RANDOLPH AIR FORCE BASE, Texas –
A yearly campaign that encourages military families to save money so they can meet their immediate and long-term financial needs begins Sunday.
Military Saves Week, which runs through Feb. 28, is a partnership of the Department of Defense and the nonprofit Consumer Federation of America and is part of the DoD Financial Readiness and national America Saves campaigns.
"The goal for this year's campaign is to enable our service and family members to avoid common financial pitfalls such as overreliance on credit, spending beyond one's means and inability to retire comfortably," Deputy Under Secretary of Defense Tommy Thomas said in a memorandum announcing this year's campaign. "Most importantly, in ensuring our service and family members are financially ready, they will also be mission-ready, enabling commanders to support both current and future military operations."
A hallmark of the campaign is the Saver Pledge. By filling out and signing an online document at www.militarysaves.org, service members pledge to help themselves "by saving money, reducing debt and building wealth over time" and their family and country "by encouraging other Americans to build wealth, not debt."
A week's worth of workshops designed to help Randolph Airmen make better financial decisions are on tap at the Airman and Family Readiness Center throughout the week as a complement to Military Saves Week. The programs range from basic investments to the thrift savings plan.
Wendy Warner, Airman and Family Readiness Flight community readiness consultant, said this year's slogan, "Start Small, Think Big," is good advice for service members just beginning a dedicated savings program.
"We like to see people put money into an allotment," she said. "It's that idea of paying yourself first."
How people choose to set aside money is up to them, but they have a wide range of options from savings and retirement accounts to other kinds of investments, said Astrid Lutter, A&FRF personal financial consultant.
Ms. Warner encourages people to start the process by setting up an appointment at the A&FRC to put together a budget so they can see the areas where they can save money and she can discuss their options.
"Everybody should be saving 10 percent, but if you can only start at 3 percent, it's definitely better than nothing," she said. "Start small, but think big."
The one-on-one counseling sessions, workshops and seminars offered at the A&FRC are not the only financial education opportunities available at Randolph. The flight's financial consultants also visit units throughout the base to discuss money matters.
"We cover the full gamut of financial services," Ms. Lutter said.
Ms. Warner encourages members of the base community to take advantage of the workshops during Military Saves Week and the A&FRF's services throughout the year to set themselves on the path to strong financial health.
"People don't think about the future when it comes to money," she said. "But a little bit of goal-setting is so critically important. It's all about priorities."
For more information, call Ms. Warner at 652-5321 or visit www.militarysaves.org.