Station residents pledge to save during Military Saves Week

Photo By Cpl. Alissa Schuning | The information fair at Crossroads Mall aboard Marine Corps Air Station Iwakuni, Japan, provides a board where station residents can post their savings goals, Feb. 27, 2015. Since the launch of Military Saves Week in 2007, more than 180,000 individuals took the saver pledge or re-pledged.  

IWAKUNI, YAMAGUCHI, JAPAN

02.27.2015

Story by Lance Cpl. Carlos Cruz Jr.  

Marine Corps Air Station Iwakuni

MCAS IWAKUNI, Japan - The Navy-Marine Corps Relief Society, aboard Marine Corps Air Station Iwakuni, Japan, kicked off Military Saves Week, Feb. 23-28, 2015.

Military Saves Week is a component of the nonprofit organization America Saves and a partner in the Department Of Defense’s Financial Readiness Campaign and is celebrated annually on military installations.

“This is basically to promote savings amongst our military community and family members and to make sure people are assessing their savings goals at this time of year,” Deanna O’Neal, director of the Iwakuni NMCRS.

Since the launch of Military Saves Week in 2007, more than 180,000 individuals took the saver pledge or re-pledged.
Military Saves Week in 2014 saw the largest participation so far, including 494 installations, 80 financial institutions and 53 non-profits organizations.

“Military Saves is for everyone in the military community, young to old,” said O’Neal. “Saving starts at a young age. We need to teach our children to save so that they have the habits already instilled in them when they are adults because savings is
life-long.”

O’Neal began Military Saves Week at the Matthew C. Perry Elementary and High School aboard station asking all students to make a pledge.

“I wrote down that I want to save money for college, a good career and for more annual reserves and chapels to be built,” Bailey Powell, a 3rd grader at M.C. Perry Elementary School.

Powell said she’ll earn money doing chores and favors for her neighbors to begin her savings.

The NMCRS along with Marine Corps Community Services personnel, Navy Federal Credit Union and Community Bank gave a presentation about savings at the Teen Center, but the main event this year was the Information Fair at Crossroads Mall on Friday, Feb 27, 2015, according to O’Neal.

Col. Robert V. Boucher, commanding officer of MCAS Iwakuni, and Sgt. Maj. Keith Massi, sergeant major of MCAS Iwakuni, visited the information fair to encourage station residents to establish savings.
“Savings is very important and saving early is especially important for college and retirement,” said Boucher. “Making goals early really helps years later. So I strongly encourage people to look at their plan and their family situation and make financial plans.”

Boucher said his pledge is to increase his savings for his children’s college fund.

According to O’Neal, some ways to save are:

1. Setup your savings to be automatic because the less you have to think about saving, the easier it is.

2. Make a plan/goal for your savings because if you aren't saving for something in particular, it is very difficult to keep the money in savings.

3. Track your spending because before you can figure out where to cut costs and start saving, you need to know where your money is going.

4. Give yourself small rewards because in doing so you are more likely to keep up the savings plan you started.

5. Don't panic if you stop and mess up your plan.

Military Saves encourages all service members, their families and civilian employees to take the Military Saves pledge, and for organizations to promote savings year-round and during Military Saves Week according to militarysaves.org.

For more information about Military Saves Week or ways to save, visit militarysaves.org.

• Date Taken: 02.27.2015
• Date Posted: 03.04.2015 23:40
• Story ID: 155978
• Location: IWAKUNI, YAMAGUCHI, JP