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

Kickstart Your Savings: Have a Plan for Your Refund

Debt Saving Tax Refund
Written by Super User · 03 January 2013

January 3, 2013
By Lila Quintiliani, AFC®
Military Saves Assistant Coordinator
Communication and Outreach

About 80% of Americans got some sort of tax refund last year. According to a 2012 survey by the National Retail Foundation, 4 out of 10 Americans planned on using their return to pay down debt.  28.7% planned on using it for everyday expenses while over 33% were going to use it as “free money” to spend on a large purchase, such as a car or a vacation.  But by far the best idea is to have a concrete plan for your tax refund

The 30-40-30 Plan
One way you can look at dividing up your return is called the 30-40-30 Plan.  Using this plan, you take 30% of your refund and pay down debt.  You use 40% of your refund toward current needs (and this might include some discretionary spending).  Then you use the final 30% toward savings, whether that’s to build up your emergency fund or for longer-term savings.  If you have at least $500-$1000 in your emergency fund you can consider other savings goals, such as using a portion of your return to buy bonds or allocating more money to your retirement or college savings account.

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Be as Smart as Your Phone: Protect Yourself from Identity Theft

Consumer Protection
Written by Super User · 02 January 2013

The following post comes from the America Saves Blog. Follow them on Twitter and Facebook.

By Katie Bryan
America Saves Communications Manager

Consumers with smartphones spend a lot of time with their device of choice. Now, with so many flashy websites and applications (apps), it’s just as easy to spend or move a lot of money through our phones.  But are you taking steps to protect your identity through your Smartphone? The Los Angeles Department of Consumer Affairs developed tips to help you protect your identity at a time when many of us are using our phones to do our banking, pay our bills, or buy products with the click of a button.  Here are 10 tips from Consumer Affairs on avoiding identity theft on your smartphone:

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How to Plan for Your Future When You're Already Behind

TSP 401K IRA Retirement Savings
Written by Super User · 27 December 2012

December 27, 2012
Originally published on USAA.com

Maybe you cared more about Woodstock than shares of stock. Or it could be that you kept a closer eye on your favorite MTV VJ than on your 401(k).
Whatever the reason, you've put off saving for your retirement — until now. With retirement on the horizon, you worry that you're too late, that you'll never amass enough money, that your retirement dreams will stay just dreams.

If that's you, then listen up: It's not too late! If you're within 20 or even 10 years of retirement and haven't saved, you can still get a plan rolling. Here are three ways:

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How to Recover from Your Holiday Spending Binge

Budgeting Holiday Spending
Written by Super User · 26 December 2012

December 26, 2012
By Lila Quintiliani, AFC®
Military Saves Assistant Coordinator
Communication and Outreach

The wrapping paper is strewn around the house, you’ve had one too many helpings of pumpkin pie, and you’re afraid to go to the mailbox and get January’s credit card statements.  It’s happened again: you overspent this holiday season.  You’re not alone.  According to one survey, despite the financially tough times, the average American planned to spend more on holiday gifts this year than last.  If you didn’t pay cash, you must now pay for those gifts.  And if you want to start the New Year off on the right note, you’ll need to have a recovery strategy for your finances.

Stop Spending – You may be tempted to take advantage of all the after holiday sales, but if you already can’t pay for the gifts you gave, you should stop accruing more debt.

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Get Rich Slow: Maximizing Your Retirement in 2013

TSP Thrift Savings Plan Retirement Savings
Written by Super User · 20 December 2012

December 20, 2012
by CPO Tim Duncan, USN

The bi-weekly regularity of military pay, along with the relative job security we enjoy, creates a paycheck-to-paycheck culture where saving has been placed on the back burner. Regrettably, many servicemembers have little to no savings in place, while others have found themselves overburdened with debt. Yet there are many programs in place that help us overcome this trend, and the Thrift Savings Plan is the most powerful savings tool among them.

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Tip of the Day

  • Written by Katie Bryan | November 29, 2013

    Transferring #money from #checking to #savings is the fastest way to #save $500 - $1,000 >> http://ow.ly/e7ClM

Saver Stories View all »

How Smart Financial Decisions Can Create Opportunities 

Written by | November 22, 2019

Written by Stephen Ross, America Saves Program Coordinator | November 22, 2019

Of the many stories Military Saves shares, most describe how someone was in dire straits financially and worked their way out of it with the help of Military Saves. This time we at Military Saves want to highlight a different kind of story. This is a story about how responsible financial decisions can build on one another to create opportunities you thought only the super-rich enjoy.

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Setting a Goal Leads to Success

Written by Super User | May 24, 2019

Growing up, Marisa’s dad had always talked about saving first, but she said she didn’t really internalize it until much later. “I was drifting along with no plan, carrying a little bit of revolving debt, saving some money here and there, but without a real plan for it.”

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Involving Kids in Family Finances

Written by | April 19, 2019

 

One of the best lessons we can share with our kids is about money. By middle school, kids should have a good understanding of how money works as well as the importance of saving.

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