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 4, 2014

    Use your #tax refund to start or add to your #IRA or #401(k) These plans are opportunities to put aside money now for #retirement later.

Saver Stories View all »

Savers Pledge Leads to Savings Success

Written by Super User | October 13, 2011

My name is Rob and I am a Staff Sergeant in the Marine Corps Reserve. My financial success is a huge result of the Military Saves Campaign.

My journey began five years ago after marrying my wife, Lisa. We entered our marriage with no savings plan in sight, carrying debt and living in a tiny apartment. After seeing an advertisement for Military Saves, we decided to grab the reigns of our finances and implement a positive financial plan.

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...

Making Savings a Part of Marriage

Written by Super User | November 26, 2010

Capt. Rob Eckhardt is the first to admit that he hasn’t always been responsible with money. But less than 10 years after a rocky start to saving, Eckhardt reports that he and his wife are free from credit card debt, have a down payment on a home, and are saving regularly for retirement. And, as the Military Saves representative for his Air Force squadron, he’s helping others make similar progress.

Read more...