What is MilCentsSM?

MilCentsSM 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 

What is MFAN?

The Military Family Advisory Network (MFAN) is a 501(c)(3) nonprofit that connects military families with programs and services designed to support them. The members of MFAN’s advisory board are military and veteran spouses, community leaders, and others dedicated to improving the lives of military families.

Together we:

  • Inform our community about the resources and benefits designed for military families
  • Bridge the communication gap between our community and agencies that serve us
  • Promote health, wellness, and employment initiatives within the military community
  • Introduce the general public to the modern-day military family

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?

Concerns about money can affect far more than just your bank account. Building a solid financial foundation now will help you make more informed decisions in the future for you and your family and have a better understanding of your options.