Military Saves Blog

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

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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Tales from a Not-So-Extreme Couponer

Savings Tips Shopping
Written by Super User · 25 June 2012

Tales from a Not-So-Extreme Couponer

by Lila Quintiliani, AFC®
Military Saves Assistant Coordinator

Grocery AisleFeeling the pinch at the register lately?  It’s not your imagination – prices *are* going up.  The Consumer Price Index (which essentially measures the change over time in the cost of a basket full of goods) for food went up 2.9% over the last year.  Some items, such as meats, eggs and seafood went up a lot more than that – turkey went up 9.2%, eggs were up 9.5% and canned/shelf stable seafood went up a whopping 11.3%.  Since you can’t just stop buying groceries, the trick is to shop smarter and be more discriminating.

Here’s how I save when I shop for groceries.  I won’t be featured on any of the extreme couponing shows, but I do manage to keep our food bill within our budget.

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Positive Peer Pressure and the Envelopes in the Cupboard

Savings Tips
Written by Super User · 19 June 2012

Positive Peer Pressure and the Envelopes in the Cupboard: Adolescents Now Prioritizing Saving

By Andia Dinesen, AFC ®
Military Saves Coordinator

I started babysitting around the time I was 12 years old for the same reasons that most adolescents get jobs: to earn some money independently of the allowance my parents gave me and to become more adult. It wasn’t much money, mind you, about $2 per hour for a few times a week, but it was more money that I was used to seeing at that age. Thankfully I had someone looking out for me: my mom. Every night when I came home from babysitting, my mom made me put the money I had earned into envelopes.

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Tip of the Day

  • Written by Katie Bryan | November 28, 2013

    Set a goal, make a plan, #save automatically - pledge to save today!  http://ow.ly/ksLWb

Saver Stories View all »

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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One Sailor's Course to Financial Freedom

Written by Super User | November 26, 2010

We all know its not easy to get out of debt once you in over your head. But it can be done with the sound advice and support that the Military Saves program offers. I am a testament to that. I was a recently divorced, single mother. Like many people I had credit card debt, a car loan, bad credit, and a low income job that never seemed to be enough to put food on the table.

Then I decided I'd had enough of living paycheck to paycheck and worrying about money all the time.

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Money on the Side

Written by Super User | November 26, 2010

Camp Arifjan, Kuwait -- A colonel in the 1st Theater Sustainment Command has money on his mind.

Army Col. George Fields, the Chief of Intelligence, or G2, has been teaching a free "Managing Your Money" class here in his spare time. More than 400 students have attended his six week-long class to learn more about increasing their own finances.

"All I did was sit down and listen to a guy one day who showed me what he was doing" said the colonel as he explained how he became interested in what he calls, "becoming financially free."

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