Military Saves Blog
Tips, advice, and the latest news from the savings world.
How Teaching Good Money Skills Early Pays Off in the Long Run
September 25, 2012
by Kimberly Shuck
FINRA Military Spouse Fellow
As a child, I was taught by my parents to save my money for a rainy day. They made sure I saved at least ten percent of any allowance, birthday or Christmas money. I even remember saving money I received from the tooth fairy. She didn’t pay what she does now! My parents modeled how to live within their means and be happy about it. Their actions and expectations for how I handled money laid a strong foundation for my financial success in adulthood.
Retirement Savings: Top Savings Goal for Military Savers
21 September 2012
Andia Dinesen, AFC ®
Military Saves Coordinator
In a survey conducted earlier this year, Military Saves learned that the top savings goal of Military Savers is retirement, followed by debt repayment, and emergency fund. For entire survey results, click here.
The survey, conducted a from 19 April to 10 May, 2012, was completed by over 700 Military Savers who have taken the Military Saves pledge from 2007 to 2012. This is a convenience sample that was collected through a request to Savers through the Military Saves monthly eNewsletter, direct email, and Military Saves Facebook and Twitter pages.
The survey results can be found on MilitarySaves.org.
Why I Love My Emergency Fund
September 20, 2012
By Rebecca White
FINRA Military Spouse Fellow
Even in the best times military life can hardly be qualified as stable. We come, we go, our friends come and go and our servicemembers come and go even more. All the coming and going brings job loss, new homes, new climates, new people and new places. I love the life and I think the military does a great job of smoothing the
transitions. But when it comes to money and financial stability it’s mostly up to us. If I can say one thing about military life and money, it’s taught me to love my emergency fund. Here are the top 5 reasons why:
True Story: Starting Over
September 19, 2012
by Katie Bryan
America Saves Communications Manager
Until last summer, Michael Lindman spent money freely. “I was a union truck driver for 35 years and had a good income,” said Lindman. “I owned my own home, saved a little, and tried to live within my own budget. You always think there’s going to be that much coming in, but things can change in a split second.”
September 18, 2012
by Lila Quintiliani, AFC®
Military Saves Assistant Coordinator
I'm writing this post from the local garage, where I will be spending a lot of time for the next couple of days. It started out innocently enough -- I took my husband's car in because one of his headlights was out. See, with his make of car (a luxury brand, albeit an 8 year old one) I know you have to basically take the front end off to get to the headlights, so it's not a do-it-yourself kind of project. But it turns out it's not just the headlight that needs replacing, there's something wrong with the ballast. We can't drive around without a headlight, so I've got to get it replaced. For just under $500. Ouch.