Uncategorised

Military Saves Week 2018 Participating Organizations

Written by Katie Bryan · 07 October 2016

1st Advantage Federal Credit Union - Virginia
90 FSS/Airman & Family Readiness Center - Wyoming
105th Airlift Wing - New York
AFSC
Air Force FCU
Airman & Family Readiness Center - Florida
Airman & Family Readiness Center - Italy
Airman and Family Readiness Center - Malmstrom AFC - Montana
Airman & Family Readiness Center - Texas
America Saves
American Savings Education Council
American Southwest Credit Union - Airzona
AmeriCu Credit Union
Andrews Federal Credit Union
Arizona Department of Financial Institutions
Armed Forces Services Corporation
Army Reserve
Association of Financial Counseling and Planning Education (AFCPE)
Association of Military Banks of America (AMBA)
Bank of Ann Arbor - MI
Bank on DC - District of Columbia
Bank of Hawaii - Hawaii
Barksdale Federal Credit Union - Louisiana
Better Business Bureau
Better Business Bureau Foundation
Better Business Bureau Serving CT
Better Business Bureau of Western PA - Pennsylvania
Community Resource Federal Credit Union - New York
Connecticut Department of Banking - Connecticut
Better Business Bureau Serving San Diego, Orange, and Imperial County - California
Connecticut Saves Campaign - Connecticut
Consolidated Credit Solutions, Inc.
Consumer Federation of America
Costco Corp. - California
Credit Union National Association
CT State Library - Connecticut
Dover Federal Credit Union - Delaware
Federal Deposit Insurance Corporation (FDIC)
FINRA Investor Education Foundation
First Naional Bank at Darlington - Wisconsin
Fleet and Family Support Center - Georgia
Fleet and Family Support Center, NSA Annapolis - Maryland
Fleet and Family Support Center - Ventura County, California
FNB Community Bank - Oklahoma
FNB Community Bank - Texas
Fort Hood (Army Community Service, Financial Readiness Branch) – Texas
Fort Hood National Bank - Texas
Freedom Federal Credit Union - Maryland
Holloman A&FRC
Housing Options & Planning Enterprises, Inc. - Maryland
Idaho Department of Finance - Idaho
LaceyLangford.com
Lutheran Social Service of Minnesota
Marquette Bank - Illinois
MCB Quantico - Virginia
MCCS CATC Camp Fuji - Japan
MCCS/PFM, K-Bay Hawaii - Hawaii
MCCS/PFM, MCB Hawaii - Hawaii
MCCS - New Orleans - Louisiana
Military Family Advisory Network
Military Saves
Miller Financial Group
Mortgage Lenders of America, LLC
National Credit Union Administration (NCUA)
National Foundation for Credit Counseling (NFCC)
Naval Base Ventura County - California
Naval Station Rota - Spain
Naval Support Activity Philadelphia - Pennsylvania
Navy Marine Corps Relief Society, Sasebo - Japan
Nevada National Guard - Nevada
Ohio Tuition Trust Authority
Orlando Saves - Florida
Patterson State Bank - Louisiana
Pensacola State College - Florida
Piedmont Housing Alliance - Virginia
Pioneer Alternative Investment
Prosperity Connection - Missouri
SAC Federal Credit Union - Nebraska
Sandia Area Federal Credit Union
Sea West Coast Guard Federal Credit Union
SLC Navy Operational Support Center - Utah
United Way of the Piedmont - South Carolina
U.S. Securities and Exchange Commission
USAG Stuttgart Army Community Service Financial Readiness Program - Germany
Zeiders

Managing Debt & Credit

Written by Katie Bryan · 29 September 2016

 

Establish a solid credit reputation by managing debt and building wealth

Military Saves’ mission is to promote the importance of savings and to encourage servicemembers and their families to take financial action by taking the pledge. Over the next eight weeks, we will be focused on motivating servicemembers to establish a solid credit reputation by managing debt and building wealth.

This resource packet contains a message to our partners, sample article, social media posts, and resources designed to help you communicate with your audience about the importance of establishing a solid credit reputation. We encourage you to use this material to position your organization “on the front lines” of the savings message, to encourage individuals to take the Military Saves pledge, and to help our servicemembers. Let’s continue to work together to get the “managing debt and building wealth” message out to our servicemembers. Thank you for all you do!

In this Packet:

Sample Article

Social Media Content

Relevant Resources


Sample Article

For use in communications that directly reach your constituents. We encourage you to use its contents as a guest post for your blog, newsletter, e-mail communications or any other publication. Feel free to rewrite it as your own.

Five Ways to Raise Your Credit Score in Less Than a Year

By Maddie Daniels, Digital Communications Manager, America Saves

Having a low credit score (a score below the mid-600s) can cost you big time. Unfortunately, many underestimate the true cost of a low credit score, according to a new survey by Consumer Federation of America (CFA) and VantageScore.

A low credit score, compared to a high credit score (700), typically increases the cost of a 60-month, $20,000 auto loan by more than $5,000. The costs are even higher for a mortgage. Learn more about the credit score details you should know that could save you money.

And a low credit score impacts more than just interest rates. Many non-creditors use credit scores to decide service availability, things like if they will rent an apartment to you or how high your security deposit will be.

The good news is we’re here to help. If you have a low credit score, take comfort in knowing that you can raise your score from sub-prime to prime in less than nine months, excluding foreclosure or bankruptcy. These five tips can help you raise your credit score:

1. Pay bills on time

It is critically important to your credit score to make all loan payments on time, in full, every month.

2. Use only a small portion of the credit available to you

VantageScore recommends keeping outstanding charges at or below 30 percent of your available credit limit. So avoid maxing out, or even coming close to maxing out, credit cards or other revolving credit accounts even if you are making all of your payments on time.

3. Reduce your debt

Pay down your debt, rather than move it around from one account to another.

4. Limit your number of new accounts

Avoid opening multiple new accounts within a short period of time. If possible, avoid opening new accounts altogether when you are working on raising your credit score.

5. Check your credit report

Check your credit report for free at least once a year. It will help you gain a better understanding current credit and debt situation before obtaining a loan, and will highlight opportunities to improve your credit score.

You can access these reports for free at annualcreditreport.com, or by calling 877-322-8228, and should always do so before seeking a mortgage or car loan.

Looking for more information? Be sure to test your credit score knowledge at CFA and VantageScore’s creditscorequiz.org and learn more about credit score basics and details.


 

Military Saves, managed by the nonprofit Consumer Federation of America (CFA), seeks to motivate, encourage, and support servicemembers and military families to save money, reduce debt, and build wealth. Learn more at militarysaves.org.

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Social Media Content

Share the following messages with your Facebook & Twitter followers.

#SavingsTipTuesday  

  • Avoid the urge to splurge and other tips here:  http://bit.ly/2cWVrWh @MilitarySaves #SavingsTipTuesday @FINRAFoundation  
  • What is going on “behind the scenes” with your #credit score? Find out here: http://ow.ly/RzAwN @MilitarySaves #SavingsTipTuesday
  • A good credit score can save you thousands.  http://bit.ly/2cdCVZ2 #SavingsTipTuesday @MilitarySaves 
  • Do you have too much #debt? Take this assessment to find out: http://ow.ly/RsAsq #SavingsTipTuesday @MilitarySaves   
  • Plan your shopping and other tips to help you use your credit wisely.  http://bit.ly/2cufSW5 #SavingsTipTuesday @MilitarySaves
  • Need help saving?  Get text tips when you take the @MilitarySaves pledge. http://bit.ly/29V67Ug #SavingsTipTuesday    
  • Make saving automatic.  http://bit.ly/2cb8LBh #SavingsTipTuesday @MilitarySaves 
  • 9 Tips to Help You Pay off High Interest Debt http://bit.ly/2cYnMN9 #SavingsTipTuesday @MilitarySaves 

#SavingsFactFriday

  • Payment history makes up 35% of your credit score & is the most important factor in building good credit. @MilitarySaves #SavingsFactFriday 
  • #Financial freedom is living w/in your income-don't borrow more than you can repay. http://ow.ly/RzJEn @MilitarySaves #SavingsFactFriday
  • Only 20% of Americans know a low credit score increases their finance charges. http://bit.ly/2bQsoVr #SavingsFactFriday @MilitarySaves 
  • Your #creditscore will improve over time if you manage your #credit responsibly http://ow.ly/RzKGF @MilitarySaves #SavingsFactFriday
  • 45% of families with incomes under $50,000 rely on credit cards to pay for basic needs. #SavingsFactFriday @MilitarySaves  
  • Want to get out of debt?  Pledge to save with @MilitarySaves for motivation.  http://bit.ly/29V67Ug #SavingsFactFriday @MilitarySaves
  • Overcome your debt with a budget. http://bit.ly/2cICm9S #SavingsFactFriday @MilitarySaves
  • Paying debts on time is the largest factor in building good credit.  http://bit.ly/2chsgLR @MilitarySaves 

Additional Posts

  • Five financial tips to help you navigate your way out of debt.  http://bit.ly/2cWUopk @MilitarySaves @USAAEF  
  • Manage your #credit wisely! #Military receive a free #FICO #creditscore by taking the @MilitarySaves Pledge http://ow.ly/RssKU
  • #Debt will not go away if you continue adding to it. Learn how to stop borrowing & take control of your #money: http://ow.ly/RzAVU          
  • Manage credit and debt by paying debt on time.  http://bit.ly/2ccl5oa  @USAAEF @MilitarySaves
  • Get your credit and debt resources here: http://bit.ly/2c8dgBv @FINRAFoundation @MilitarySaves
  • Tip to stay out of debt: Avoid settlement/credit repair scams. More tips: http://ow.ly/nfgx2 via @FINRA @MilitarySaves  
  • Dispute errors to improve your credit score.  More tips: http://bit.ly/2cdbWxd @MilitarySaves 
  • The 5 pillars of credit. Number 1: Payment History.  Find out more: http://bit.ly/2crbsVA @MilitarySaves 

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Relevant Resources

Share the following tools and resources with your audience and with other organizations.

Military Saves Resources about Credit and Debt

Blogs: Managing Credit

Blogs: Managing Debt

Tools & Resources          

Word cloud of most significant concerns when transitioning from the military into the civilian workforce. "Finances" is the largest word.

Military Transitions

Written by · 25 July 2016

Word cloud of most significant concerns when transitioning from the military into the civilian workforce. "Finances" is the largest word.Military Saves’ mission is to promote the importance of savings and to encourage servicemembers and their families to take financial action. Over the next six weeks, our campaign will be focused on the big transition: leaving the military.

This resource packet contains a message to our partners, sample article, social media posts, and resources designed to help you communicate with your audience about the importance of making saving for transition a top priority. We encourage you to use this material to position your organization “on the front lines” of the savings message, to encourage individuals to take the Military Saves pledge, and to help our servicemembers transition without debt and with a healthy savings safety net.

As educators, counselors, coaches, non-profits and practitioners we’ve all seen the devastating impact that failing to adequately plan for transition can have on an individual and family. The data show that approximately one out of two (53 percent) separating Post-9/11 Veterans will face a period of unemployment. Let’s continue to work together to get the need to “save for transition” message out to servicemembers before they get out. Thank you for all you do for our servicemembers!

Download the partner packet in Word.

In this Packet:

Sample Article

Social Media Content

Relevant Resources


Sample Article

For use in communications that directly reach your constituents. We encourage you to use its contents as a guest post for your blog, newsletter, e-mail communications or any other publication. Feel free to rewrite it as your own.

DOWNLOAD SAMPLE ARTICLE IN WORD

 

A Military Transition “SMEAC“ Approach (5 Paragraph Field Order)

By Letty Stevens, AFC®

S: Situation

M: Mission

E: Execution

A: Administration and Logistics

C: Command and Signal

Situation: Transitioning out of the military needs to be well planned and executed. No matter your rank, occupational specialty or training, the process is not an easy one and it is not intuitive. You must have goals. One key goal is for you to be both financially and mentally prepared for the transition into civilian culture.

One of the biggest obstacles to your peace of mind during transition is debt. If you transition out of the military with credit card debt and/or an outstanding car or personal loan, you may have a potentially detrimental situation on your hands. Being in the military guarantees a consistent paycheck. In the civilian world, however, you are likely to change jobs frequently, and may find yourself unemployed from time-to-time. The sooner you pay off your debt and start saving, the better off you and your family will be during your transition, and into your civilian life.

Mission: The Military Saves mission makes savings and savings strategies a priority for servicemembers and their families. For those who are transitioning, this is a call to action!

Execution: We encourage you to take the savers pledge, sign up for biweekly text messages and begin to discuss saving with your family as a transition strategy today.

Administration: You are the sole administrator of your finances, but we encourage you to reach out to your resources. For those of you who are married this is a team effort. Logistics: Your spouse is transitioning with you, and having his/her additional income to get you through your transition needs to be discussed in the months and years leading up to your transition.

Command and Signal: Take command of your financial transition by making a plan to pay off your debt and start saving today!

  1. Start the process with an honest discussion. Just sit down and talk with your spouse, significant other, financial counselors or whoever you trust.
  2. Document your SMART transition goals, immediate and long term.
  3. Keep communicating and saving, with verbal and visible reminders. Text messaging is now available when you take the savers pledge.

This is your new financial life taking shape, and it all starts with a plan. When you plan to save and stick with your plan, it will result in your financial peace of mind today, during your transition, and into your civilian life.

Military Saves, managed by the nonprofit Consumer Federation of America (CFA), seeks to motivate, encourage, and support servicemembers and military families to save money, reduce debt, and build wealth. Learn more at militarysaves.org.

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Social Media Content

Share the following messages with your Facebook & Twitter followers.

DOWNLOAD SOCIAL MEDIA CONTENT IN WORD

 

DOWNLOAD SHARE IMAGES

 

#SavingsTipTuesday

Save for transition, sock away windfalls http://bit.ly/29VjxhL #SavingsTipTuesday @militarydotcom @MilitarySaves
 Tweet this now

TSP is effective way 2 save for #retirement automatically http://ow.ly/BfFtx @Military Saves #SavingsTipTuesday
 Tweet this now

6 transition tips no. 2 >> cut and save: http://bit.ly/2a6xzfe #SavingsTipTuesday @MilitarySaves
 Tweet this now

8 financial tips to ease the transition. No. 6: Build your emergency savings! http://bit.ly/29WbT6k #SavingsTipTuesday @marybstorj @MilitarySaves
 Tweet this now

5 financial tips. No. 3: Have an emergency fund ready. http://bit.ly/2anGIPL #SavingsTipTuesday @usnews @MilitarySaves
 Tweet this now

Save 3-4 months’ worth of living expenses 2 alleviate stress. http://bit.ly/29W1U1m #SavingsTipTuesday @NMSNetwork @MilitarySaves
 Tweet this now

# 1 Transition tip: Set aside a transition fund. http://bit.ly/2a6yAVQ  #SavingsTipTuesday #BetterMoneyHabits @MilitarySaves
 Tweet this now

#SavingsFactFriday

Financial preparedness for transition is key concern http://bit.ly/29VAJ6P @MilitarySaves @NMFA #SavingsFactFriday
 Tweet this now

76% active duty servicemembers have retirement accounts http://bit.ly/2a2WOxp #SavingsFactFriday @FINRAFoundation
 Tweet this now

Paying off a mortgage early can result in serious savings during #retirement http://ow.ly/BfKeu @MilitarySaves #SavingsFactFriday
 Tweet this now

44% of workers indicate they don't have a problem with their level of debt. http://bit.ly/2adRt8k @MilitarySaves #SavingsFactFriday
 Tweet this now

69% report that they or their spouse have saved money for retirement http://bit.ly/2aeBvLg @MilitarySaves #SavingsFactFriday
 Tweet this now

Additional Posts

Tools to help you successfully navigate your transition: http://bit.ly/2aq7U1m @FINRAFoundation @MilitarySaves
 Tweet this now

It’s a good idea to get your financial house in order before you separate. http://bit.ly/29VF5uK @MilitarySaves
 Tweet this now

Creating a workable budget and sticking to that budget is a great start. http://bit.ly/2a7AXUQ #FinanciallyResponsible @MilitarySaves
 Tweet this now

U need about 80% of your pre-retirement income 2 continue UR quality of life #Retirementtalk http://bit.ly/2a7Da2t @USAgov @MilitarySaves
 Tweet this now

The earlier you plan for transition, and the more you save toward it, the better your chances of having it work out as you planned. @MilitarySaves
 Tweet this now

A trusted, well-informed financial coach can increase your odds of financial success http://bit.ly/2aryaev @CFPBMilitary @MilitarySaves  
 Tweet this now

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Relevant Resources

Share the following tools and resources with your audience and with other organizations.

Military Saves Resources about Transition and Retirement

Research

Calculators/Tools

 Videos

 Websites

Additional Resources

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Join Our Team

Written by Madeline Daniels · 26 September 2016

There are currently no openings. 

 

Savers, Sign Up for Text Messages

Written by Katie Bryan · 23 February 2016

Step 1: Sign up for Military Saves goal based text message reminders to be eligible for the $500 monthly drawing from February 22, 2016 through May 22, 2016 to help you reach your saving goal. (See full rules here for drawing.)

How to enter to win the $500: 

I want receive text message saving tips and reminders.

I understand that standard carrier message and data rates MAY apply. I may receive up to 4 text messages and alerts per month from an automated system and that I can text STOP to cancel or text HELP for help at any time. Consent is not required to buy goods and services. Mobile Privacy Policy and T&Cs.

Phone Number with Area Code 
 

This is a win-win situation. From February 22, 2016 through May 22, 2016 one lucky person each month will win $500 to help them reach their savings goal – and everyone will win by staying motivated to save. Good Luck and Happy Saving! 

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 »

Setting a Goal Leads to Success

Written by Super User | May 24, 2019

Growing up, Marisa’s dad had always talked about saving first, but she said she didn’t really internalize it until much later. “I was drifting along with no plan, carrying a little bit of revolving debt, saving some money here and there, but without a real plan for it.”

Read more...

When You Start Small, Saving is Easy

When Attiyya first got married, she and her Marine husband had just graduated from college and were focused on paying off student loan debt. They had both attended private schools and had sizeable loans. Then three months after the wedding, the couple found out they were pregnant with their first child.

The first year of their marriage, says Attiyya, was a balancing act between paying down debt and saving for the future.

Read more...

How Smart Financial Decisions Can Create Opportunities 

Written by Stephen Ross, America Saves Program Coordinator | November 22, 2019

Of the many stories Military Saves shares, most describe how someone was in dire straits financially and worked their way out of it with the help of Military Saves. This time we want to highlight a different kind of story. This is a story about how responsible financial decisions can build on one another to create opportunities you thought only the super-rich enjoy.

Read more...