Last modified Wed., February 21, 2007 - 04:31 PM
Originally created Thursday, February 22, 2007

Navy launches Military Saves Campaign

By Zona Lewis, Commander, Navy Installations Command Public Affairs

Commander, Navy Region Southeast (CNRSE) Rear Adm. Mark Boensel (center) signs a proclamation to kick off the 2007 Military Saves Week Campaign for the region. From left front, CNRSE Command Master Chief CNOCM(SW/AW) Richard Trimmer, Boensel and CNRSE Director for the Community Support Program Gus Terlaje. Back, from left, NS Mayport Personal Financial Manager (PFM) Kevin Ahnsen, NS Mayport Fleet and Family Support Center Director (FFSC) Hector Sepulveda, NAS Jax PFM Rufus Budrige, NAS Jax FFSC Director Carolyn McCorey, NSB Kings Bay PFM Felipe Gonzalez and NSB Kings Bay FFSC Director Sonia Smith. The campaign was created to influence Sailors and their families to set savings or debt reduction goals. Photo by MC2(SW/AW) Rebecca Kruck

Commander, Navy Installations Command's (CNIC) Fleet and Family Readiness Program (FFRP) is sponsoring the Navy-wide financial fitness campaign, Military Saves, this winter and throughout 2007. The program is designed to change savings behavior by educating service members and their families on how they can build wealth, not debt.

CNIC Military and Family Readiness Program Manager David DuBois, asks Sailors to think about the last time they have had a complete financial physical, and recommends that everyone start the new year with a financial check-up.

"We're stepping up our efforts to increase individual and family financial fitness by providing additional educational programs at our Fleet and Family Support Centers (FFSC), and by working directly with command financial specialists to provide information and personalized assistance in addressing unit financial readiness," said DuBois.

"We're increasing the number of accredited financial counselors in the Fleet and Family Support Centers available to provide one-on-one help in developing realistic and achievable financial plans," he added. "We're increasing the involvement of our partner agencies, on-base financial institutions, consumer awareness experts and nationwide industry leaders to help improve Sailors' financial fitness."

There exists a gap between setting a savings goal and knowing how to reach that goal. The Military Saves Campaign provides tools to service members and their families to bridge the gap and help them on their way to building personal wealth.

"It begins by reducing debt, eliminating high-interest credit, and increasing personal savings," continued DuBois. "You can see your net worth increase and begin your journey to financial freedom."

Building wealth starts with a commitment to save and setting reasonable, achievable goals. Whether the participant is saving to buy a home, a new car or get out of debt, they must first have a savings strategy and a game plan on how to achieve their financial goals.

"As part of CNIC's commitment to the fleet, fighter, and family, initiatives like Military Saves assists us in teaching and advising our Sailors and families to manage their finances," said Commander, Navy Installations Command Vice Adm. Robert Conway. "Education and personalized assistance enable families to make positive changes in their financial fitness. A Sailor that doesn't have to worry about financial affairs is a Sailor who is better able to support the Navy mission. Personal financial readiness is critical to unit readiness."

Over the coming year, the Military Saves Campaign will provide saving tips, strategies, awareness and initiatives through a variety of mediums that will provide Sailors and their families with savings tools to help them reach their goals.?Military Saves Week, Feb. 25 - March 4, is one of the initiatives sponsored by the Military Saves Campaign. The week-long event is a Combined Federal Campaign-style pledge drive that encourages Sailors and their families to make a commitment to take financial actions such as saving, investing or reducing debt.

During Military Saves Week the service member and/or family member makes a commitment to save and build their personal wealth by enrolling as a Military Saver and setting a savings goal for the year. Enroll at www.americasaves.org/national/military.asp. Commands Navy-wide are encouraged to hold special events during Military Saves Week by utilizing installation resources: FFSCs, banks and credit unions, Morale, Welfare and Recreation programs and services, senior enlisted advisors, exchange and commissary services, and spouse clubs.??The Military Saves Campaign was developed as part of a memorandum of understanding between the Department of Defense and the Consumer Federation of America (CFA) to bring America Saves, the parent program, to the military. CFA is a federation of consumer education, advocacy and cooperative organizations committed to advancing the consumer interest.

"Our troops and families deserve the very best chance to get ahead financially, and turning our collective attention to getting out of debt and saving money is crucial to offering that chance," said Sarah Shirley, director of the CFA Military Saves campaign. "When everybody - leadership, corporate partners, service members, children - does one positive financial action during Military Saves Week, it gets easier to make good choices in the future."