Airmen and families encouraged to save

  • Published
  • By Airman 1st Class Janine Thibault
  • 354th Fighter Wing Public Affairs
EIELSON AIR FORCE BASE, Alaska --  Spending is a tempting action that can render a full bank account bare if the owner is not careful. As a method to combat and prevent financial instability the Department of Defense Military Saves program will take place Feb. 21 through 28 on Eielson Air Force Base.

"Start Small. Save big," represents the mentality of the program which focuses on saving.

"The goal for this year's campaign is to enable our service and family members to avoid common financial pitfalls," wrote Tommy Thomas, Deputy Under Secretary of Defense. "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."

The Military Saves program supports developing personal financial plans, establishing good credit, saving a portion of each paycheck and enrolling in the Servicemembers' Group Life Insurance, Thrift Savings Plan and the Savings Deposit Program.

During the course of the year, each quarter will have a focus. The themes for the four quarters will include saving and investing, military youth, debt reduction and retirement.

For those that may not be financially able to save at the moment they can sign-up and use the materials and newsletters they receive to be informed, so when they are ready to start saving they will be knowledgeable.

Since everyone's finances are affected by their choices the program reaches out to all four branches of the military and the U.S. Coast Guard to inform people of financial choices.

It is important that service members and their families save in order to reach their lifetime goals, said Michele Dresel, an Airman and Family Readiness Center family and work life consultant. People have to be able to make their goals happen for themselves and one of the ways to do that is by saving.

Everyone is encouraged to set up a real budget and pay their bills on time, said Michele Dresel. By setting up a budget with every habitual expense the budget will be as accurate as possible and help the person to visualize their spending habits.

Those eligible include active duty members, National Guard and Reserve service members, Department of Defense civilians, retirees, veterans, Defense contractors and family members.

Financial classes geared toward the theme of Military Saves will be held at the Airman Family Readiness Center. The classes include topics on budgeting and setting goals, foreclosure avoidance, credit, and investing. The installation credit union plays an important role in educating Eielson by teaching the investing class.

For more information about the Military Saves program go to www.militarysaves.org. The AFRC is also available for questions and guidance.

Although saving is an individual action the financial stability of Airmen is important to the instillation as a whole as we stay prepared for the mission.