What is Military Saves?

Military Saves, a component of America Saves, and a participant in the Department of Defense Financial Readiness Network seeks to motivate, support, and encourage the entire military community to save money, reduce debt, and build wealth.

The research-based Military Saves program, coordinated by the non-profit Consumer Federation of America (CFA), uses the principles of behavioral economics and social marketing to change savings behavior and motivate action.

Military Saves encourages the entire military community to take the Military Saves pledge and for organizations to promote savings year-round, and especially during Military Saves Month in April.

Military Saves also works with government agencies, defense credit unions, military banks, and other non-profit organizations to promote savings and debt reduction.

Through our parent organization, the nonprofit Consumer Federation of America, Military Saves is a proud participant in the DoD’s Financial Readiness Network.

The Network was established to enhance the financial health of the Force using all available resources. The financial well-being of service members and their families is recognized as being an essential component of mission readiness.

The Network provides a collaborative venue for Federal departments and agencies, as well as non-profit entities, to support the financial readiness of the military community.

View Military Saves’ Statement of Support and more on the Department of Defense Financial Readiness Network and the Office of Financial Readiness.

Military Saves is honored to be a partner in the Military Spouse Employment Partnership

Donors

Military Saves' researched-based work to improve the saving behavior of service members, their families, and veterans is supported by the generous contributions of: 

  • Wells Fargo Foundation 
  • Pentagon Federal Credit Union
  • USAA

    USAA Logo PNG Transparent - PngPix

 

Partner Resource Packets

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Saver Stories View all »

Building a Six-Figure Savings While Enjoying Life

Does the idea of saving up hundreds of thousands of dollars seem impossible? How about doing it while still living an enjoyable lifestyle?

For military spouse Martina and her husband, an E-5 in the Navy, accumulating a six-figure savings has become a reality. One might think that in order to save this much, it would take a great deal of sacrificing and forgoing a certain quality of life, but Martina and her husband would disagree. “Over the past few years (about five), we've managed to save almost $120,000 while mostly living on one income. We've learned so much about easy ways to save money and live a good life,” shares Martina.

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Living the Dream: This Military Couple Retired Early

“Continuous dedication to financial peace pays off,” shares military couple, Denise and Jim. They would know, because at ages 52 and 53, they are already retired. The couple enjoyed life as an Army family for 32 and a half years and started planning for retirement decades ago. Denise shares, “We are not working a paid job, but are volunteering and meeting some personal fitness goals and enjoying some time together after many years spent geographically apart. It can be done!”

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From Shopaholic to Saver

Many of us spend too much money on things we don’t need, but we don’t always know why. It’s easy to get a quick fix from retail therapy, but before we know it, our hard-earned money is gone. Oftentimes, when we engage in a “shopaholic” lifestyle or sporadic shopping sprees, we still experience feelings of emptiness, but to make it worse, we now have debt, too.

Khanmany was a shopaholic who turned everything around. She is active duty Navy and shares, “I was spending too much on things I didn't need. I was going shopping for no reason and was trying to fill a void. I was running up every credit card I owned to include Victoria's Secret, Military Star, Navy Federal, TJ Maxx, JCPenney, Macy's, USAA, and was only paying the minimum payments.”

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