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Written by Super User · 18 September 2013

Last Minute Financial Aid Tips

Written by Super User · 11 June 2013

Last Minute Financial Aid Tips

June 13, 2013
by Jason
Founder, Frugal Dad

We publish a lot of information, and a lot of it has to do with financial aid. At this time of year when students and their parents may be in a panic trying to get their financial aid applications in before it’s too late, it can be hard to distill all the information you’re getting bombarded with from this and other sites. Inspired by an article Victor Luckerson recently published on “Time” magazine’s business site — “10 Tips for Getting the Most Out of College Financial Aid” — I decided that our readers could use a breakdown of some of the more useful financial aid tips, too.

Luckerson’s top tip is, and regular readers of this blog will know I agree wholeheartedly, to file early! The Free Application for Federal Student Aid (FAFSA) for the 2013-2014 academic year became available on January 1. Most colleges and universities require the FAFSA to be completed in order to determine financial aid eligibility. Some schools actually require students (and, thus, parents when applicable) to file their FAFSAs by mid-February. Even if you’ve missed that deadline, don’t NOT file.

Another reason to file early is to get your application in before financial aid funds run out. Many schools award funds on a first-come, first-serve basis until all earmarked aid funds are gone. Increasingly, students with need outpace available funds, and late filers lose out every year. It’s not just schools either. Some states, including Illinois, Kentucky, North Carolina, South Carolina, Tennessee, Vermont and Washington, also hand out aid until resources are depleted and then close the coffer doors. Students who are expecting aid in these states are advised to file their applications now, if they haven’t already.

I know that the FAFSA asks for tax information, but don’t wait until you file your taxes to file your FAFSA. Use information from last year, or just make your best estimate. You can always go back and amend your application online once your taxes are filed; but it is important to get your FAFSA in front of financial aid administrators as soon as possible.

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Picture Your Savings Goal

Written by Super User · 24 January 2013

Picture Your Savings Goal

People save more successfully when then have a goal in mind. That’s why we’ve created posters so you can put your savings goal into perspective and share it. You can be saving for something large like retirement or something smaller like an emergency fund. No matter what you’re saving for, saving is always important! What follows is a set of easy instructions to participate.

Here are the instructions:

  1. Download the Poster
  2. Write your savings goal
  3. Take a picture
  4. Post it to our Facebook wall (Facebook.com/MilitarySaves) and tweet us at @Militarysaves


It’s as simple as that!

Designation of Savings Excellence for Military Saves Week

Written by Super User · 04 February 2013

Military installations, organizations and financial institutions around the world do a lot to help service members and their families save money and assess their financial readiness during Military Saves Week (Feb. 26-March 3, 2018) and throughout the first quarter of the year.

That’s why we recognize installations, organizations and financial institutions that go above and beyond during Military Saves Week with our America Saves Designation of Savings Excellence for Military Saves Week.

This year, Military Saves is adding the new designation category for installations & military-affiliated organizations (including Financial Readiness Programs/Centers) and is especially interested in recognizing those that promote automatic savings, emergency savings and the new Blended Retirement System in innovative ways to service members and the military community.

The Designation of Savings Excellence is an organizational award and should be considered as representing the entire footprint of the organization. A selection committee comprised of industry and nonprofit leaders will meet in Spring 2018 to review applications and select the winners.

**This year, the designation application is a part of the America/Military Saves Week Reporting Survey. We simplified both with fewer and easier-to-answer questions. 

Applications for the America Saves Designation of Savings Excellence are due April 6.


>>Designees will be recognized in the following ways:

>>Criteria:

Organizations that apply for the designation will be evaluated on these five criteria:

  1. Signed up to participate in MSW and organized a MSW working group.
  2. Partnered with financial institutions and other organizations on/off post to promote MSW.
  3. Encouraged the Military Saves Week Pledge.
  4. Promoted MSW through a variety of events and mediums, including using the many resources found on MilitarySaves.org.
  5. Extra points will be given to installations/organizations that specifically promote automatic savings, emergency savings and/or the new Blended Retirement System in innovative ways.

>>How to apply:

Awards will be given based on the complete information provided through the America/Military Saves Week Reporting Survey/Designation of Savings Excellence Application, which will be available March 9-April 6, 2018.

COMPLETE THE REPORTING SURVEY/DESIGNATION APPLICATION

 

Earn Money to Save

Written by Super User · 23 August 2012

Here are just a few ideas on how to earn money to save-

  • Do odd jobs for family, neighbors, or friends
  • Start a dog walking or lawn mowing service
  • Baby and child care
  • Window washing
  • Car washing
  • Bike repair
  • Collecting cans or bottles
  • House painting
  • Part time job

Once you have earned some money, be sure to set aside a few dollars a week and put it into a savings account or into a piggy bank at home. As weeks go buy, watch your savings grow! Be sure to stick with your savings plan and only spend your savings on things you really want.

Tip of the Day

  • Written by Guest Blogger | April 18, 2014

    Don't fall prey to the #payday #loan trap! Read these tips for alternate options http://ow.ly/vTKTh

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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On the Right Track to Build Wealth

Written by Super User | April 16, 2013

My name is Robina Wahl, and I am a military wife and a veteran. Although I am fairly new to the Military Saves Campaign, the message to “Build Wealth, Not Debt” reassured me that my husband and I were on the right track and doing the right things.

I have always been pretty responsible when it comes to saving and living within my means, but I was not prepared for the unpredictable employment lifestyle of being a Reservist and military spouse.

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One That Almost Got Away

Written by Super User | November 26, 2010

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?

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