Military Saves Blog

Blog

Tips, advice, and the latest news from the savings world.

Stacks of coins in dirt with sprouts coming out of them.

What to do With a Windfall

Savings Tips Military Saves Week
Written by Guest Blogger · 01 March 2018

By Dr. Barbara O’Neill, Financial Management Specialist, Rutgers Cooperative Extension

It is very common for people to receive extra income during tax season. Almost 83% of tax filers in 2016 received refunds and the average refund was $3,120. Other types of cash windfalls include gifts, inheritances, settlements, contest prizes, lottery winnings, and life insurance proceeds.

Read more ...

Golden egg in a birds nest with a slip of paper in it reading "Retirement"

Tips for a Successful Mission

Retirement Military Saves Week Blended Retirement System
Written by Guest Blogger · 28 February 2018

By Kevin Driscoll, CFP®, VP, Advisory Services, Navy Federal Financial Group 

It’s great to see saving for retirement was the top goal for Military Savers in 2017. It’s top of mind once again as the Blended Retirement System rolls out for service members this year. So, how do we turn our retirement savings goals into reality?

Read more ...

Yellow sign reading, "What's your plan for retirement?"

Four Ways to Maximize Your Retirement through the Blended Retirement System

Retirement TSP Military Saves Week Blended Retirement System
Written by Guest Blogger · 28 February 2018

By The USAA Educational Foundation

As of January 1, 2018, the new Blended Retirement System (BRS) took effect for eligible service members. The plan includes a smaller 20-year military retirement annuity, automatic and matching contributions to the Thrift Savings Plan (TSP), a mid-career continuation pay component, and lump-sum distribution options at retirement. Here are four ways you can maximize your retirement with the Blended Retirement System.

Read more ...

Clear jar with a piece of tape on it saying, "Emergency"

Emergency Savings

Emergency Fund Emergency Savings Military Saves Week
Written by Guest Blogger · 26 February 2018

By Operation HOPE Jena Roscoe, Senior Vice President, Government Relations, Public Policy

NOW is always the time to strengthen your financial preparedness for disasters and emergencies.

Read more ...

Pink piggy bank wearing glasses sitting on top of a keyboard.

Challenge Yourself to Increase your Savings in 2018 by Saving Automatically

Automatic Savings Military Saves Week
Written by Guest Blogger · 26 February 2018

By Andia Dinesen, AFC ®, VP Communications & Operations, Association of Military Banks of America

Set a goal.  Make a plan.  Save automatically.  These simple instructions and theme for Military Saves Week could help you reach your saving goals in 2018.

Read more ...

Tip of the Day

  • Written by Guest Blogger | March 11, 2014

    The first step in getting out of #debt is to stop borrowing. Get tips on how to begin at http://ow.ly/tMA0N

Saver Stories View all »

Regular Savings is the Key to Success

Written by Super User | November 26, 2010

My name is Chris Strong. I joined the Air Force on 25 March, 1985. On that day, my financial life changed forever. I was introduced to saving bonds in Basic Training. Savings bonds were the big thing back then just like the Thrift Savings Plan is today. A Colonel gave us a briefing. I cannot remember his name but I can remember the 100 savings bonds he had posted to a piece of card board. He gave us a speech on the importance of saving money and how it can change your life. He inspired me to save.

Read more...

A Plan for Success

Written by Super User | April 26, 2012

I’m Staff Sergeant Robert Zuniga and I have been an active duty Air Force medic for eight years. I plan on staying in long enough so that I can retire at 20 years. I have always been interested in personal finance and would like to share how it IS possible for me and my stay-at-home wife and two kids to not only save and invest a ton of money but also have a lot of responsible fun as well on 'low' enlisted pay. You CAN do it too!

First off, we write down our goals and separate wants from needs.

Read more...

Building Wealth by Setting Goals

Written by Super User | April 24, 2013

My name is Allison Mecadon and I’m a Youth Coordinator with the Virginia National Guard Youth Program. My husband, Tom, is an M-Day Army National Guard Member (an M-Day member is one who performs weekend drill, but is not on full-time duty).

Read more...