Military Saves Week is Over, but Your Savings Goals Continue!

Last week Military Saves and partnering organizations, installations and financial institutions participated in Military Saves Week 2014. Military Saves Week provided the military community with incentivized savings products, workshops and events to encourage servicemembers to become military savers. Military Saves manned a table at  the Pentagon Financial Readiness Fair, conducted with several of our partner organizations to encourage servicemembers and DoD civilians to take the Military Saves pledge.

Through social media, we also informed military savers about incentivized financial products, financial workshops and community events that were being held specifically for servicemembers, their spouses their children. Hopefully you were able to take advantage of some of the events and savings products offered. If so, what is your savings plan for the rest of the year? How do you plan to stick with your Military Saves Week pledge goal?  Military Saves wants you to work toward the goal that you identified  when you took the Military Saves pledge during Military Saves Week, and to  take the “Build Wealth, Not Debt” message to heart year-round.

How to Stick to Your Military Saves Week Goal 

  • Buddy up. Accountability is a great way to stick to goals.  If you took the Military Saves pledge with a friend that you work with, have lunch with one another once a week to talk about the status of your savings goal, and discuss successful habits you are using to save toward your goal.
  • Use the SMART rule before spending. If you find yourself about to purchase something that is $25 or more that is not in your monthly spending plan, reevaluate your decision to make that purchase by applying the SMART rule. This rule is based on the theory that all decisions should be specific, measurable, attainable and realistic. By using this strategy, you are less likely to make impulse purchases. Remember, even $25 is better spent toward the car, home or retirement that you are saving for!
  • Get competitive. A fun way to stick to your pledge is to create a challenge between a friend or family member who is a servicemember in a branch that is different from yours. Challenge one another to see who uses strategies that help stick to their savings goal for the remainder of the year. To view how each service branch is pledging, go to the Military Saves site and scroll down to view the buttons that represent each military service branch. The numbers next to the buttons represent how many in that branch has taken the Military Saves pledge.  National Guard branches and reservists are now also included.
  • Do your research. To keep focused on your goal, continually do research about best practices on obtaining your goal. If it is a home, keep up with news on interest rates, and read consumer sites about homeownership. If you are saving for retirement, stay abreast of Thrift Savings Plan news

Remember, Military Saves Week was just the beginning! Saving for a goal means year-round planning. If you have not yet taken the military savers pledge, there’s no time like the present to Set a Goal, Make a Plan, and Save Automatically!

Tip of the Day

  • Written by Guest Blogger | March 28, 2014

    Make sure you know about all the tax deductions that you can take. Visit http://ow.ly/C7v84

Saver Stories View all »

On the Right Track to Build Wealth

Written by Super User | April 16, 2013

My name is Robina Wahl, and I am a military wife and a veteran. Although I am fairly new to the Military Saves Campaign, the message to “Build Wealth, Not Debt” reassured me that my husband and I were on the right track and doing the right things.

Read more...

A Plan for Success

Written by Super User | April 26, 2012

I’m Staff Sergeant Robert Zuniga and I have been an active duty Air Force medic for eight years. I plan on staying in long enough so that I can retire at 20 years. I have always been interested in personal finance and would like to share how it IS possible for me and my stay-at-home wife and two kids to not only save and invest a ton of money but also have a lot of responsible fun as well on 'low' enlisted pay. You CAN do it too!

Read more...

Airman Succeeds Through Dedication to Building Wealth Not Debt

Written by Super User | October 13, 2011

I came into the Air Force at 23 years old in 1993 with about 12 outstanding bills (hospital bills, car loan, car insurance, school loans, credit cards, etc.). You name it, I had the bill. Thanks to the Family Support Center, Dave Ramsey's Financial Peace University, and many other sources, I now have no outstanding bills.

Read more...