The Lessons of Military Saves Week and America Saves Week Continue

By Debbie Matz, NCUA Board Chairman 

America Saves Week and Military Saves Week was the perfect opportunity to take the pledge to save and take control of your financial future. But the lessons of America Saves Week and Military Saves Week continue throughout the year. 

In addition to taking the savings pledge, it is also important to set clear, obtainable savings goals. Remember to start off small, like saving for a computer or setting aside money for school. Be sure to track your progress and stay committed to achieving your goal. Remember, small savings victories add up over time. When you’ve met your goal, set another one and keep the savings habits alive. Each milestone will give you the confidence to set bigger goals like saving for a home or college. 

Nothing feels better, or makes the most impact on your financial future, than paying off debt. In many instances, the interest paid on any debt, like a credit card, is greater than any return on an investment. Start off small by paying the item with the smallest balance and then keep going. 

Finally, always remember the needs versus wants rule: Needs are absolute. Wants can wait. Have clear priorities on what you need to spend money on, like an outstanding debt or past-due account, versus what you want to spend money on, like that new car or TV. This will help you manage your finances, avoid over draft fees, and reduce your stress. 

Follow these simple rules and you can make a huge difference in your financial future. For helpful tips and information on how to get stted, visit MyCreditUnion.gov.  

Tip of the Day

  • Written by Guest Blogger | March 11, 2014

    The first step in getting out of #debt is to stop borrowing. Get tips on how to begin at http://ow.ly/tMA0N

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...

60 Teens participate in Massachusetts Youth Saves Program

Written by Super User | November 26, 2010

During the months of June & July, 60 teenagers aged 13-19 from Marine, Coast Guard, Army, and Air Force families attended Youth Saves programs across the Commonwealth of Massachusetts to help increase their knowledge of financial literacy. Jonathan Harrington, Personal Financial Counselor for the MA Guard & Reserve, created the Youth Saves program to fit into the Military Youth Saves (www.militarysaves.org) theme which encourages kids and teens to develop good savings habits at a young age.

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...