'Military Saves Week' Approaches

By Mass Communication Specialist 1st Class (AW) LaTunya Howard, Navy Personnel Command Public Affairs Office

MILLINGTON, Tenn. (NNS) -- "Military Saves Week," Feb. 20-27, is an important part of the Department of Defense (DoD) personal financial readiness campaign in which commands are encouraged to provide training and financial resource information to Sailors and their family members.

According to NAVADMIN 011/11, it is imperative that commands create a culture encouraging savings and financial readiness to better position Sailors in an ever-changing economy. The campaign is designed to alter money-handling behaviors through education on achieving long-term financial fitness.

The theme this year is "Building Wealth, Not Debt." During the financially focused week, Sailors and their families can attend lectures or participate in forums and contests, that promote personal savings, debt reduction and good financial habits.

"At the beginning of each year, many individuals and families reflect on what was accomplished financially in the previous year, and what can be improved upon in the new year," said Stacy Livingstone-Hoyte, Fleet and Family Support Center financial educator, Naval Support Activity Mid-South. "Military Saves Week is an excellent opportunity to allow experts to assist with that annual financial review."

The campaign is a combined effort between the DoD and the Consumer Federation of America.

Command leadership is urged to tap into local organizations such as banks, credit unions, public affairs and Fleet and Family Support Services. Enlisted advisors, installation relief societies, spouse groups, and child and youth programs are also additional resources.

"Self-education is key," said Livingston-Hoyte. "Spending a few minutes each day capturing financial news and headlines can empower anyone to become a better money manager."

"Financial readiness is a decision Sailors make by setting financial goals and working toward them," said Vice Adm. J.M. Bird, director, Navy staff. "Sailors and their families can become military savers by making a personal commitment."