Military Saves gets Sailors thinking about their future

Here we sit in the middle of February, and if you’re like most of us, our well-intended resolutions have faded like the money in our wallet seems to do.

The truth is we know resolutions are promises we make to ourselves with good intentions, but they seldom have the “staying” power. For the most part, we vow to make these alterations to our lifestyle in good faith, but we tend to not take them all too serious.

With that being said, now might be the time to make a pledge that we are very serious about — a pledge which won’t fade with time. Call it a promise to finally take ownership of our own financial destiny.

If you’re wearing a uniform, you have taken an oath to protect our freedom and our way of life. Thank you for your selfless and steadfast commitment to abide by that oath. Now, would you be willing to take another oath — an oath that will protect your own economic freedom while greatly increasing your chances of coping with future financial challenges?

With the “Military Saves” campaign in full effect, you have the perfect opportunity to make the pledge for a brighter tomorrow. In terms of saving and investing, there really is no time like the present to start making small modifications to our spending habits and putting our financial plan into effect. Your oath in the form of a Military Saves pledge can literally change your life.

Here are five quick tips to not only start the year off right but, more importantly, end the year with solid financial footing.

Make a practical and realistic spending plan. Your spending plan is the foundation to your financial decisions. To ensure success, it is vital that your plan is a realistic expectation of money allocation. Contact the Fleet and Family Support Center for free software that will guide you in this process.

Get into the habit of using cash. Cash turns money into a physical “thing” with physical limits. Giving a cashier a plastic card to swipe just doesn’t “pinch” as much as handing over numerous $20 bills.

Set financial goals. Actually write out and list financial goals with specific requirements. Establish short-term and long-term goals. Example: Pay down credit cards within the next 12 months. Or start a “529”college savings plan this year. Your budget should have actual achievement dates.

Reward yourself. Starvation budgets work about as well as starvation diets. Provide yourself some incentive when you meet your budget goals. You have to have some sense of inspiration other than simply reducing or removing the debt.

Participate in Military Saves Week. By filling out a pledge card, you will start receiving information on how to make better financial decisions. You do not commit any money in this campaign. What you will commit (to yourself) is your declaration of continued financial growth in the sense of broadening your financial literacy.

So, when you are out and about on the base and you see one of our many pledge boxes, take a moment to fill out a pledge card and drop it in.

In this time of increased uncertainty about the economy, stability in the military and a myriad of other concerns, it has never been more imperative to make sound financial decisions.

If you have a question about Military Saves or any of our financial programs, call your Naval Base Ventura County financial educators Jim Ramey at 982-3640 or Dan Savage at 989-8844.

— Jim Ramey is a Fleet and Family Support Center (FFSC) financial educator.