Military Saves Week kicks off Published Feb. 18, 2009 By Airman 1st Class Andrew Davis 375th Airlift Wing Public Affairs SCOTT AIR FORCE BASE, Ill. -- Walking into the BX there are many things to spend money on. Whether it be a necessity for everyday living or that brand new T.V., taking out a Star Card or credit card may be the quickest and easiest way for many to get these things, but is it the best way? Military Saves Week, a DoD wide program that starts Sunday, encourages Team Scott members to ask themselves this and other important questions through the program's "Build Wealth not Debt" campaign. According to Monica Stouffers, Airman and Family Readiness Center community readiness consultant, the goal of the campaign is to persuade military service and family members to reduce debt and save money resulting in personal financial readiness and positively impacting the nation's personal and household savings rates. There are many ways families and individual servicemembers can fall into debt and they are urged to recognize the signs before it's too late. "Often individuals get into debt by accepting too much credit, using it for the wrong purposes and being unable to make even the minimum monthly payment," said Mrs. Stouffers. "The cycle of using credit to pay for other credit is a red flag. Using credit to pay for consumables such as food and gasoline, because the budget is over-extended, would also be a concern. "Often times, individuals may meet their monthly obligations, however unforeseen circumstances can happen and they are forced to use credit because they do not have an emergency fund. Payments on that debt result in not being able to save for the next emergency, and so the cycle goes on and on," she added. As a consultant at the A&FRC, Mrs. Stouffers has had the opportunity to help many Team Scott members realize their financial goals through a variety of solutions to meet member's specific needs. "Some solutions include setting a reasonable spending plan, setting realistic goals and developing a debt-reduction plan," said Mrs. Stouffers. Some examples include finding simple ways to stay on track, such as an envelope spending plan or using financial software. Tracking spending by category each month will help stay on budget. A variety of events are scheduled around base to help Team Scott members and their families realize financial goals and save for the future. For more information or to register for these events, contact the A&FRC at 256-8668. Fri. - Couples money management seminar, 6-10 p.m. at the A&FRC. Mon. - Money Talk for Teens, 5-7 p.m. at the Youth Center. Money Personality Seminar, 11 a.m. to noon at the A&FRC Tues. - Dorm Dwellers Financial Outreach Night, 5-7 p.m. at the Belleville Hall cyber café Stories on money and savings, 10:30-11:30 a.m. at the Scott Library Wed. - Personal Finance 101, 1-4 p.m. at the A&FRC. Feb. 27 - Home Buying Seminar, 2 to 4 p.m. at the A&FRC.