Military Saves Week Offers Financial Advice to Sailors

Story Number: NNS120221-06Release Date: 2/21/2012 9:59:00 AM
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From Naval Station Great Lakes Public Affairs

GREAT LAKES, Ill. (NNS) -- To mark Military Saves Week, Feb. 19-26, the Fleet and Family Support Center (FFSC) will offer a Million Dollar Sailor course Feb. 22 and 23 from 8 a.m. to 4 p.m. at Bldg. 26.

The course teaches Sailors how to develop good financial habits, how to become savvy consumers, and how to save and invest to become future "million dollar Sailors."

"FFSC's Million Dollar Sailor course is a two-day, personal wealth-building program that teaches sailors and their families to successfully navigate the transitions of Navy life and the financial challenges that accompany them," said Bill Braun, personal financial management specialist (PFM) at FFSC, who is a certified financial planner and accredited financial counselor.

"The vision is for the Navy community to be financially fit through a comprehensive overview of key money-related areas," Braun said. "Understanding the basic building blocks of money management, consumer awareness, insurance, car and home buying, as well as wealth building, Sailors and their families can reap the benefits of sound financial decisions."

Braun will teach the course along with Dannie Reeves, PFM. The course enhances personal financial fitness by providing a basic understanding of financial issues, an awareness of available resources, financial problem-solving skills and strategies for achieving financial growth.

"Navy families are best positioned to weather their economic challenges by fully taking advantage of the benefits, services and professional skills available to them through their command's financial fitness team and personal financial fitness coaching staff at Fleet and Family Support Centers worldwide," said Braun.

"This is a time to focus on reducing debt, building emergency savings and developing strategies to increase personal net worth and family readiness," he said.

In addition, FFSC offers three presentations Feb. 27, 28 and 29 at Forrest City Community Center, 2007 Virginia Ave.

Understanding TriCare Benefits will be discussed Feb. 27. How to Buy Your Next Car will be the topic Feb. 28, and Building Your Wealth, learning how to save and invest in these challenging times, will be discussed Feb. 29. All presentations are from noon to 1 p.m.

Military Saves Week is part of the larger nationwide year-long American Saves Campaign and conducted in cooperation with the non-profit Consumer Federation of America.

During this time, the entire military community comes together with federal, state, and local resources, including military banks and credit unions, to focus on the financial readiness of military members and families to help them reduce debt and save money.

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