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Military Saves campaign helps service members plan for future

  • Published
  • By Airman 1st Class Dennis L. Sloan
  • Joint Base McGuire-Dix-Lakehurst Public Affairs
JOINT BASE MCGUIRE-DIX-LAKEHURST, N.J. --  Col. John Wood, Joint Base McGuire-Dix-Lakehurst commander, kicked off the Military Saves Week campaign with a proclamation signing Jan. 27.

Military Saves is a national campaign geared toward motivating and encouraging military families to save money monthly; and convincing leaders and organizations to promote automatic savings programs.

"Military Saves Week is a great time to look at your finances," said Betsy Vicari, 87th Warfighter and Family Readiness Center community readiness consultant. "Whether you need to pay down debt, build savings or review your portfolio, everyone needs to have a solid financial foundation."

All military installations implement military saves through educational programs and events during an annual Military Saves Week campaign emphasizing the importance of creating and maintaining a savings plan.

This year's campaign is held Feb. 19 through 26 but money-saving classes start as early as Feb. 3 and run through April 6.

Holly Petraeus, Consumer Financial Protection Bureau assistant director for the Office of Servicemember Affairs and wife of retired Gen. David Petraeus and current CIA director, will visit the base at 9:30 a.m. Feb. 22 at the Timmermann Center. Petraeus will address the joint base community about the role of the Consumer Financial Protection Bureau, the resources they offer and how they are helping servicemembers build a savings plan. She will also inform community members of methods to prevent becoming a victim of scams and rip-offs.

Savings Deposit Program is another topic stressed during Military Saves Week campaign. The program is available to all service members and is free of charge.

"The Savings Deposit Program provides a way for service members to build their savings account with a high-interest return while deployed," said Senior Airman James Myers, 87th Comptroller Squadron customer operations lead technician. "They can place the extra entitlements they earn while being deployed in the SDP account and it will allow them to make even more money with building interest."

Service members can deposit all or part of their unallotted pay up to $10,000 per deployment, earn a higher interest rate on their money, from the deployed location. Members can cease participation at any time without incurring a penalty.

Call 754-3154 for more information on SDP or Military Saves Week campaign events such as the following:

JB MDL Military Saves Week campaign events are:
· Teens and Money from 6 to 7:30 p.m. Feb. 3 at the Dix Teen Center located at 1279 locust St.
· College Financing 101 from 1 to 3 p.m. Feb. 7 at Tommy B's Community Activities Center located at 2705 East Arnold Ave.
· Bundles for Babies from 9 to 11 a.m. Feb. 16 at the Warfighter and Family Readiness Center located at 3011 Tuskegee Ave.
· New Jersey Housing and Mortgage Finance Agency from 1 to 3 p.m. Feb. 16 at the WFRC located at 3011 Tuskegee Ave.
· Teens and Money from 6 to 7:30 p.m. Feb. 17 at the Dix Teen Center located at 1279 locust St.
· Finding Money to Invest from 9:30 a.m. to noon Feb. 28 at the JB MDL Education Center located at 3829 Schoolhouse Road.
· Couponing Basics from 1 to 3 p.m. March 2 at the WFRC located at 3011 Tuskegee Ave.
· First Things First: Preparing to Invest from 9:30 a.m. to noon March 6 at the JB MDL Education Center located at 3829 Schoolhouse Road.
· Couples Financial Workshop from 9 a.m. to noon March 10 at the WFRC located at 3011 Tuskegee Ave.
· 3rd Class in the Financial Literacy Workshops from 9:30 a.m. to noon March 6 at the JB MDL Education Center located at 3829 Schoolhouse Road.
· Ditch the Dorm from 1 to 3 p.m. March 14 at the WFRC located at 3011 Tuskegee Ave.
· What You Absolutely Need to Know about Investing from 9:30 a.m. to noon March 20 at the JB MDL Education Center located at 3829 Schoolhouse Road.
· Selecting and Monitoring Your Investments from 9:30 a.m. to noon March 27 at the JB MDL Education Center located at 3829 Schoolhouse Road.
· Investing for College Retirement from 9:30 a.m. to noon April 3 at the JB MDL Education Center located at 3829 Schoolhouse Road.