Military Saves Week

Monday February 25, 2013

What is it?

Military Saves is conducted in cooperation with the Consumer Federation of America, one of the Department of Defense’s official financial readiness non-profit partners.

Military Saves Week from Feb. 25 to March 2, is an opportunity for our military community to come together with federal, state and local resources, including military banks and credit unions, to focus on the financial readiness of Soldiers and their families and to help them reduce debt and save for the future. The theme for Military Saves 2013 is “Set a Goal, Make a Plan, Save Automatically.”

What has the Army done?

The Army senior leaders signed a Memorandum of Support that asks commanders to commit to a goal of financial growth amongst our Army families. The America Saves slogan, “Start Small, Think Big,” is shared by Military Saves and talks to the long-term benefits of saving each month.

Commanders are encouraged to show their support by signing a “Command Proclamation in support of Military Saves Week” and to endorse local events organized by approved resources such as: the Army Community Service (ACS) Financial Readiness Program (FRP), unit command financial specialists, installation public affairs offices, local financial institutions and other approved financial organizations. Soldiers can review Military Saves, take the pledge to save and attend training in the military community.

What continued efforts does the Army have planned for the future?

While Military Saves is an ongoing campaign, the Army, and our sister services formally support the campaign during Military Saves Week, the last full week in February. The Army’s ACS FRP focuses on the financial readiness of Soldiers and their family members to help them reduce debt and save for the future.

The Army OneSource website provides interactive opportunities to learn sound financial practices using gaming scenarios.

Why is this important to the Army?

The financial readiness of Soldiers and their families is a priority for the Army because it has a direct impact on mission readiness. When Soldiers feel confident that their financial affairs are secure, they can focus on their mission without worrying about things at home. A strong financial readiness program enables Soldiers and their families to attain financial flexibility, avoid the personal and professional stressors of poor money management and protect themselves against predatory and unscrupulous lenders.

Resources:

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