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Military Saves Campaign promotes healthy finances

  • Published
  • By Senior Airman Sarah Hall-Kirchner
  • 375th Air Mobility Wing Public Affairs
SCOTT AIR FORCE BASE, Ill. --  Military Saves Week, Feb. 23-28, is an annual opportunity for installations and organizations to promote good financial savings behavior and a chance for servicemembers and their families to assess their own saving status.

Lona Berndt, Airman and Family Readiness Center Community Readiness Consultant, is leading the campaign.

"The Military Saves Campaign is a social marketing campaign designed to change people's perceptions, attitudes, and habits surrounding their personal finances," said Berndt. "The campaign seeks to motivate, support, and encourage military families to save money, reduce debt, and build wealth."

Since 2007, the Department of Defense has issued an authorizing memo each year to kick off the campaign, which is designated as the last week in February.

The Military Saves Campaign slogan for 2015, "Set a Goal. Make a Plan. Save Automatically," encourages military members, families, retirees, civilians and contractors to make smart financial decisions.

"The research-based campaign uses the principles of behavioral economics and social marketing to change behavior," Berndt explained. "Do social marketing campaigns really work? I like to compare the MSC to 'The Great Smoke-Out.' Forty years ago you could smoke virtually anywhere, including hospitals and airplanes. Once the Surgeon General said that smoking is bad for us, a social marketing campaign designed to change people's perceptions surrounding smoking began. Now, in 2015, the number of smokers has drastically decreased, plus most organizations and businesses forbid smoking anywhere on the premises. So, yes, I think social marketing campaigns work, and work well."

The Military Saves Campaign encourages military members, families, and civilian employees to take the Military Saves Pledge each year. The pledge asks people to think about their finances and savings before an emergency hits: "I will help myself by saving money, reducing debt, and building wealth over time. I will help my family and my country by encouraging other Americans to build wealth, not debt."

During 2013, 29,307 people made the pledge during the Military Saves Campaign.

"No one can predict the future," said Berndt. "If we could, we would know precisely how much money we would need for the things that we want and need in the future. But because we can't do this, the need to save money for the future is vital."

Scott Air Force Base will offer events featuring the financial services provided on base throughout Military Saves Week:

Feb. 17, 12-1:30 p.m.: Millionaire Airman (AFRC)

Feb. 20, 11 a.m. to 1:30 p.m.: Finances and Foodie Friday (AFRC)

Feb. 25, 4-5:30 p.m.: Smart Money (Youth Center)

Feb. 26, 5-7:30 p.m.: Dorm Party - open to all dorm residents (Mascoutah Dorm)

Feb. 27, 8-11 a.m.: Walk-in for free credit score (AFRC)

Feb. 23-27, 8 a.m. to 4:30 p.m.: One-on-one financial appointments with a certified financial planner (by appointment only) (AFRC)

Teens can participate in the "CU 4 Reality Challenge." Each person will be assigned a "job" and a "monthly salary." The challenge to teens is to buy all of life's necessities within your assigned monthly budget. Pizza, soft drinks and door prizes provided. Space is limited to the first 50 participants. Must be 12-18 years old to participate.

For more Scott specific information or to RSVP contact the AFRC at 256-8668. For more information on the Military Saves Campaign, go to www.militarysaves.org.