Navy Region Singapore's (NRS) Family Service Office (FSO) observed Military Saves Week, Feb. 23-28, with budgeting and investing workshops.

Beverly Barron, NRS work and family life specialist, organized budgeting basics and investing basics workshops. Community members received financial planning information as well as links to military focused websites that are helpful for financial planning.

"Financial issues change as military members and their families change duty stations and move to different areas. Every time you move, you have to reassess your budget," said Barron.

The workshops were taught by community members with expertise in financial matters, and each presenter volunteered their time to assist the community.

Alisha Powell, the presenter of budgeting basics, guided attendees in developing their own basic budget overview. Powell discussed the importance of making savings and emergency funds a first priority. She focused on three types of expenses: fixed, variable and recurring. She also provided helpful mobile applications to use when budgeting.

Powell has been trained as an Accredited Financial Counselor and is anxious to receive her official certification. In the meantime, she enjoys spreading her knowledge about finances and budgeting.

"You need to develop a spending plan and you need to make it work for you," said Powell.

The investment basics workshop was presented by Mary Beth Williams. Williams, a former employee of a mutual fund company who advised typical families on ways to save and invest money, became interested in finance years ago after a discussion with her husband about their own finances. This led her to want to learn more about investing.

"If you haven't started investing yet, start today. And if you have children, make sure they start early," Williams explained. "Time is money."

The investment basics workshop detailed saving versus investing, stocks, bonds, mutual funds, tuition planning, life insurance, individual retirement accounts and more.

Eighteen people, including military members, civilians and spouses, attended the two classes.

The FSO will follow up on Military Saves Month with command financial specialist training to be held in March at NRS.

NRS is comprised of Singapore Area Coordinator (SAC), Navy Region Center Singapore (NRCS), and various tenant commands. Established in 2007, NRCS is a U.S. Navy installation that provides administrative support to U.S. commands in Singapore and to visiting U.S., allied, and partner navies.

While no U.S. base exists in Singapore, the U.S. Navy leases facilities from the Singaporean government. Many U.S. ships, aircraft and personnel visit Singapore each year to rest, relax and reset.

Today, the U.S. military community in Singapore includes active duty personnel, government civilians, family members, and local national employees distributed among 22 commands. NRCS manages 209 family and bachelor housing units and dozens of command, administrative and warehouse facilities to support the operational readiness of active duty military personnel, civilians, and their families.

For more news from Commander, Task Force 73, visit www.navy.mil/.