Beale ready for Military $aves Campaign

  • Published
  • By Staff Sgt. Robert M. Trujillo
  • 9th Reconnaissance Wing Public Affairs
BEALE AIR FORCE BASE, Calif. --  Team Beale is poised to participate in Military Saves Week, Feb. 24 through March 1.
 
Military Saves is a national social marking campaign designed to persuade, encourage, and motivate service members and their families to take financial action in building wealth through saving money and reducing debt.

The Airmen and Family Readiness Center will be offering classes throughout the week on reducing debt and increasing savings, as well as classes on identifying phishing, frauds, and scams. Classes will also be offered at the Beale Youth Center to teach children the value of saving.

"The focus is to educate and inform our Airmen and their families on financial accountability," said Liz Kim, Airmen and Family Readiness Center accredited financial consultant. "Our hope is to show how putting a little money aside early will improve their financial posture later in life."

In its eighth year the campaign, is putting an emphasis on healthy savings habits with the slogan, "Start Small, Think Big," which captures the benefits of saving money each month.

"It's very important to start saving early," Kim said. "Over time the money adds up."

According to Kim getting started is often the hardest part, and this year's campaign is an opportunity to encourage military and civilian members to begin a life-long path of financial planning, saving and debt reduction.

Kim said that an Airman who starts saving at the age of 18 could save nearly $250,000 more than an Airman who started at the age of 25.

Airmen are also encouraged to set up an emergency savings fund, which translates to saving total expenses for three months.

"Having that emergency fund is a good safety net for life's unforeseen events," Kim said.

Military and civilian members can take a pledge to start saving for an emergency fund or make a personal savings goal at www.militarysaves.org or by contacting the Airmen and Family Readiness Center at 634-2863.

"I encourage Team Beale to set a savings or debt reduction goal or take another positive wealth-building action during this campaign," said Col. Phil Stewart, 9th Reconnaissance Wing commander. "Personal financial security is a crucial aspect of military readiness."