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NDW Commemorates 40 Years of Fleet and Family Support Program
NDW Participates in HURREX/Citadel Gale 2019
NDW Kicks Off 2019 NMCRS Active-Duty Fund Drive
Naval Support Activity Annapolis Conducts Active Shooter Exercise
Naval Support Activity Washington Prepares for Citadel Shield-Solid Curtain 2019
NSA Annapolis Prepares for Citadel Shield-Solid Curtain 2019
NDW Prepares for Citadel Shield-Solid Curtain 2019
Ceremonial Guardsmen Support Funeral Services for President George H.W. Bush
NDW Kicks Off NMCRS Active-Duty Fund Drive
NDW Concludes Citadel Shield-Solid Curtain 2018
NSA Annapolis Prepares for Exercise Citadel Shield-Solid Curtain 2018
Naval District Washington Prepares for Exercise Citadel Shield-Solid Curtain 2018
NDW Personnel Get Ready to Give for International Volunteer Day
Naval District Washington Hosts ROC OPS Training
NDW Kicks Off Cybersecurity Awareness Campaign
NDW Announces Regional Community Service Program of the Year Winners
NDW Hosts 2017 Mrs. Sybil Stockdale Ombudsman of the Year Awards
NDW Hosts 3rd Annual Gold Star Mother's and Family Day Observance
Washington Navy Yard Hosts 4th Annual Remembrance Run/Walk
Naval District Washington Hosts First DSCA Table Top Exercise
NDW Sailors Prepare for September Advancement Exams
CNO, MCPON Work Out with Navy Capital Region Chiefs and Chief Selects
Naval District Washington Launches Suspicious Activity Reporting App Eagle Eyes Navy
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One NDW Sailor Selected for Advancement to Chief Petty Officer
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2017 Feds Feed Families Campaign in Full Swing
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NDW Kicks Off Annual NMCRS Fund Drive
NDW Prepares for Solid Curtain Citadel Shield 2017
NDW Holds Change of Command
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US Attorney Recognizes NDW Officers for Actions During Navy Yard Shooting
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Voting Assistance Service Ensures Sailors Stay Registered to Vote at NDW
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NSA Annapolis Water Treatment Plant Fully Operational
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NDW Commemorates Pearl Harbor with Wreath Laying Ceremony
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Naval District Washington Announces 2015 "Energy Biggest Loser" Competition
NDW Kicks Off Energy Action Month
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NCR begins Navy-Marine Corps Relief Society Annual Fund Drive
Ex-USS Barry To Be Removed From Washington, DC
NDW Starts Saving with Military Saves Week
NDW to Offer Motorcycle Safety Courses
NSA Annapolis Conducts Active Shooter Exercise
Navy Celebrates African-American/Black History Month
Volunteer Tax Assistance Now Open for Free Income Tax Assistance
NDW 2015 Vision
Naval District Washington Announces 74th Anniversary of the Battle of Midway Celebration

NDW Ready to Kick Off Military Saves Week

160121-N-ZA795-002 WASHINGTON (Jan. 21, 2016) Rear Adm. Yancy Lindsey, commandant of Naval District Washington, signs the proclamation for Military Saves Week 2016. Military Saves is a research-based social marketing campaign to motivate, support, and encourage military families to save money and build wealth. Military Saves Week 2016 is from February 22-27, which coincides with America Saves Week. (U.S. Navy photo by Mass Communication Specialist 1st Class Pedro A. Rodriguez/Released)


By Mass Communication Specialist 1st Class Pedro A. Rodriguez, Naval District Washington

WASHINGTON (NNS) -- Naval District Washington will join military installations and organizations worldwide in educating service members and military families on the benefits of saving money during the 2016 Military Saves Week Campaign, Feb. 22-27.

Military Saves Week is an annual opportunity for installations and organizations to promote good savings behavior and a chance for service members and their families to assess their own saving status. Typically hundreds of organizations participate in the Week, reaching millions of people.

"While not considered important to service by some, financial instability can have a great impact on the lives of service members and mission readiness," said Paul Grossman, regional work and family life/education services coordinator.

Financial instability can have a negative impact on the lives of service members and mission readiness. In addition to the stress, poor finances can cause on an individual's personal life, it can affect them professionally as well. Poor credit or high debt can lead to loss of security clearances, which affects overall mission readiness.

Statistics show that there has been an improvement in the general population. According to a 2014 Consumer Federation of America and the American Savings Education Council Annual Savings Survey, Americans who report saving at least five percent of their income increased from 47 percent to 52 percent. Nearly 1,700 organizations participate in the 9th Annual America Saves Week.

Among the services, 60 percent of post-9/11 military families say that they feel secure about their financial future, and 14 percent of active duty does not regularly contribute to a retirement account according to the 2015 Blue Star Families Military Family Lifestyle Report.

Military Saves Week aims to curb those rising numbers by educating service members about how to take control of their finances and plan for their futures. Service members can visit www.militarysaves.org to make a pledge to save, and are encouraged to attend training provided by the Personal Financial Educators at Fleet/Military and Family Support Centers. Throughout the week, Personal Financial Educators will offer various workshops and one-on-one consultations on multiple financial topics. These sessions will assist in debt reduction, investing, credit management, thrift savings plan, retirement planning, and saving for college.

"The most successful part of Military Saves Week has been the partnerships established between the personal financial educators, commands, and community organizations to deliver workshops, display informational tables, and conduct one-on-one consultations has increased money management awareness and resiliency for Service members and their families," said Grossman "

Since its inception in 2007, more than 200,000 service members and their families have taken the Military Saves pledge. According to the Military Saves 2015 report the last Military Saves Week was a "record-breaking year."

"In 2015, Military Saves Week had the largest participation to date, with 600 organizations signed up or reported participating," said Grossman. "Those organizations included 399 installations, commands, and detachments, 113 financial institutions - and 110 non-profit organizations. Military Saves reports pledges reached a record-breaking last year of 33,086 pledges across all services."

Grossman extended an invitation to those who have started taking care of their financial readiness to continue to do so, and for those who haven't started to members to take the pledge.

"I invite every service member, their families, and civilian employees to take the Military Saves Pledge and to 'Set a Goal. Make a Plan. Save automatically,'" said Grossman. "The pledge is a commitment to exercise good financial habits, improve financial readiness, and encourage other Americans to do the same."

For more information about Military Saves Week, visit www.militarysaves.org, or contact a local Fleet/Military and Family Support Center.

For more news from Naval District Washington, visit www.navy.mil/local/ndw/.



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