What is Military Saves Week?

By Kent Thompson, Financial Readiness Program Manager, Army Community ServiceFebruary 24, 2015

A penny saved
(Photo Credit: U.S. Army) VIEW ORIGINAL

VILSECK, Germany -- The annual Military Saves Week campaign, this year Feb. 23-28, aims to help the military community to start or continue the good habit of saving some of each paycheck to reach a goal or for an emergency.

Those who already save money can take the Saver's Pledge and help the community by being part of a network of savers. Those who haven't started saving can take the Saver's Pledge to begin a new habit, set a goal, make a plan and save automatically.

Active duty military members and their spouses can get a free credit score from MyFico? after signing on to www.militarysaves.org to take the pledge.

Many people believe that they don't make enough money to save, or that a higher paycheck will solve all their financial problems. But, more money doesn't help anyone who believes that all they need is more money and does not necessarily improve fiscal stability. Financial well-being requires an attitude change.

As an Accredited Financial Counselor, I have noticed that those who believe that all they need is more money, don't change their behavior when they get more money. I have helped transition people from a life of debt, denial and even despair to one of freedom from financial woes.

What these cases of success had in common was that they first changed their behavior toward money. When they started using it differently, they started saving money; some even started saving while still in debt.

While initially this behavior shift is difficult to start, it becomes easier and more rewarding as time goes by.

Those that don't have time to take the pledge online, can fill out a pledge card available at Army Community Service, Community Bank, Service Credit Union, or the tables in the Exchange. Financial counselors will input information and make an appointment for community members to see a financial counselor for a free credit score and to begin saving.

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