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Military Saves Week

February 24th, 2010

As I was so graciously reminded by Lakita from Personal Finance Journey, this week is “Military Saves Week.”


What is Military Saves Week?

Military Saves Week is a week used to raise awareness to military families of the need to develop and practice responsible financial habits.  According to MilitarySpot.com, Military Saves is part of “America Saves,” a national campaign involving more than 1,000 non-profit, government, and corporate groups encouraging individuals and families to build personal wealth.

How Does It Work?

The premise behind the Military Saves initiative is simple:

Financial stability is about a lot more than knowledge — it takes consistent action over time. Most of us do better when we have a supportive environment.

Military servicemembers and their families are encouraged to head to the Military Saves website, and take “The Savers Pledge”.  After signing up, servicemembers will regularly receive newsletters and financial advice from an e-Wealth Coach via e-mail.  By joining an active community dedicated to the cause of financial responsibility, our military families will become a generation of savers.

The Savers Pledge:

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.

I’m Not Military, How Can I Help?

I’m sure there are numerous ways to help, but here are a few I can think of:

  1. Think Locally — Look within your family or neighborhood.  Is there a military family you know that could benefit from taking part in the Military Saves initiative?
  2. Volunteer — If you live near an active or reserve military base, offer to teach a Financial Peace University class for military members & their families.
  3. Build Community — The Saver’s Pledge officially appears to be for military only, but that doesn’t mean you can’t support their cause through social networking.  Join the Military Saves Facebook page, then spread the awareness by adding a status update.  Here’s two suggestions you can copy & paste:

Facebook:  Support Military Savers Week!  ”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.”  http://bit.ly/ciqbFQ — Pass it on!

Twitter:  I stand with the U.S. Military during Military Savers Week.  http://bit.ly/ciqbFQ – Take the Saver’s Pledge & RT!

Final Thoughts

Many of our servicemembers are in their teens and early 20’s.  They are given huge signing bonuses which are often blown on the first motorcycle dealership near the base.  Spouses are left alone for months with children and without a financial plan while the other spouse is serving abroad in war.  Financial instability is one of the biggest security risks to our military. The outskirts of military bases are scattered with payday loan businesses that clearly target our young military.  They prey upon them to make horrible financial and personal decisions.  This is how we can fight back. Support your military and give them the financial tools to have success down the road.  It’s the least we can do.


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Jason Military

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