproofing Your Identity," told of his personal tribulations after falling prey to identity theft, a set of circumstances involving the loss of nearly $300,000, a federal criminal investigation, the threat of a lengthy prison stay, and untold stress placed upon his family.

"Identity theft is a violation that strips away who you are as a person," he said. "It takes away more than just financial numbers or information - it takes away your identity."

Mr. Sileo's presentation, "Target the Enemy," centered on four steps he said Airmen should take to lessen their chances of identity theft: Stop, Destroy, Secure and Deploy.

"Stop" refers to eliminating personal information exposure at the source; "Destroy" is meant to promote the destruction of personal data or information that is either unnecessary or no longer needed; Secure is a reminder that private information retained for future use should be locked up or digitally secured; Deploy refers to using outer-perimeter surveillance that warns of a breach.

Mr. Sileo advised the audience to be particularly careful with personal information they send online or what personal documents they may keep within reach of others.

"You have to pay attention," said Mr. Sileo. "You have to believe in the wreckage identity theft causes."
Along with Ms. Owens and Mr. Sileo's presentations, various financial counseling sessions were offered in the base chapel classrooms including those covering investing, the Thrift Savings Plan, budgeting and planning for a higher credit score.

Ms. Fornander said she hopes the DoD offers the same event package in 2010 and that Peterson accepts any offer to host future financial challenges.

"You're never too young or old to enhance your financial fitness," she said. "Financial planning means less stress, better quality of life and more options."

To talk to a financial counselor at the A&FRC, call 556-6141