Navy Region Singapore (NRS) joins installations across the fleet in observance of Military Saves Week, Feb. 27-March 4.

This is an annual opportunity for organizations to promote positive financial behavior and a chance for service members and their families to assess their financial status.

"Military Saves [campaign] encourages people to build wealth instead of debt in an effort to reduce the stress and worries associated with financial difficulties, and enable service members to focus on executing their mission," said Steve Repak, personal financial counselor with Military Saves.

Repak, a veteran and a certified financial planner from Charlotte, North Carolina, volunteered three weeks of his personal time to assist the Military Saves campaign, during which he will join personnel from NRS and Destroyer Squadron 7 in providing personalized financial training to military members, Department of Defense civilians, and their families throughout the region and the crew of littoral combat ship USS Coronado (LCS 4).

"I am a 12-year veteran and I left the Army with $32,000 of credit card debt, so I know exactly what it feels like to live paycheck to paycheck with a ton of debt, messed up credit, no money in savings, and very little hope," said Repak. "If you are financially fit, you are going to be able to perform your mission better. My goal is to get people financially healthy so that they can be better spouses, better Sailors, and have a better quality of life."

Throughout the week classes, training sessions, and events have been held, designed to improve financial literacy and monetary management skills while informing the command on best practices for avoiding financial instability. The key focus of the various events is to instill an understanding of the importance of
developing a year-round commitment to proper financial management.

"You can get people motivated and change their habits and behavior in the short term, but the key is to maintain those habits," said Repak. "You don't have to eat, breathe, and drink finances, but you periodically need to set time aside to review your situation, schedule time to review your financial goals, make sure you have a budget (and are paying down your debt), and put money toward savings."

Many commands have a dedicated personal financial manager who can provide service members and their families with financial advice and counseling as the need arises. To fill this role in the NRS community, Repak provided advanced training to specific staff members, enabling the NRS staff to provide year-round quality financial support for the community.

"Being in the military you can feel like you are protected by the safety net, having your food, clothing, housing, and other expenses paid for, but eventually you will have to leave the military whether it is sooner or later," said Repak. "Money will not buy you happiness, but it will provide you choices. The more money that you have, the more choices that are available. My goal is to leave here having given people hope, choice, and a better quality of life."

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