Building Wealth, Reducing Debt: Military Saves Week


Story Number: NNS160222-24Release Date: 2/22/2016 8:08:00 PM
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By Mass Communication Specialist 2nd Class Charlotte Oliver, Defense Media Activity

WASHINGTON (NNS) -- 'Make Saving Automatic!' is the theme for this year's "Military Saves Week," which kicked off this week with a proclamation signing at the Washington Navy Yard, Feb. 22.

Partnered with the Department of Defense Financial Readiness Campaign, this week is an opportunity for installations and organizations to promote good savings habits and a chance for service members and their families to assess their own saving status.

The program focuses on helping service members achieve their financial goals by providing savings advice, financial tools and resources, and motivation.

"Military Saves Week" serves as part of the Military Saves Campaign, a year-round social marketing campaign to persuade, motivate and encourage members of the DoD to save money and reduce consumer debt.

"The idea of the campaign is to concentrate one week of making sure Sailors and their family members know about all the educational activities we have, all the financial counseling we have and all the events we sponsor in order to make people financially responsible," said Fred Davis, the personal financial management analyst for Commander, Navy Installations Command. "Being financially responsible in the military is a very simple process, as long as people exercise discipline."

Service members and their families are encouraged to take the Military Saves pledge to change the way they think about and act toward money. The pledge helps you set a goal, make a plan and save money, not just for the week, but through the entire year.

Last year more than 33,000 service members and dependents took the pledge. Nearly 400 installations, commands and readiness centers, 113 financial institutions and 110 non-profit and other organizations signed up to participate around the world.

Vice Adm. Dixon Smith, Commander, Navy Installations Command spoke on being financially secure.

"It's just a commitment to yourself," Dixon said. "I did it before I came out here [to the signing]. It's about starting small, thinking big. It's about having a plan; staying with that plan."

Service members or dependents who would like more information about resources and services offered through Military Saves, can contact their local Fleet and Family Service Center or take the Military Saves pledge at http://www.militarysaves.org/.

 
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Financial planning is essential for all military personnel.
130226-N-JP566-004 WASHINGTON (Feb. 26, 2013) Financial planning is essential for all military personnel. Military Saves Week, running Feb. 25 to March 2, encourages service members to "Set a Goal, Make a Plan, Save Automatically" in order to better prepare for their future. (U.S. Navy photo by Patrick Gordon)
February 26, 2013
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