Military Saves Week Encourages Fiscal Fitness

By Amaani Lyle

American Forces Press Service

WASHINGTON, Feb. 24, 2014 – Now in its eight year of partnership with America Saves Week, the Defense Department’s Military Saves Week begins today to help service members achieve financial security, flexibility and confidence, a Pentagon official said in a telephone news conference here today.

The partnership initiatives continue to gain ground, with nearly 159,000 military members and their families taking the Military Saves pledge since 2007, said Barbara Thompson, director of the Defense Department’s office of family policy and children and youth.

“Military Saves Week is our chance to focus on healthy financial practices that we know are important every day of the year,” Thompson said.

DOD has a range of tools and services -- including personal financial counselors -- to help service members and their families set a goal, make a plan and save automatically, Thompson noted.

“The complexity of today’s financial environment combined with the reality of military life, including frequent moves and deployments present special financial challenges for service members and their families,” she said. “Their personal financial readiness is vital to our national security.”

Lenders, banks and educational institutions are among the dozens of participants who will promote good financial habits and strategies with tools for military members and their families to track their savings successes.

“It allows a mission focus free of worry about things at home,” she said. “In the Department of Defense, financial readiness is mission readiness.”