By Justin Creech, Belvoir EagleFebruary 16, 2012
The Soldier & Family Assistance Center is hosting a series of financial education classes, one a week, this month for members of the Warrior Transition Battalion in support of the Nationwide Military Saves Campaign.
Military Saves is a social marketing campaign to persuade, motivate, and encourage military Families to save money every month and to convince leaders and organizations to be aggressive in promoting automatic savings.
While it is an ongoing campaign throughout the year, the entire military community comes together to focus on financial readiness during Military Saves Week, held last full week in February.
The series consists of four classes that share saving techniques focusing on better money management, credit improvement, overall debt-reduction, establishing long and short term savings goals, and negotiating with creditors to lower interest rates.
"Regardless of your level of financial experience there is valuable information to be taken away from this seminar," said Alec J. Studstill, SFAC Financial Advisor. "Such opportunities shouldn't be passed up."
Each class focuses on different saving techniques from "Organizing your playbook" to "Practicing the fundamentals and implementing smart plays and avoiding penalties." During the class Soldiers learn specific techniques which include, organizing finances by listing out all your income and expenses, credit monitoring, paying yourself first, saving for emergencies, insurance and healthcare needs, saving for school or home and retirement.
"Practicing these fundamentals will keep you in the game and winning," Studstill said.
The seminars cover tips on maintaining, improving and -if necessary - rebuilding your credit score. It also teaches common mistakes that will lower a person's credit score.
"Seminars such as these teach Soldiers how to become financially successful," said Studstill. "If Soldiers utilize the information given out they will gain valuable financial knowledge whether you're just entering service after high school with little to no financial experience or you're at the point of retirement with a great deal of experience."
Studstill started the classes because he felt it was important that members of the WTB received sound financial advice.
He organized the classes a week apart to be sensitive to the Wounded Warriors needs.
"By doing so this would allow more warriors to attend and not interfere with their ongoing medical appointments and treatments," Studstill said. "I had to be sensitive to the warriors needs and see that their mission while in the WTU is to heal and transition back to active duty or return home."
The remaining classes are on Tuesday and Feb. 28 from noon to 1 p.m.
For more information on the classes, contact Alec Studstill at (571) 231-7017.