GoVA is excited to highlight Military Saves this month. The organization has designated the week of
April 24-28 as “Military Saves Week 2023.” This campaign is “dedicated to helping service members, their families, veterans, caregivers, and the entire military community at large build financial confidence.”
WHAT IS MILITARY SAVES?
Military Saves is a program that “seeks to motivate, support, and encourage the entire military community to save money, reduce debt, and build wealth.” The program offers free services and information that advise military members and their families on building personal wealth by setting specific financial goals and reducing debt. These offerings cover everything from housing, investing, retirement, vacationing, education, and debt repayment, all in the hopes of moving military members and their families toward fiscal security.
Military Saves Week takes this idea and amplifies it with individual themes for each day that highlight five important areas of financial readiness. This year’s themes are: Saving Automatically, Saving for the Unexpected, Saving for Major Milestones, Paying Down Debt is Saving, and Saving At Any Age. Military members can sign up to create a simple plan and receive reminders, resources, and tips. Organizations that would like to participate can download a toolkit for digital resources.
FINANCIAL RESOURCES FOR MILITARY FAMILIES
Military Saves Week is more than just pledging to save money. It’s a time to commit yourself and your family to financial wellness. There are free resources available only for military families that will help you create a roadmap to establish financial goals. The Edge is a comprehensive financial resource center designed specifically for the military community and it’s 100% free to military only. When you register, you have access to personalized recommendations based on your unique goals, as well as helpful tools, related courses, webinars and more.
We encourage military families to use this month leading up to Military Saves Week to evaluate your financial situation and review, adjust or establish personal financial goals in each of these areas:
• Emergency Fund
• Investment Savings
• General Savings
• Major Purchase
• Debt Repayment
Saving for the future can be challenging for anyone, we hope this month will provide the focus and support to help service members get a head start on achieving their savings goals.