Personal Finance Camp 09/04/2008

Pfc_3Today in PFC, we’re looking at income.  First, get a copy of your last LES (Leave and Earnings Statement).  You probably get them online, at the MyPay website.  Take a look and see if it looks right to you.  If you have questions, the MyPay site has links in the lower right corner to explanations of each service’s LES.  Be sure to read the remarks at the end of the LES.  That is where there will be notes about leave used, any debts that you might have, or other leave or pay related comments.

If you are confused or think that something is wrong, check with your disbursing or finance office.  They should be able to clear it up for you.  A thorough understanding of your LES will help you to understand your pay and also notice if there are any mistakes.

Well done!

About the Author

Kate Horrell
Kate Horrell is a military financial coach, mom of four teens, and Navy spouse. She has a background in taxes and mortgage banking, and a trove of experience helping other military families with their money. Follow her on twitter @realKateHorrell.