Holly Petraeus shares experience, insight into financial issues

  • Published
  • By Airman Cortney Paxton
  • 341st Missile Wing Public Affairs
MALMSTROM AIR FORCE BASE, Mont. --  Several members of Team Malmstrom had a chance to take time out of their busy schedules Jan. 11 to sit down and listen to advice about facing financial challenges while in the military and the smartest ways to resolve them.

Holly Petraeus spoke about her personal experiences with finances while being associated with the military and the ways she worked through them. Petraeus is the wife of decorated, retired Army Gen. David Petraeus, current director of the CIA. She is also mother to an Army soldier who has served in Afghanistan. She has witnessed personally, the effects of financial issues on military members.

By speaking about her issues, she gave her listeners something to relate to.

"Believe it or not, my husband and I were once a young military couple," she said.

Petraeus was also once the director of the Better Business Bureau, has been named a dedicated consumer advocate for military families and has recently started working for a new government agency, making her background in military issues broad.

"I work for a brand new government agency called Federal Consumer Protection Bureau... It's here to do exactly what its name says - protect consumers," she said.

After a brief introduction speech, Petraeus allowed members of the audience to ask questions. Several topics were covered including the Homeowners Assistance Program and alternatives, debts, on- and off-base housing issues, common scams, education and the recent budget cuts' effects on military retirements.

Petraeus discussed the importance of reading and keeping current documentation to protect members from missing or misunderstanding the "fine print" of a lease or other agreement. She also encouraged members to use the resources available to them.

"[Community leaders] can do things for you; you just have to tell them what the issues are," she said. "There's also a powerful weapon here on base... Go to the Airman and Family Readiness Center. They have financial counselors there and can help you make a plan for free."

Petraeus shared several ways to recognize and improve various issues members may face throughout their career.

"I don't want to make you paranoid - just aware," she said.