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 13, 2014

    Start an emergency fund by saving $10/week or $40/month to save $500 by the end of the year http://ow.ly/rswS2

Saver Stories View all »

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...

Naval Battalion's Effort Yields Team Success

Written by Super User | November 26, 2010

Construction Battalion Five, DETAIL CHINHAE would like to share our campaign success story with you!

Currently we have 23 members on our Det, (all of whom have registered with militarysaves) and out of them 16 are planning for retirement by saving and investing money in the Federal Thrift Savings Plan.

Read more...

One Sailor's Course to Financial Freedom

Written by Super User | November 26, 2010

We all know its not easy to get out of debt once you in over your head. But it can be done with the sound advice and support that the Military Saves program offers. I am a testament to that. I was a recently divorced, single mother. Like many people I had credit card debt, a car loan, bad credit, and a low income job that never seemed to be enough to put food on the table.

Read more...