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41 Cards in this Set

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