Team Dover celebrates Military Saves Week

  • Published
  • By Airman 1st Class Shen-Chia Chu
  • 436th AW Public Affairs
DOVER AIR FORCE BASE, Del. --  Dover Air Force Base is participating in the annual campaign, 'Military Saves,' from Feb. 21 - 28.

Military Saves was created by the Consumer Federation of America, a non-profit sponsor, and is part

of two larger campaigns - the Department of Defense Financial Readiness Campaign and the America Saves campaign.

"'Military Saves' is an excellence chance for Team Dover members to take a proactive approach regarding finances," said Jennifer Aubrey, 436th Force Support Squadron Airman and Family Readiness Center Community Readiness Consultant and Air Force Aid Officer, and main point of contact for the program at Dover. "This helps people realize that regarding finances you can 'Start Small, Think Big.'"

To show an example of how little savings add up, Ms. Aubrey said for a 20-year-old to become a millionaire at age 65, they would need to do is to start saving $500 a month, based on an eight percent return rate. If that same individual waited until 30 years of age to start saving, they would have to save just over $1,000 a month, based on an eight percent return rate.

"Money, time and interest all add up and the sooner you start saving, the more compound interest you'll make," said Ms. Aubrey.

Military Saves is a social marketing campaign to persuade, motivate, and encourage military families, leaders and organizations to be aggressive in promoting automatic savings to save money every month. The campaign is a network consisting of organizations and individuals helping and supporting military members and their loved ones build personal savings for immediate and long-term financial goals.

"To commit to exercising better financial habits, you and your family members have the opportunity to take a pledge to become a saver," said Airman 1st Class Rebecca Sobiech, 436th Comptroller Squadron Budget Analyst. "There are two ways to pledge - online at www.militarysaves.org, or fill out a pledge card and give it to your squadron point of contact."

Military Saves does not sell anything, but it will enroll members as Military Savers and send emails with valuable information in the form of newsletters and 'e-Wealth Coach' advice, she said.

Team Dover members have the opportunity to sign up for additional financial education classes during Military Saves Week.

"The more educated you are, the more you can make informed decisions," said Ms. Aubrey.

A personal financial counselor will be available for appointments until March 5. For information or to make an appointment, call 677-6930.