JOINT BASE SAN ANTONIO - RANDOLPH, Texas –
Joint Base San Antonio military members and Department of Defense civilians will have an opportunity to learn ways to save their money and invest for the future at more than a dozen free financial workshops Feb. 26-March 3.
The workshops at JBSA-Fort Sam Houston, JBSA-Lackland and JBSA-Randolph will highlight Military Saves Week, an annual readiness initiative that seeks to motivate, support and encourage military families to save money, reduce debt and build wealth.
“We want to encourage the members of our military community to save their money and invest it wisely, preparing them for the future,” said Bob Williams, JBSA-Randolph Military & Family Readiness community readiness consultant. “We’re reaching out to them, emphasizing the importance of money in their lives and showing them how to utilize it in a way that it becomes a pillar of stability.”
Although Military Saves Week officially begins Feb. 26, one event is planned for 4-6 p.m. Feb. 22 at JBSA-Lackland’s Stacey Junior-Senior High School. During “Understanding Student Loans,” students will learn about different kinds of loans and better understand loan repayment options.
Three workshops are scheduled at JBSA-Fort Sam Houston’s M&FRC, 3060 Stanley Road: “Understanding Your Retirement” from 1-3 p.m. Feb. 26, “Thinking Money (Couples)” from 8-10 a.m. Feb. 27 and “Hit the Road Debt!” from 3-4:15 p.m. Feb. 28.
During “Thinking Money,” couples will explore ways behavioral biases affect financial decisions, how too many choices can be paralyzing and how a good nudge can help them achieve goals.
In addition to the loan workshop for students, sessions at JBSA-Lackland will be “How to Save 101” from 11:30 a.m. to 1 p.m. Feb. 27 and “TSP Account Check-Up,” a 30-minute one-on-one consultation, both at the M&FRC, 2160 Kenly Ave.
“The highlighted activity here at JBSA-Lackland will be our Thrift Savings Plan clinic,” said Kevin Keith, M&FR personal financial readiness manager. “Members will have a chance to meet with a counselor and review their individual TSP account and get questions answered about how and where there money is being invested within the TSP. Many folks have signed up for the TSP and never thought about it again, but this will be an opportunity to ensure that their money is working hard for them.”
Four workshops are planned at the JBSA-Randolph M&FRC, 555 F Street West: “Maximize Your Tax Return” from 10-11:30 a.m. Feb. 26, “Wise Investment Strategies” from 10-11:30 a.m. Feb. 27, “Social Security and You” from 10-11:30 a.m. March 1 and “Discover Your Money Personality” from 10-11 a.m. March 2.
A workshop for high school students, “Money Smarts Youth Rally,” is scheduled for 5:30-7:30 p.m. Feb. 28 at JBSA-Randolph Youth Programs, building 585. During this session, students will learn about the value of money and how it affects every aspect of life.
“Maximize Your Tax Return” is a new offering during Military Saves Week, Williams said.
“Most of our young military members will be getting a tax refund, so we want them to utilize it in a productive way,” he said. “A tax refund offers an investment opportunity.”
Another new workshop is “Discover Your Money Personality,” which explores the psychology of money and how individual values influence money management decisions.
“This workshop helps individuals gain insight into their use of money, the value they place on it and the decisions they make with it,” Williams said.
The workshops are facilitated by staff members at JBSA M&FRCs and by representatives of banks and credit unions based at the JBSA locations.
Throughout the week, patrons can schedule an appointment at any of the M&FRC locations to receive a free credit report and FICO score, Williams said.
Military Saves Week is also an opportunity for members of the military community to commit to saving by taking the Savers Pledge online at militarysaves.org, a website that provides a wealth of financial information, or at the workshops. Military Saves is a component of America Saves, a campaign managed by the nonprofit Consumer Federation of America.
Military Saves Week allows members of the JBSA community to stop and consider their savings strategy, Keith said.
“The goal is for members to understand that they need to pay themselves first through a structured savings plan rather than an ‘I’ll just save what I have left over’ mentality,” he said. “It is through such a structured consistent savings strategy that members will be able to meet life’s unexpected challenges and still attain their short- and long-term financial goals.”
Financial savvy also contributes to mission readiness, Williams said.
“Military members who are worried about their family’s finances and are in debt cannot focus on the mission because they’re worried about other things,” he said. “The better we can teach our young military members the importance of money, the more productive they can be in their military careers and in their family lives.”
For more information, call 221-2705 at JBSA-Fort Sam Houston, 671-3722 at JBSA-Lackland or 652-5321 at JBSA-Randolph.