Military Saves Week 2018

February 26 – March 3, 2018 is Military Saves week.  This is a special week, allowing installations and organizations to promote good saving behaviors and enhance financial readiness.  Financial troubles can cause security clearance issues, marriage problems, and undue stress on our military members.  Our military pay is dynamic, and can quickly slip out of control if we’re not paying attention.  Additionally, this week allows installations to provide financial resources similar to pre-sequestration (2013) levels.

During sequestration, the Department of Defense lost many of its on-site Certified Financial Planners (CFP).  In lieu of the CFPs, our Family Readiness Centers were trained on basic finances and provided tools and materials to hand out to military members.  During Military Saves week, many of our installations get a CFP on base for FREE financial counseling.  CFPs can charge up to $200 an hour for professional advice and it’s free during military saves week.  Call your Family Readiness Center for more information.

Many of our amazing credit unions participate as well—typically setting up informational booths at Family Readiness Centers.  Some credit unions offer discounted loans, new account services, and financial advice.  It’s mostly informational to encourage military members and their families to save.

This is also a good time for non-profit organizations to promote their services.  This varies depending on location, but most focus on military members in severe financial troubles.  I’ve seen non-profits offer free items for families with newborns (e.g., diapers, formula, etc.), used furniture for free, clothes, and even cash for immediate needs.

WHAT CAN I DO TO SUPPORT MILITARY SAVES WEEK?

The best way to support your installation’s Military Saves week is to personally visit your Family Readiness Center and see what services they’re offering.  If you’re a supervisor, senior enlisted, or commander (at any level), then encourage your subordinates to go with you.  At a minimum, send out an e-mail, talk to people about it, or make a public announcement during recurring meetings.  Here’s a link to the 2016 Military Saves Week Report.