Military Saves Campaign ends Sunday at Scott Published Feb. 24, 2010 By Airman and Family Readiness Center 375th Air Mobility Wing SCOTT AIR FORCE BASE, Ill. -- Mention financial security, and most people's eyes glaze over. Talk about becoming wealthy, and suddenly people listen. That's what draws attention to the Military Saves Campaign, a Department of defense-wide financial readiness program that kicks off Military Saves Week which runs through Sunday. Military Saves is a national campaign to persuade, motivate, and encourage military families to save money every month, and to partner with installation and community organizations to promote automatic savings strategies. "Personal financial fitness helps to build a strong force. The Military Saves Campaign is one opportunity to highlight the significance and importance of financial readiness," said Lona Berndt, base Community Readiness Consultant at the Airman and Family Readiness Center. Help is free and available all year long. The A&FRC have classes and services available to assist everyone in all of the personal financial life cycle stages. "I say to people, 'You're very fortunate to work in an organization like the Air Force where people care about your success," Ms. Berndt said. The A&FRC trains all first-term Airmen on managing personal finances. It also offers individual counseling and training by appointment. "The road to riches starts with personal accountability and is paved with knowledge, and the Military Saves Campaign is one way that people can gain the necessary education to make good financial decisions for themselves and their family," said Ms. Berndt. "A lot of times, people just don't have the skills." The theme for this year's Military Saves Campaign is "Start Small. Think Big." Airmen can start by tracking spending habits in a small notepad for a month. Free spending trackers, along with investment calculators, personal spending plan guides and other resources are also available at the A&FRC. Tracking spending habits causes people to think, especially before using a credit card to pay for routine purchases, Ms. Berndt said. Next, outline a realistic spending plan. "Sometimes people hear the word 'budget,' or 'spending plan' and think, 'my life is not going to be fun,'" she said. "But if you establish a good spending plan, it takes into account those life expenses, but does it in a way you can afford." Once the spending plan is established, the next step is to create an emergency fund. Ideally, it should at least be three to six months worth of pay; but just $1,000 can avert a crisis, Ms. Berndt said. "Unfortunately things will come up, whether it's car repairs, problems with utilities, or something happens with your kids. Save up so you don't have that deck of cards crash." Lastly, write down specific goals. Long-term goal setting can make a young Airman rich. Ms. Berndt can provide investment guidance that, with proper planning and a clear understanding of their options, could steer an Airman toward significantly increasing their retirement funds. "We don't tell people where they should put their money, we provide a better understanding of basic investment vehicles," she said. Workshops at the A&FRC include "Individual Retirement Arrangements," today from noon to 1:30 p.m., "Stop Over Spending-SOS," Friday from 12:30-2 p.m., and "My Honey and My Money," Friday from 6-8 p.m. For a complete list of Military Saves/Youth Saves activities and workshops, or to make an individual appointment, call the A&FRC at 256-8668.