Cedric Woodyard, an Army Community Service (ACS) financial readiness advisor, discusses the importance of balancing money and planning for a future at a financial workshop hosted by the unit ministry team of 6th Squadron, 17th Cavalry Regiment, 4th Combat Aviation Brigade, 4th Infantry Division, at the Religious Education Center, Dec. 14, 2016. (Photo by Sgt. Gregory T. Summers)
6th Squadron, 17th Cavalry Regiment, 4th Combat Aviation Brigade, 4th Infantry Division
The unit ministry team of 6th Squadron, 17th Cavalry Regiment, 4th Combat Aviation Brigade, 4th Infantry Division, hosted a financial stewardship workshop to train and develop Soldiers and spouses with successful and sound financial readiness capabilities at Fort Carson’s Religious Education Center, Dec. 14, 2016.
The chaplain-led workshop included a round-robin fashion of classes with guest speakers from Army Community Service (ACS), financial readiness planners Dallas Shrawder and Cedric Woodyard, and financial advisors from Fort Carson’s Security Service Federal Credit Union.
“Financial stressors and hurdles can affect Soldiers in multiple areas of their lives,” said Capt. Matthew S. Burden, squadron chaplain, 6th Sqdn., 17th Cav. Reg. “A Soldier’s mental health, resiliency, strength of relationships and the abilities to adapt, overcome, fight and win can greatly be affected if financial obligations are not in order.”
“We held this workshop to help them relieve some of these financial stressors and give them the tools to succeed financially, in the Army and in life,” Burden said.
The half-day classes focused on a variety of financial aspects including basics of banking, understanding credit scores, tips for car buying and other major purchases as well as how money can affect the strength of relationships.
The content and discussions reinforced common financial struggles, including investing in a future, personal finance balancing and first-time buyers misconceptions.
“We want our Soldiers and Families to be prepared and have a better understanding on how to control their finances,” Pvt. 1st Class Nicholas M. Carlyle, chaplain assistant, Headquarters and Headquarters Troop, 6th Sqdn., 17th Cav. Reg., said. “I think these classes are very important and are extremely helpful regardless of age or rank.”
Throughout the classes, Soldiers learned about various benefits and drawbacks of bank accounts, credit cards and maintaining credit scores, while also building solid budgeting and spending plans.
Information and strategies to tackle personal debt were abundant as group discussions brought about plenty of ideas to balancing and saving money and becoming more financially stable.
“We are extremely appreciative of the professionals who came to assist and advise our Soldiers and families,” added Burden. “I know that (the Soldiers) are all better for what they’ve learned and the tools they have gained.”