Military Saves Week 2009. After Action Report. Agenda. Welcome Introductions Initial post-Week Results (staff and around the room) Next steps in reporting and evaluation (Steve) Re-branding – presentation (time/date/location) Deployment Savings resource Youth. America Saves.
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After Action Report
The National Military Family Association
highlighted Military Saves in our feature article of The Voice and participated in the Financial Challenge Event at the Pentagon.
OUSD (Military Community and Family Policy)
12 March 09
Focus on Military Saves throughout the year: 1st Qtr: “Save and Invest” 2nd Qtr: “Military Youth” 3rd Qtr: “Debt Reduction” 4th Qtr: “Retirement”
Military Saves Campaign 2009
Points of Contacts
1560 Wilson Blvd, Suite 600
Arlington, VA 22202
- 3 long-term Combat Debt program at FE Warren
One of hundreds of events during Military Saves Week, Larry Winget talks to Sailors aboard USS PELELIU (LHA 5)
54% from 2008
Military Saves pledges decreased by 9% from 2008
by Mr. Jeff Halstead355th Force Support Squadron3/2/2009 - DAVIS-MONTHAN AIR FORCE BASE, Ariz. -- Mr. Sam Renick, a children's author, brought "Sammy Rabbit," a children's character he co-created, to visit Borman Elementary School and the D-M Child Development Center here Feb. 25, to teach young children about developing good money-saving habits during the Defense Department's Military Saves Week. "There are 30 lessons we seek to teach the children during the presentation, well beyond the simple lesson of savings," Mr. Renick said. Mr. Renick read to the kids about Sammy Rabbit, and then they engaged in interactive learning activities. "Even the adults learned something from each session," says Tracy Canter, Readiness Consultant at the Airman and Family Readiness Center. "We were fortunate to have this event available to our military community." The Sammy Rabbit presentations were only a small part of the many events held at D-M during MSW. The Airman and Family Readiness Center here also provided free oil changes after completion of a budget, held a Piggy Bank Pageant and Financial Tug of War at the Youth Center, conducted a special class called "Locomotive Finances," and concluded the week with "Financially Fit to Fight," an all day colloquium of 16 classes and guest speakers concerning personal finance. Mr. Renick's and Sammy Rabbit's visit to D-M was funded by the Air Force Aid Society.
At 54 Offices World-Wide NMCRS Partnered with :
Excellent participation most places.
High Command leadership is the key!!
Printed 100K+ pledge cards for customer statements
Pledge card attachment with Feb e-statements
25K pledge cars and distributed to all 59 AFB and AFBCA branches
Promoted week on both websites for 30 days
Waived min balance requirement on regular savings accounts opened during week for 12 mos: 221 opened
Offered savings opportunity for workout loan borrowers. Bank lends borrower an add’l $250 which is placed in a CD at current 12 mo market rate. Once load repaid, borrower has $250 CD plus interest: 325 CDs so far this year
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• Army - 9 Installations
• Navy - 8 Installations
• Air Force - 13 Installations
• Marine Corps - 1 Installation
54 Navy Marine Corps Relief Society Chapters
also received the Super Saving lesson.
• Financial Fairs
• Family Days with a focus on Finances
• Travis AFB used the video as a follow-up to Military Saves by offering Financial Peace University
Savings Lesson • Youth Curriculum
0845-1100, Wed 25 Mar, ICI, 1401 H St NW
Using deployment financial opportunities to boost savings
Making a budget is like deciding how to divide up the pie.
Deployment offers opportunities to make the pie larger.
Having more pie doesn’t mean you have to eat more pie.
Deployment offers allowances, tax breaks, incentives and special pay.
The Department of Defense currently has 70 types of special pays and allowances, depending on your deployment and duty status, branch of service, and duty station on the books
Find detailed information through your service financial office or online through myPay
Per diem while TDY
Minimize spending, maximize income and saving
The difference that $5-$10/day can make…
Over a week: $35-$70
Over a month: $140-$240
Over a year: $1820-$3640
Small saving can be the difference between 1 cup of designer coffee per day and an HDTV
Paid in cash
No debt and no interest payments
Family Separation Allowance
FSA is payable at $250.00 per month and accrues from the day of departure from the home station and ends the day prior to arrival at the home station, in addition to any per diem or other entitlements.
Use this cash for taxes, retirement, credit card and loan payments, college savings, home repairs, etc.
Also consider using it for something that the whole family will enjoy for years. Paying cash always saves you money over using credit!
Maybe you are considering a family vacation after your deployment ends…and nothing says family like Mickey Mouse!
4 passes for 4 days in Disney World cost $1076.
If you pay in cash with your Family Separation Allowance Savings, you pay $1076.
If you put this on a credit card and only pay the minimum, you will pay more than $2,600 over 14 years.
Going to be gone for 3 months? 6 months? a year?
Consider renting out your house or apartment for extra cash
Subletting allows you to cover your housing costs while you still collect BAH.
Create a rainy day fund
Cash has its advantages that credit and long-term accounts don’t offer
Short term savings can really save you from the unexpected
See you local credit union or military bank to learn more about:
Basic Savings Accounts
Certificates of Deposit
College Savings Accounts
IRAs and other retirement accounts
Get sound advice.
Online, check out saveandinvest.org for Money & Mobility, information specifically for military personnel and their families
See a Personal Financial Manager at you Installation or arrange a consultation with a Certified Financial Planner through Military OneSource.
E-6 salary after 6 years=$35,410
After 12 months in SDP savings = $3,809
Reward for saving = $358
Save the maximum = $10,000
After 12 months in SDP, savings = $11,038
Reward for saving = $1,038
TSP is a Federal Government-sponsored retirement savings and investment plan.
For more detailed information, visit http://www.tsp.gov
Reaches a large military audience in their homes
Utilizes the existing network of military personnel on Facebook to spread a message of financial readiness with fans of the page and with their peers
Updates from Military Saves can easily be sent to all fans. Updates are seen on a fan’s wall by their “friends”, generating great exposure
Disseminate information & resources
Encourage fans to explore www.militarysaves.org and take the "Saver Pledge”
Enable discussion and create a forum for support, encouragement and knowledge sharing among page fans.
The wall is the first page visitors see when arriving at Military Saves on Facebook.
The Wall features:
Tabs to navigate the page,
Fans Box: displays who and how many fans there are
The Wall itself: Status updates and comments from visitors are displayed here.
The wall also features:
A Military Saves Score Board
The Saver Pledge with link to www.MilitarySaves.org, and
A brief snippet from the Message tab
Message: A personal message from a noted authority in the field of personal finance. (IE. Beth Kobliner, Suze Orman, Dave Ramsey, etc.)
Discussion: Addressed on next slide
Resources: List of links to other useful and pertinent websites
Boxes: photos, videos, and events can be posted here
The discussion board is a center for sharing, learning, support and encouragement. Here, page visitors can post their triumphs, trials, concerns and questions.
Military Saves’ Page on Facebook will:
2 June - ue 2 Jun 09, Booz Allen Hamilton courtesy of ASMC rep