JOINT BASE SAN ANTONIO-RANDOLPH, Texas -- Some 20 sessions chosen to educate Department of Defense cardholders on a variety of financial topics, from the new Blended Retirement System to credit management, are planned Feb. 27-March 3 throughout Joint Base San Antonio.
A readiness initiative authorized by the undersecretary of defense for personnel and readiness, Military Saves Week’s emphasis is saving for the future.
“Military Saves Week is an annual opportunity for organizations, local partners and installation banks and credit unions to promote good savings behavior and a chance for service members and their families to assess their own saving status,” said D.C. Lanier, JBSA-Fort Sam Houston Military & Family Readiness Center work/life specialist. “It’s a time to focus on financial readiness, including the reduction of debt and saving toward personal and family goals.”
Military Saves Week kicks off with an overview of the Thrift Savings Plan from 9-10 a.m. Monday at the JBSA-Fort Sam Houston M&FRC and concludes with a retirement planning session from 11 a.m. to 12:30 p.m. March 3 at the JBSA-Randolph M&FRC. In between are a variety of sessions ranging from “The Future of Banking” to “Are You a Smart Consumer?”
Most of the sessions are scheduled at the JBSA M&FRCs or JBSA-Lackland’s Gateway Club, but the IMCOM Theater at JBSA-Fort Sam Houston will be the site of a session called the “Heroes at Home Financial Event.”
The “Heroes at Home Financial Event” will feature speaker, author and family financial expert Ellie Kay and other financial advisers telling participants how to live rich for less, improve their credit score and save for the future. Signed books on financial topics and other prizes will be given out during the event.
The new Blended Retirement System will be a focus at all three locations.
Bob Williams, JBSA-Randolph M&FRC community readiness consultant, said service members will learn about the basic features and concepts of the new retirement system that goes into effect next year and how it compares to the traditional legacy system.
“Less than 20 percent of service members actually retire from the military,” he said. “Under the new Blended Retirement System, every person who joins the military – whether it’s for the initial commitment only or a longer period of time – will begin the process to build their retirement nest egg. Previously, there was no retirement advantage if they didn’t serve for 20 years.”
A session titled “Couponing in the 21st Century” will help shoppers save money.
“This class will focus on the different ways to save money and balance out that stressor in your life,” said presenter Amanda Griffin, JBSA-Lackland M&FRC community readiness specialist. “Participants will learn how to save on travelling, eating out and using their military discount; get rebates after shopping; and sell items on apps and social media. This class will touch on a little bit of everything when it comes to saving money in everyday life.
“This class is all about putting more money back into your pocket and not paying full price when you don’t have to,” she said.
Military Saves Week also reminds members of the military community to focus on their saving habits by taking the Savers Pledge online at militarysaves.org.
Financial readiness is especially important for service members, Lanier said.
“With service members facing unique and complex requirements of deployments, family separation, frequent moves, spouse employment issues and other stressful situations, the importance of service members having their financial affairs in order takes on a heightened level of importance,” he said.
Financial readiness and mission readiness go hand-in-hand, Williams said.
“What we try to do with Military Saves Week and our classes throughout the year is help our military community understand the importance of financial readiness,” he said.