Naval Air Station (NAS) Whidbey Island Fleet and Family Support Center (FFSC) hosted its first Million Dollar Sailor seminar at the Nor’Wester Activity Center June 30.

According to Jo Anne Sherrod, a financial educator from FFSC, the seminar is for junior Sailors age 18-26, to teach them how to be fiscally responsible and develop good financial habits.

Sherrod said the program originated at the Navy Region Hawaii FFSC.

“They had the opportunity for their financial educators to put the curriculum together, and they were teaching it as part of their [indoctrination] session,” she said. “They decided to push it out to the rest of us so we could teach it.”

The seminar included subjects from basic banking, home and car buying, getting the right insurance and creating a spending plan, to investment options and preparing for retirement. Resources for additional information and research were also provided.

“If I knew what I know now eight years ago, I don’t think I’d be getting out [of the Navy],” said El Paso, Texas native Personnel Specialist 3rd Class (AW) Fernando Espinoza, Personnel Support Detachment (PSD) Whidbey Island. “It’s kind of a rude awakening because there’s so much stuff out there you don’t know about. Now that I have this advice I can actually start saving more money and be financially stable.”

Million Dollar Sailor made the goal of becoming a millionaire seem more feasible to some Sailors.

“I think I could reach that goal in the next twenty years with the information that’s been given to me today. Of course I’m going to be on the lookout for more information, but I think this has put me on the right track,” said Espinoza. “I’ve been to a lot of classes since I’ve joined the Navy, and this is by far the best one.”

As the partner credit union of NAS Whidbey Island, Alaska USA Federal Credit Union Whidbey Island area also participated and taught Sailors about online banking and what to look for when choosing banking opportunities.

“The technology has come a long way, and I think the biggest thing is the online services you can use,” said John Holland, Alaska USA Federal Credit Union regional vice president. “I think people are getting smarter about their money now. It’s important for people to be educated and have awareness to be able to control their own money.”

“I think this [program] is great, and we’re going to continue to be a part of this. We’ll continue to support the Navy here in any way we can,” said Holland.

There are plans to offer the seminar twice a year, with one session for Sailors and one for military family members.

“Coming here has put things in perspective as far as how [my husband and I] can better manage our finances because eventually I would like to own a house,” said Personnel Specialist Seaman Apprentice Katherine Washko, also of PSD. “All the information about house loans and ownership was good information for me,” the Chicago native added.