Military spouses taught finance

FORT DRUM — Warriors aren’t the only people who come out of military and Department of Defense training.

Financial counselors do, too.

While their husbands are overseas dodging land mines and hunting insurgents, some military wives are learning how to help soldiers manage money and create budgets.

“Our whole goal is to give spouses a credential that will help them for the rest of their lives,” said Gerri Walsh, vice president of investor education at the Financial Industry Regulatory Authority.

The credentials give the spouses an opportunity for a portable career. When a soldier gets an assignment for relocation, and the family is uprooted, the wife has a chance to get a job at the new military installation or community.

The FINRA Foundation was established in 2006 and since its creation, more than 300 military spouses have graduated from the program.

Amanda M. Morneault came to Fort Drum with her husband in 2010. Four other women on post, Rachel Millios, Tracy Myer, Alina Newburn and India Wilson, were awarded the fellowship this year.

“It was really challenging to find a career here as a military spouse,” Mrs. Morneault said. “I wanted to find something that was similar to what I was doing at home. I applied to a lot of places but I never got any callbacks or had any interviews.”

To earn accreditation, the fellows must complete two 10-week webinars on financial counseling and personal finance, an internship and two exams within three years of receiving the fellowship.

Financial counseling is something that is provided to soldiers on all military installations, making it a constant option for those who relocate frequently.

Mrs. Morneault is working on her internship with the Fort Drum Army Community Services’ Financial Readiness Program.

“It’s been a really great experience so far. We just started tracking my hours so I still have a ways to go,” she said. “It’ll be great to have the portable job skills just in case. It’s always a possibility we could move.”

The fellowships are administered in partnership with the Association for Financial Counseling and Planning Education and the National Military Family Association. Two hundred are awarded each year and since the program’s inception, 10 spouses from Fort Drum have been awarded fellowships.

“It opens doors for new careers,” Ms. Walsh said. “These people are getting the skills they need to get jobs.”