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Military Saves E-Newsletter... 

Welcome to the Military Saver e-newsletter. This message is a supplement to the monthly e-Wealth Coach letters and the quarterly American Saver newsletter, and is intended to keep Military Savers informed about campaign news, suggest ways you can spread the message to build wealth through savings and debt reduction, and to share inspiring stories about individual Savers and military organizations that help themselves and their members by promoting savings.

To share your story, email info@militarysaves.org. Please include your name, rank and/or title and organization name, duty location, and the name and contact information for your public affairs officer (if available). We'd like to include your photo and/or video of your savings message.

Thank you for your commitment to the movement to become a nation of Savers!

Savers Tips and Credit Sense: 

If you have a common name, check your credit report frequently.  Chances are high that there is a mistake on your credit report.  Get a free credit report at AnnualCreditReport.com or call 1-877-322-8228.

Read through your credit card statements and stay on the lookout for ongoing monthly fees that you may have forgotten about.

Keep track of your spending.  At least once a month, use credit card, checking, and other records to review what you've purchased.  Then, ask yourself if it makes sense to reallocate some of this spending to an emergency savings account.

Make your monthly credit card payment on time.  The $30-35 you save by not being charged a late fee each month on one card would save you most of the money you need for $500 in emergency savings.

Reduce credit card debt by $1,000.  That $1,000 debt reduction will probably save you $150-200 a year, and much more if you're paying penalty rates of 20-30.

You're Invited to Play Moneytopia!

Learn more about managing your money while having fun - play Moneytopia! This new game was created with members of the military and their spouses in mind.

Game Overview

Hello and welcome to Moneytopia!  In this game your goal is to successfully manage your money throughout life, until you finally achieve your Big Dream.  How do you win?  Keep careful track of your finances.  Pay your bills on time, and take care of all the little day-to-day things that can impact your finances.  Build up your Net Worth until you can afford that Big Dream.  If you do really well, you may even be able to retire young!  But...you can lose big, too!  Spend all your money on things you can't afford, and you could end up dead broke...and then it's Game Over. So follow the advice of Finn and your friends, check out the Case Files and Tools on the computer, and spend your money wisely.  In no time at all you'll be a financial wizard!

  Moneytopia 

The Navy is Making Big Plans for 
Military Saves Week 2009

Washington, DC-The Navy is taking the lead with the Department of Defense planning efforts for Military Saves Week, February 22 to March 1, 2009.  Events are scheduled at Navy facilities throughout the United States and around the world. 

"One of the Navy's major goals," according to David DuBois, Commander, Navy Installations Command (CNIC) Deputy, Navy Fleet and Family Support Programs and Military Saves Campaign Leader, "Is to encourage the Navy community as a whole to take action for their personal financial readiness, make a commitment to build wealth and reduce debt, create a culture that promotes individual financial fitness, and learn more about financial tools and resources promoted in the Military Saves Campaign."

The Navy hopes to increase participation by at least 20% over last year.  An impressive 45,000 sailors and their family members participated in the 2008 week-long event, including the Navy Youth Centers.  CNIC continues to demonstrate its commitment to the program and is offering Liberty Centers a $500 grant to create a Military Saves awareness/recreation program in partnership with Fleet and Family Support Centers. 

A Combined Navy and Marine Corps event during Military Saves Week is being planned through Base Consortiums in the San Diego Region, California.   The kick-off for Military Saves Week 2009 will be a "Home Clinic" - a community service coalition of city, county, state government, and non-profit agencies in the San Diego region, in collaboration with the Legal Aid Society of San Diego's pro-bono program. The high point of metro-San Diego Military Saves Week 2009 will be a seminar with 1,500 sailors and marines that includes distinguished guest speakers.

Hampton Roads, Virginia will conduct Personal Financial Management Leadership forums throughout the region, Financial Fairs held in conjunction with the forums, Information Tables at the MWR Fun Runs and host a DoD Financial Readiness Challenge Roadshow during the week of Military Saves.  Financial Seminars for spouses and Financial Youth Fairs will also be offered.

Meanwhile, many Navy bases around the world will offer classes and workshops on saving and investing, basic money management, wise use of credit, retirement planning and many other financial topics.  Installations will host kick-off events, financial fairs, fun runs, fun days, financial carnivals and scavenger hunts.  Much of the Fleet will join the fun with ship-board events, contests, and other financial literacy activities.

Local Commanders will make proclamations supporting the Week, defense credit unions and military banks will offer incentives and special products to help military families boost their savings and diminish their debt, and many military-affiliated organizations including the Better Business Bureau, MWR, Children and Youth, Boys and Girls Clubs, the American Society of Military Comptrollers, Navy-Marine Corps Relief Society, Navy Exchange and Defense Commissary Agency will help reinforce the message to save: Build Wealth. Not Debt.

"The Navy is taking the lead in turning the world's best fighting force into the country's best savings team," said Sarah Shirley, director of Military Saves. "Military banks and defense credit unions have partnered with Navy at the global and local level in ways that show how to promote financial stability and asset development, and at the same time improve your business model.  We hope that other organizations follow this lead." 

Ask Wendy
By Wendy Christiansen

Dear Wendy,

I was recently discharged from the service for medical reasons.  Because of this, I have been having problems paying my rent and utilities.  I am having trouble finding any programs that might be able to help me until I get back on my feet.  Any suggestions? 

A great resource available in most parts of the US is 2-1-1 - this easy to remember telephone number connects callers to information about critical health and human services available in their community.  Below are some of the services that may be available in your area: 
  • Basic Human Needs Resources: food banks, clothing, shelters, rent assistance, utility assistance.
  • Physical and Mental Health Resources: medical information lines, crisis intervention services, support groups, counseling, drug and alcohol intervention, rehabilitation, health insurance programs, Medicaid and Medicare, maternal health, childrenʼs health insurance programs.
  • Employment Support: unemployment benefits, financial assistance, job training, transportation assistance, education programs.
  • Support for Older Americans and Persons with Disabilities: home health care, adult day care, congregate meals, Meals on Wheels, respite care, transportation, and homemaker services.
  • Support for Children, Youth and Families: Quality childcare, Success by 6, after school programs, Head Start, family resource centers, summer camps and recreation programs, mentoring, tutoring, protective services.
  • Volunteer opportunities and donations.

For more information on this valuable resource, you can check out www.211.org. 

 

 Expert Offers Tips on Turning Military Skills into Civilian Employment

CHICAGO, November 10, 2008 - Veterans returning to the U.S. after active duty may now be facing a different battle: finding a job. Nearly one-in-five (17 percent) veterans looking for a job said it took more than six months to secure one after leaving active duty; nearly one-in-ten said it took one year or more. This is according to a CareerBuilder.com survey conducted among more than 750 U.S. veterans between August 21 and September 9, 2008.

One-in-five veterans believe that the biggest challenge to getting hired for a civilian position is employers' inability to understand how military skills can fulfill qualifications for civilian positions. Veterans also point to a lack of a college degree, a low number of jobs in their area and an inexperience with civilian job interviewing as other reasons they feel they aren't finding employment.

Even though veterans may feel disconnected from employers, nearly 20 percent of employers said that they will be actively recruiting veterans over the next 12 months. When asked what qualities are most important that a veteran can bring to their organization, employers said:

  • The ability to be part of a team (74 percent)
  • Disciplined approach to work (73 percent)
  • Leadership skills (66 percent)
  • Respect and integrity (64 percent)
  • Ability to perform under pressure (62 percent)

"Employers value the diverse skill set that veterans can bring to their workforce and how these workers can have a positive impact on their bottom lines," said Rosemary Haefner, Vice President of Human Resources for CareerBuilder.com. "In fact, 20 percent of employers said that they will be actively recruiting veterans over the next 12 months to fill specific roles in fields such as IT, sales, management and engineering."

Haefner recommends the following tips for veterans seeking a transition from military to civilian life:

Make your skills transferrable: When crafting your resume, focus on framing your military skills in a civilian light to clearly communicate your strengths to employers. There are several online translators available to veterans that can help you match your military experience and training with corresponding civilian jobs.

Quantify your experience: Be specific when describing your experience on your resume and in your cover letter to better relate to hiring managers. For example, instead of stating that you worked in "defense," present a detailed explanation such as, "managed strategic planning and day-to-day operation of defense unit of 1,500 military personnel."

Don't limit your options: While you may have carried a weapon or navigated a submarine, these actions don't have to define your civilian career choices. Some people may expect you to pursue a career in industries like law enforcement or military contracting, but keep your mind open to a position outside of what may be expected from your military experiences. Focus on the value of your skills rather than your military job title.

Survey Methodology
This survey was conducted online within the U.S. by Harris Interactive on behalf of CareerBuilder.com among 3,388 hiring managers and human resource professionals (employed full-time; not self-employed; with at least significant involvement in hiring decisions); and 6,842 U.S. employees (employed full-time; not self-employed) ages 18 and over between August 21 and September 9, 2008, respectively (percentages for some questions are based on a subset US Employers or Employees, based on their responses to certain questions). With a pure probability sample of 3,061 and 6,194 one could say with a 95 percent probability that the overall results have a sampling error of +/- 1.68 percentage points and +/- 1.18 percentage points, respectively. Sampling error for data from sub-samples is higher and varies.

About CareerBuilder.com
CareerBuilder.com is the nation's largest online job site with more than 23 million unique visitors and over 1.6 million jobs. Owned by Gannett Co., Inc. (NYSE:GCI), Tribune Company, The McClatchy Company (NYSE:MNI) and Microsoft Corp. (Nasdaq: MSFT), the company offers a vast online and print network to help job seekers connect with employers. CareerBuilder.com powers the career centers for more than 1,600 partners, including 140 newspapers and leading portals such as AOL and MSN. More than 300,000 employers take advantage of CareerBuilder.com's easy job postings, 28 million-plus resumes, Diversity Channel and more. CareerBuilder.com and its subsidiaries operate in the U.S.,Europe, Canada and Asia. For more information, visit http://www.careerbuilder.com.

Military Saves was made possible in part through the generous support of the FINRA Investor Education Foundation. Please visit www.SaveAndInvest.org.  

Military Saves is also supported by Wells Fargo Bank, Chase Bank, and Dave Ramsey's Financial Peace University Military Edition. Together, we can build wealth, not debt!