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41 Cards in this Set
- Front
- Back
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How many types of pay may you receive?
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three
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As a sailor, what action must you take in order to get paid?
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open a savings or a checking account
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Define Incentive Pay
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Pay you get for certain types of duty that are usually considered hazardous
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Define Basic Pay
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The pay you get that's based on your paygrade and length of service
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You are getting a selective reenlistment bonus. What type of pay are you receiving?
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special pay
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What is an allowance?
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Money used to reimburse you for expenses necessary for you to do your job
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You are entitled to an annual clothing maintenance allowance after you have been on active duty for what length of time?
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6 months
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What offices can provide you information about the types of allowances to which you're entitled?
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disbursing and personnel
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How is your housing allowance shown on the LES?
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BAH
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An allotment is money you have withheld from your pay and paid directly to someone else. There are how many categories of authorized allotments?
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5
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What office should you notify if you think that you're being overpaid?
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disbursing
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True or False. By looking at your LES, you can find the amount of allowances you have earned.
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True
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True or False. Leave and liberty are times you're authorized to spend away from work and off duty. They are combined on the LES.
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False
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You earn a certain number of leave days each year you serve on active duty. What is the maximum number of days of leave you can earn in a year?
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30
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True or False. Regular liberty is usually granted as a 4-day period?
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False
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Under certain circumstances, what is the maximum number of days special liberty a CO can grant?
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4 days
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What type of leave is NOT charged to your earned, annual, or excess leave account?
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convalescent leave
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What form should you use to request either regular or emergency leave?
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NAVCOMPT form 3065
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True or False. The safest and most convenient way for you to keep track of your money is to open a checking account.
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True
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What is one way you can avoid bouncing a check?
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balance your checkbook
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What are some types of voluntary allotments?
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life insurance payments, mortgage paymetns, payment to family members
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What are some types of involuntary allotments?
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garnishment of pay, AAFES garnishments
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What is the key to money management?
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using a budget
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Define deductions
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The amount of money taken from pay for income taxes, social security, SGLI, and so forth
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Define allotments
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the money taken from gross income to pay debts to the United States
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Define Net income
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the money paid to a member after all deductions and allotments are paid
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Define fixed
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expenses that are the same each month
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What type of expense is rent?
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a fixed expense
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You are planning a budget. What is the first thing for which you should plan?
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savings
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According to the U.S. Department of Labor, approximately what percentage of your income should be budgeted for housing costs?
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25%
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True or False. Credit is buying now and paying later at no extra cost
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False
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What method, if any, can you use to find the total amount you will pay for a loan?
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subtract the price of the purchase from the total amount you will pay for the loan
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Good credit is priceless for which of the following reasons?
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in emergencies
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What are the principles of using credit?
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Don't use credit for splurging, make as large a down payment as possible, use credit to purchase goods that will last for a long time
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What is the maximum life insurance coverage under the SGLI program?
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$200,000
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Who is responsible for the safety, health, and well-being of your family?
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yourself
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What is the result of abusive behavior of Navy personnel?
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destroyed lives, negative morale of the military unit, bad reputation of the military in the civilian community
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What program was established to help families in distress?
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Family Advocacy Program (FAP)
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Victims of spouse or child abuse can report incidents directly to what persons/activities?
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FAO, FSC, medical treatment center
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True or False. Stress happens when there is an imbalance between the demands of our lives and the means we have to deal with those demands.
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True
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What are the three means we can use to deal with stress?
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Acceptance, attitude, and perspective
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