Money management important from the start Published May 8, 2007 By Airman 1st Class Kamesha Pickett 882nd Training Group SHEPPARD AIR FORCE BASE, Texas -- As a newcomer to Sheppard AFB in 2005, I was required to attend briefings at the First Term Airmen's Center as part of my inprocessing. Quite a bit of good information was provided, but one briefing in particular stood out: money management. The class included topics such as opening checking and savings accounts, mutual funds, Individual Retirement Accounts, credit cards and much more. Since then, it has played an important part in my life. The class convinced me that I had to start early to build a solid, financial future. So in October 2005, I opened a mutual fund account with an amount that, after cutting back on unnecessary purchases, was easily within my budget. In less than two years, my account is now in the four figures thanks to the capital gains being reinvested in the fund. Because of the benefits I noticed in my mutual fund, I decided to go further and open an individual retirement account. A lot of people have told me that I am getting a great start in life as far as my financial planning is concerned, and this makes me feel very confident for my future. Young Airmen may think that investing is too expensive, but many companies offer minimum investment options that most should be able to afford. Even if someone invests just $20 a month, that adds up over a period of several years thanks to compounding interest and reinvestments. Of course as you receive pay increases, you are likely to put more into your account. Automatic payroll deduction makes it even easier. Anyone who would like information regarding financial management should visit the Airman and Family Readiness Center, which provided the FTAC briefing I attended. I highly recommend it. You will certainly benefit.