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.

Eckhardt credits his personal success to working with his wife and "building up good habits that we were able to stick with even after we got out of debt."

"I started from a pretty bad place," he said. "I was a young single guy in Vegas, and it was not a lifestyle where you were thinking about your long term future." He listed some things he now considers financial mistakes: leasing a brand new car when his old car was sufficient, spending too much money on nights out, and racking up over $5,000 in credit card debt.

But when he met his future wife and got engaged, Eckhardt and his fiancé began to prioritize getting out of debt and becoming financially stable. Their combined credit card debt was nearly $25,000, so they started out by getting rid of their credit cards and setting a budget. Eckhardt also shipped to Iraq shortly after his engagement, and the tax-free combat pay he received made it easier to make ends meet.

The couple saves money by "eating at home 90 percent of the time," he said. They also began tracking their spending and analyzing their budget together and would "celebrate if we paid off a credit card or reduced some debt significantly." He also credits his wife for being "very responsible" about sticking to the budget while he was overseas.

In Eckhardt’s role as the Military Saves representative for his Air Force squadron, he works to find appropriate investment vehicles for other troops, get more troops signed up for the Thrift Savings Plan (a retirement savings program for government employees and member of the military), and helps spread the message about the benefits of saving.

During Military Saves Week, Eckhardt planned a briefing and held individual follow-up conversations for almost everyone in his squadron. "The message I’ve been trying to get out is to eliminate debt, as much as possible," he said.

In talking with younger troops, Eckhardt recounts an experience he had in a cell phone store in Italy, where he is now stationed. As he was waiting in line, he listened to the young airman in front of him debate about whether he should get a new iPhone, even though he’d recently bought a new Blackberry and opportunities to use cell phones on base are limited.

"He was saying he would just blow his whole paycheck on a phone that he would barely use and had no need for," Eckhardt said. "So I would tell that story, about how foolish it seemed to me that they would not be looking for ways to save money – after all, I’m not all that old and I’m trying to look for ways save."

"It was such a mental relief for me to know I had no credit card debt."

Capt. Rob Eckhardt
Military Saver


We want to brag about you! If you have a story to tell about your organization's Military Saves activities, please contact us.

Tell us about:

  • How you got the campaign going in your unit or other organization
  • What you've done to involve children and other family members
  • How much money your members have saved since getting involved in Military Saves
  • Particular individuals and families whose lives have improved because of saving money, or
  • Whatever you're especially proud of and want the rest of the military community to know about!

Tip of the Day

  • The Thrift Savings Plan (TSP) offers the same types of savings and tax benefits that many private corporations offer their employees under 401(k) plans. Sign up or get more info at tsp.gov

Pledge to Save

I pledge to save money, reduce debt, and build wealth over time. I will encourage my family and friends to do the same

Pledge to Save

Saver Stories View all »

60 Teens participate in Massachusetts Youth Saves Program

During the months of June & July, 60 teenagers aged 13-19 from Marine, Coast Guard, Army, and Air Force families attended Youth Saves programs across the Commonwealth of Massachusetts to help increase their knowledge of financial literacy.

Read more...

One That Almost Got Away

Brody Lockwood - Like a typical fledgling, I started down the track of financial indebtedness. Nineteen years old and nothing to lose. Credit - who need it? Savings - that was for older people with responsibility. Debt - my parents were in debt ergo it must be OK. When I was eligible for reenlistment, I reenlisted for a multiple of 3 worth $15K. I was happy to pay off my debt, but would I be able to stay out of debt?

Read more...

Making Savings a Part of Marriage

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.

Read more...