Build Wealth, Not Debt

By Chief Mass Communication Specialist (SW/SCW) Terrina Weatherspoon, MCPON Public Affairs

WASHINGTON (NNS) -- "Set a Goal, make a plan, save automatically" is the theme of the 2012 Military Saves Week, which began Feb. 19, as part of the larger nationwide America Saves Campaign, conducted in cooperation with the Consumer Federation of America.

Although the Military Saves Campaign is a yearlong effort, Military Saves Week brings in community and financial resources to help service members focus on financial readiness.

"It's important for everyone to manage their resources," said Master Chief Petty Officer of the Navy Rick D. West. "You really have to take care of your needs and balance your wants. As we all know, life is unpredictable. You need to be prepared. Every Sailor should be looking to a future financial plan. If you have not sat down with a financial counselor, you could be impeding your future security."

Start small, think big is the idea behind Military Saves Week. Personal finance managers (PFM) at each military installation are the key planners and organizers of all base Military Saves Week programs and activities.

"I encourage everyone to engage in the activities going on at their commands," said West. "Your personal health and well-being start by reducing stress. And financial stress is hard to manage if you become too far in debt. I challenge you to take a month and cut out the stops for coffee, make your lunch, don't visit the vending machines, and see how much you save."

Over the past five years, more than 100,000 military members and their families have taken the pledge to save money, reduce debt and build wealth over time. In addition, many military banks and defense credit unions promote Military Saves Week and offer financial seminars and special savings programs.

Visit www.militarysaves.org and take the "Saver Pledge." Build wealth, not debt.