Military Saves Blog

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

Protecting Your Savings: Is the SGLI Enough

Insurance
Written by Super User · 21 August 2012

Protecting Your Savings: Is the SGLI Enough?

August 21, 2012
By Lila Quintiliani, AFC®
Military Saves Assistant Coordinator

To be a successful saver, you’ve really got to have all your bases covered.  You could have a nice fat bank account, but if you don’t have auto insurance and you get in an accident, or if you don’t have renter’s insurance and your dog bites the neighbor’s kid, you could be in big financial trouble.  So in order to preserve what you’ve got, you can’t ignore what I like to term “the boring stuff.”  Yet life insurance is something that most service members are completely uninterested in.  Yeah, I’ve got SGLI.  That’s all I need.   Yawn.  But it’s not quite as simple as that.  For some servicemembers, the standard top tier of SGLI coverage, $400,000, is way too much, but for many others, it is not nearly enough.

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Theme in Review: Getting Out of Debt

Debt
Written by Katie Bryan · 17 August 2012

August 17, 2012

By Katie Bryan, America Saves Communications Manager

Over the past six weeks, the America Saves blog has featured a number of debt related articles. Given that getting out of debt is one of the most cited savings goals by American Savers, we sincerely hope that these many articles have been informative and helpful. We would like to thank our guest bloggers who have contributed some fantastic articles, as well as feature them once again before beginning our next theme for Young Savers and their parents.

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Saving for Retirement: TSP Contribution Allocations and Interfund Transfers

Retirement TSP
Written by Super User · 15 August 2012

Saving for Retirement: TSP Contribution Allocations and Interfund Transfers—What’s the Difference?

August 15, 2012
by Miriam Darden Settles, CFP®
Federal Retirement Thrift Investment Board

Contribution allocations and interfund transfers are transactions that you can make so that your TSP money is invested in the funds that you want.  What’s the difference between the two?  One directs the new money coming into your account, while the other lets you move around the money that’s already in your account.

Let’s take them one at a time.

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Back to School Savings

Written by Super User · 14 August 2012

Back to School Savings

August 14, 2012
by Jennifer Armstrong
National Guard Bureau
Family Programs Financial Readiness Program Manager Joint Staff J-1It’s the most wonderful time of the year…. 

I love summer. I love to water ski, go to the lake and bask in the heat. I simply love it. But when my daughter was in elementary and high school do you know what my favorite time of year was? BACK TO SCHOOL! I am doing the happy dance as I type this! No more whining about how there’s nothing to do. No more whining allowed! No more television at 2300! You have got to go to bed! School is in session.  However, the reality was I was not fond of the many expenses that I had to incur. I wondered how often would she really use that compass and why did she need it the first day of school? Were they going to draw concentric circles their first day of school? Then there were the uniforms. She went to elementary school in Oceanside California. They wore uniforms. I thought I loved that idea. But can you tell me what 7 year old can keep a white polo shirt white?

If any of this sounds like you, you’re faced with the purchasing of various school supplies, maybe not just for one, but for multiple children. Or maybe you’re a teacher who doesn’t get reimbursed for supplies.  How do we cut costs for this most wonderful time of the year? Read on…

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Paying for College: Where to Get Money for Your Education

Saving for College
Written by Super User · 13 August 2012

Paying For College: Where to Get Money for Your Education

August 13, 2012
Originally published on USAA.com

With high tuition and the tough job market, you may wonder if getting a college degree is still worth the cost. It is, according to recent research.

A U.S. Census Bureau study released in September 2011 shows your education level affects your paycheck: If you work full time and year-round, a bachelor's degree can help you earn between $681,000 and $1.2 million more than a high school diploma.
To help find the cash to pay for an education in today's economy, here are five methods and their pros and cons.

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Tip of the Day

  • Written by Guest Blogger | September 30, 2014

    Develop a long-term plan and foundation for financial readiness by establishing a spending plan. More tips at: http://ow.ly/sCvQQ

Saver Stories View all »

Making Savings a Part of Marriage

Written by Super User | November 26, 2010

Capt. Rob Eckhardt is the first to admit that he hasn’t always been responsible with money. But less than 10 years after a rocky start to saving, Eckhardt reports that he and his wife are free from credit card debt, have a down payment on a home, and are saving regularly for retirement. And, as the Military Saves representative for his Air Force squadron, he’s helping others make similar progress.

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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.

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Airman Succeeds Through Dedication to Building Wealth Not Debt

Written by Super User | October 13, 2011

I came into the Air Force at 23 years old in 1993 with about 12 outstanding bills (hospital bills, car loan, car insurance, school loans, credit cards, etc.). You name it, I had the bill. Thanks to the Family Support Center, Dave Ramsey's Financial Peace University, and many other sources, I now have no outstanding bills.

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