[ The Real McCoy Online Home ]                                                                                                                 February 13, 2009
Department of Defense News

Campaign encourages financial knowledge

Military and civilian personnel in the Fort McCoy community are encouraged to use the Military Saves Week from Feb. 22-March 1 to help get their financial affairs in order.

Military Saves is a social marketing campaign specifically targeted at military families to persuade, motivate and encourage them to save and stretch their money every month. 

Dr. David S.C. Chu, undersecretary of defense for personnel and readiness, noted in a posting on the Military Saves Web site that the financial readiness of Soldiers and their families equates to mission readiness.

The Web site http://www.militarysaves.org offers many good strategies to get out of debt and save money for the future, Chu said. It features a pledge form to save money and a monthly newsletter with advice about how to save money and reduce expenses.

"Saving regularly can eliminate the need for high-cost, short-term loans and ensure long-term financial security, particularly through such military savings programs as the Thrift Savings Plan (TSP) and the Savings Deposit Program," Chu said. The TSP is open to both authorized military and civilian personnel.

"Saving regularly can eliminate the need for high-cost, short-term loans and ensure long-term financial security ..."

Dr. David S.C. Chu,
Undersecretary of Defense for
Personnel and Readiness

Under the Savings Deposit Program, military members deployed in combat zones, qualified hazardous-duty areas, or certain contingency operations may deposit all or part of their unallotted pay into a Department of Defense savings account up to $10,000 during a single deployment.

The Military Saves Web site encourages personnel to become financially stable through saving, debt reduction and wealth-building over time.

Debt reduction, for example, can be accomplished by spending less money through budgeting and paying off loans or debt with high interest rates in a timely manner, such as credit cards.

Bryan Clarkin, Fort McCoy Army Community Service (ACS) Financial Readiness program manager, said he has access to a number of financial tools and information that he can share to help personnel in the Fort McCoy community.

Some of the topics he can cover are: savings, investments, insurance, debt management, credit reports, consumer rights and consumer advocacy.

"Personnel can make a one-on-one appointment with me to talk about their financial situations," Clarkin said "I will help them in any way I can to design financial programs that are compatible with their goals."

More information about financial resources in the Fort McCoy community is available at http://www.mccoymwr.com by clicking on ACS or ACS Schoolhouse.

For more information in the Fort McCoy community, interested personnel also can visit ACS, 2111 S. 8th Ave., or call 608-388-6812/3505.

(Editorís Note: Some information in this story is from the Military Saves Web site.)


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