Military Saves Blog

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

Emergency Preparedness - Are you Ready Financially for an Emergency?

Written by Super User · 10 July 2012

10 July 2012
By Lila Quintiliani, AFC ®
Military Saves Assistant Coordinator

You’ve got a flashlight, batteries, a weather radio and gallons of water.  So you’re all prepared for an emergency, right?  Maybe not.  See, you also need to be financially prepared for emergencies, or you can take a hard hit right in the wallet when disasters, natural or otherwise, strike.

Here are some things to consider when it comes to emergency financial preparedness:

  • How’s your insurance coverage?  If you are a homeowner, do you have adequate coverage for your possessions?  Do you live in a flood-prone area, even if the area is not formally designated as such on a flood map?  If so, you may need to buy a separate flood policy, because most regular homeowner’s policies do not cover damage from flooding (or earthquakes).  If you live in an apartment or government housing, do you have renter’s insurance?   While some government housing may come with limited renter’s coverage, it varies from installation to installation, and rarely covers the cost of even a fraction of your household goods.  The best bet is to find a separate renter’s policy which can cost under $20 per month.

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New Theme: Paying Off High-Cost Debt

Debt
Written by Katie Bryan · 09 July 2012

July 9, 2012

By This email address is being protected from spambots. You need JavaScript enabled to view it., America Saves communications manager

Over the next five weeks, the America Saves blog will feature articles and guest blogs on the topic of paying off high-interest debt. America Saves, along with our 52 local campaigns will be featuring information on how to reduce your debts and where to get help.

Borrowing more money than you can afford is costly in many ways. Americans spend well over $75 billion a year just on credit card interest and fees. That means that families who revolve credit card balances pay an average of $1,500 a year in interest and fees.

Too much debt isn’t just expensive. People with lots of debt often say they lack peace of mind. They worry constantly about paying off debts and making ends meet. The stress of these worries affects their family life, work performance, and other areas of their lives.

If you would like to join the conversation about paying off high-interest debt, download our latest resource packet. The resource packet contains:

  • A sample article
  • Social media content
  • Tools and resources

Download the Resource Packet

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Preparing for Retirement: Gender Differences in Approaches to Money

Written by Super User · 06 July 2012

6 July 2012
By Dylan Tansy
America Saves Intern

Growing up, everyone knew which parent you had to ask for certain things like new clothes or to spend the night at a friend’s house. For me, almost everything was up to my mom unless I wanted something expensive or a “boy thing” like a sling-shot, in which case I would ask my dad. These gender differences obviously vary from family to family, but some level of difference is almost universal. A recent FoxBusiness article discussed an Ameriprise Financial survey that explored these differences of how middle aged men and women differ in their approaches to financial conversations and giving financial help to other family members.

What seemed to be the largest takeaway point is that middle aged, or baby boomer men tend to be more optimistic about their financial futures and retirement than women. Suzanna de Baca, vice president of wealth strategies at Ameriprise Financial, attributed this to the fact that the surveyed men were more likely to have set aside money for retirement, and figured out the amount of money they would need for retirement. Men seem to generally have more of plan when it comes to retirement.Another contributing factor that she pointed out was that men were less likely to have taken time off from the workforce to stay at home with children, or provide care for aging parents. This increased average time in the workforce for men allowed them to save more money in many cases.

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Jumpstart Your Savings

Savings Tips
Written by Super User · 02 July 2012

Jumpstart Your Savings

by Lila Quintiliani, AFC®
Military Saves Assistant Coordinator

New research published by Bankrate.com last week showed that 58% of Americans don’t have three months of emergency savings while a full 28% of Americans have no savings whatsoever.  When times are tough and it’s hard to make ends meet, it’s difficult to see the benefits of saving, but the truth is, an emergency fund can be your lifeline, and the only thing between you and financial ruin.  I have seen people go in to perpetual credit card debt because they suddenly had to buy a set of tires.

At Military Saves, our mantra is to Start Small, Think Big, and that’s exactly the way you can approach building up your emergency fund, even if you’re living paycheck to paycheck.

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Back on Track

Written by Super User · 28 June 2012

Getting Back on Track

June 28, 2012
by Lila Quintiliani, AFC®
Assistant Coordinator, Military Saves

So, you went ahead and blew your diet.  Your coworker brought in a homemade chocolate cake this morning, and you decided to have just one piece and then couldn’t resist seconds.  So when you attend a birthday party later this afternoon, you might as well have that third piece of pizza, right?  After all, your diet is already wrecked, isn’t it?  WRONG!  Diets, which are very much like budgets, are tough to stick to; we all make mistakes, we all fall off the wagon, so to speak.  The key is that we need to learn to pick ourselves up, dust ourselves off and start all over again.

Here are some tips for getting back on track once you’ve gone on a spending binge.

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Tip of the Day

  • Written by Guest Blogger | March 21, 2014

    Having emergency #savings may be the most important way to stay afloat financially. 5 Tips on how to start one: http://ow.ly/rswS2

Saver Stories View all »

Naval Battalion's Effort Yields Team Success

Written by Super User | November 26, 2010

Construction Battalion Five, DETAIL CHINHAE would like to share our campaign success story with you!

Currently we have 23 members on our Det, (all of whom have registered with militarysaves) and out of them 16 are planning for retirement by saving and investing money in the Federal Thrift Savings Plan.

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Savers Pledge Leads to Savings Success

Written by Super User | October 13, 2011

My name is Rob and I am a Staff Sergeant in the Marine Corps Reserve. My financial success is a huge result of the Military Saves Campaign.

My journey began five years ago after marrying my wife, Lisa. We entered our marriage with no savings plan in sight, carrying debt and living in a tiny apartment. After seeing an advertisement for Military Saves, we decided to grab the reigns of our finances and implement a positive financial plan.

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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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