Get your financial education in FIVE minutes, put it into action and move along with something else.
Check out this Facebook video I did sharing about all things LES (Leave and Earnings Statement):
In case you don’t know, FinLitMama is short for Financial Literacy Mama because I feel like your mom is the person that you go to with random life questions and I want to be that person for you when it comes to all of your financial questions.
It is so important for everyone to review the income which they have, which for our military members means that dreaded LES. Your Leave and Earnings Statement.
Finance is not going to come around and check your LES to make sure that you are being paid correctly. They are not going to make sure that your promotion went into effect or that you receive BAH after getting married. It is your pay, you have to take responsibility for it.
You’re going to access the LES through MyPay. Pull the most recent LES and I would suggest printing it. The important things to check, initially, are the spelling of your name, SSN, rank, ETS date. Checkout the DFAS website [https://www.dfas.mil/militarymembers.html] to pull up the pay charts for 2019 so that you can check that what you ARE getting paid is actually what you ARE SUPPOSED TO be getting paid. On the DFAS site, you will also have an option to view a LES by branch. If you are entitled to BAH check that based on your duty station zip code via the DoD website. [https://www.defensetravel.dod.mil/site/bah.cfm]
In the video, I talk about the rest of the LES, how to determine how much you are spending, making a budget, and a few other important things. It's really important to start at the beginning and start with knowing exactly what is coming in. I want you to review your LES so that if you find something which is incorrect you can get it fixed now. If you have errors, take your current LES and whatever documentation you need to support your claim to your command or to Finance. The sooner you notify them, the sooner they can start working to resolve the issue and your pay can get squared away.
And let me tell you, I had a Power Of Attorney while my husband was deployed and I swear those Finance people would see me coming through the window and LOCK THE DOOR!! I was in there all the time trying to get errors fixed!
It’s your money...take control of it now, so that you can take control of your financial future as well.
~Stephanie aka FinLitMama