Focus on One Reachable Goal for Military Saves Week

By Joseph Montanaro, CFP®
USAA

Pick just one goal.  That may seem like a low bar to set as you ponder all the potential opportunities for financial betterment during this year’s Military Saves Week. You don’t have to stick to just one, but one is all you might need to make the last week of February a turning point in your personal financial landscape.

Don’t get me wrong. I like the idea of thinking big — you know, evaluating your entire financial picture, setting a variety of goals, making a comprehensive plan and executing it.  

I’ve spent the past 20 years as a financial planner encouraging folks to do just that.  But this year, Team Montanaro decided to keep it very simple with our New Year’s resolution (note, it’s not plural). I encourage you to consider doing the same as you contemplate Military Saves Week.  

We picked one goal that we felt we could accomplish: systematically saving for our short-term goals and so far, it’s working. We’re well beyond the typical life span of our resolutions without a hint of failure on the horizon.

You’ve probably got plenty of lofty financial goals; maybe you want to build an emergency fund, or finally decided to participate in the Thrift Savings Plan, or maybe you want to simply set and stick to a budget that frees up money to pay off debt. There’s probably a long list of things you’d like to save up for. 

All of the aforementioned are all great ideas, and I’d love to see you get them all done. However, I’d be happier to see you pick one goal and succeed, instead of trying to achieve them all and falling on your face. 

Military Saves Week is a great opportunity to choose one concept — one small but sustainable goal from many great ideas. Ask yourself this question: “What’s one thing that could make a difference in my financial life?” Then follow through with the action it requires. Make it your “I’m saving for” goal for Military Saves Week.

Knock out one small thing, and you’re on your way to improving the big picture of your finances. Good luck and don’t forget to take the pledge this Military Saves Week! 

Tip of the Day

  • Written by Tammy G. Bruzon | February 3, 2017

    Starting your savings now ensures a more comfortable retirement later on! http://bit.ly/2jPi3bT via @MilitarySaves #MSW2017

Saver Stories View all »

Money on the Side

Written by Super User | November 26, 2010

Camp Arifjan, Kuwait -- A colonel in the 1st Theater Sustainment Command has money on his mind.

Army Col. George Fields, the Chief of Intelligence, or G2, has been teaching a free "Managing Your Money" class here in his spare time. More than 400 students have attended his six week-long class to learn more about increasing their own finances.

"All I did was sit down and listen to a guy one day who showed me what he was doing" said the colonel as he explained how he became interested in what he calls, "becoming financially free."

Read more...

One Sailor's Course to Financial Freedom

Written by Super User | November 26, 2010

We all know its not easy to get out of debt once you in over your head. But it can be done with the sound advice and support that the Military Saves program offers. I am a testament to that. I was a recently divorced, single mother. Like many people I had credit card debt, a car loan, bad credit, and a low income job that never seemed to be enough to put food on the table.

Then I decided I'd had enough of living paycheck to paycheck and worrying about money all the time.

Read more...

One That Almost Got Away

Written by Super User | November 26, 2010

Brody Lockwood - Like a typical fledgling, I started down the track of financial indebtedness. Nineteen years old and nothing to lose. Credit - who need it? Savings - that was for older people with responsibility. Debt - my parents were in debt ergo it must be OK. When I was eligible for reenlistment, I reenlisted for a multiple of 3 worth $15K. I was happy to pay off my debt, but would I be able to stay out of debt?

Read more...