Military Saves Week kicked off at U.S. military installations worldwide on Monday.
Every year, America Saves, a non-profit foundation designed to help Americans make smarter financial choices, hosts Military Saves Week, a military oriented campaign observed aboard military installations and sponsored by various financial institutions and other organizations.
Military Saves Week focuses on helping to educate military service members and their families on healthy saving and spending habits as well as assessing their own savings status, reducing their debt, and increasing their wealth.
Military Saves Week offers events and classes across all branches of service at over 100 installations worldwide during the week. Some of the events include luncheons, workshops, youth focused savings discussions, and prizes.
SCHOFIELD BARRACKS — Military Saves Week runs from Feb. 27 to March 3. The Financial Readiness Program is offering financial counseling, classes, and other events to help service members and their families manage their money. (U.S. Army photo by Kristen Wong)
Most of the events will focus on benefits and how best to use them, with nearly every installation hosting at least one event focused on the new Blended Retirement System.
Military Saves Week works alongside the Department of Defense’s Financial Readiness Campaign.
General Dunford wrote in a memo for the chiefs of the military services on Oct. 7, 2015, in preparation for last year’s Military Saves Week:
“Military Saves Week is an opportunity for our military community to come together with federal, state, and local resources, to focus on the financial readiness of military members and their families and help them reduce debt and save their hard-earned money.”
Dunford went on to write, “We are asking our military members to commit to feasible financial goals.”
Participants in Military Saves Week are asked to sign a pledge that reads “I will help myself by saving money, reducing debt, and building wealth over time. I will help my family and my country by encouraging other Americans to Build Wealth, Not Debt.” The pledge goes on to help the participant set goals for savings, with the option to receive text message updates for savings tips and financial advice.