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FAQ

What is MFAN?

The Military Family Advisory Network is a nonprofit dedicated to building a community of military and veteran families at home and abroad who are well-informed about the resources designed to serve them, equipped with tools for success, connected to leaders who serve the military family community and embraced by the public. Click here to learn more.


Why did MFAN create MilCents?

MilCents was created to empower military families to take control of their financial wellness. Financial security is an important part of a healthy and happy military life, but we know that attaining that can be a challenge sometimes. That’s why we created MilCents: to help military families understand their finances better and prepare for life’s financial uncertainties.

There are so many resources out there that it can be hard to know where to start. That’s where we come in. Our advisors, who are military and veteran spouses themselves worked with financial experts to select resources and tools that will best serve the needs of military families.


Why should I participate?

You deserve it. We all deserve to live our best life, and that often involves taking time to focus on our own wellness. As military families, we often put others first, but it is important to remember that we need to take care of ourselves, too. Join us as we learn about the resources available, support each other, and choose to thrive. Together.



What is MilCents?

MilCents is a one-of-a-kind financial literacy program that combines information, online events, social media conversations, and free resources into a self-guided program designed to empower all military families to get their money in gear.

There are tons of great financial resources out there — so many that it’s difficult to know where to start. MFAN enlisted the support of experts, including the Council of Better Business Bureaus’ Military and Veterans Initiative, the Financial Industry Regulatory Authority (FINRA) Foundation, and the National Foundation for Credit Counseling to identify some of the top resources and pull them into one program that will work for military families. Each day, you’ll learn something new, put that knowledge into action, and talk about it in MilCents’ safe and free online community.

During the program, you will:

  • Learn how to read a Leave and Earnings Statement 
  • Understand your current financial situation, including monthly net 
  • Get your credit score and learn how to improve it 
  • Categorize your spending and saving 
  • Learn how to tackle debt 
  • Develop a plan for retirement 
  • Create a budget 
  • Learn how to protect your money and avoid predatory lenders