R 071804Z JAN 11
ALCOAST 008/11
COMDTNOTE 1740
SUBJ: MILITARYSAVES 2011 CAMPAIGN
1. MILITARYSAVES IS A SOCIAL MARKETING CAMPAIGN TO PERSUADE,
MOTIVATE, AND ENCOURAGE MILITARY PERSONNEL AND THEIR FAMILIES TO SAVE
MONEY EVERY MONTH, AND TO CONVINCE LEADERS AND ORGANIZATIONS TO BE
AGGRESSIVE IN PROMOTING AUTOMATIC SAVINGS. IT WAS WAS DEVELOPED AND
TESTED BY ITS NON-PROFIT SPONSOR, CONSUMER FEDERATION OF AMERICA, AND
DOD, FROM 2003 TO 2006 AND LAUNCHED THROUGHOUT DOD IN 2007. WHILE IT
IS AN ONGOING CAMPAIGN, THE MILITARY COMMUNITY FOCUSES ON FINANCIAL
READINESS DURING MILITARY SAVES WEEK. FOR 2011 THAT WEEK IS 20-27
FEBRUARY. WE ENCOURAGE ALL COAST GUARD (CG) COMMANDS AND CG PERSONNEL
TO PARTICIPATE IN THIS CAMPAIGN.
2. AS A FIRST STEP, GO TO WWW.MILITARYSAVES.ORG AND TAKE THE PLEDGE
TO SAVE REGULARLY. THIS SEEMINGLY SIMPLE GESTURE CAN HAVE A POWERFUL
IMPACT IN SOLIDIFYING YOUR BEST INTENTIONS TO PREPARE FOR YOUR
FUTURE.
3. SINCE POOR FINANCIAL READINESS AFFECTS MISSION EXECUTION, IT IS
ALSO A COMMAND ISSUE. ESPECIALLY IMPORTANT WITH THE ECONOMIC
CHALLENGES OF TODAY, A SOUND SAVINGS INITIATIVE IS CRITICAL TO
HELPING OUR SHIPMATES ACHIEVE FINANCIAL FITNESS. MILITARY SAVES WEEK
PRESENTS AN EXCELLENT OPPORTUNITY TO ENCOURAGE, MOTIVATE, AND EDUCATE
ALL PERSONNEL TO INCREASE PERSONAL SAVINGS, DECREASE DEBT, AND
DEVELOP FINANCIAL FITNESS HABITS THAT LEAD TO IMPROVED PERSONAL
FINANCIAL STABILITY AND ULTIMATELY TO MISSION READINESS.
4. COMMANDING OFFICERS AND LEADERS AT ALL LEVELS CAN ALSO SUPPORT
THEIR PERSONNEL AND THEIR FAMILIES BY FOSTERING A CULTURE THAT
ENCOURAGES ALL TO SAVE, BUILD WEALTH, AND AVOID THE DOWNWARD SPIRAL
OF DEBT WHICH CAUSES FINANCIAL DISTRESS. DELIBERATE ACTIONS BY
COMMANDS CAN HELP CREATE AN ATMOSPHERE WHERE SHIPMATES ARE
COMFORTABLE DISCUSSING FINANCIAL ISSUES EARLY WITH THEIR CHAIN OF
COMMAND. THIS WILL ALSO INCREASE THE LIKELIHOOD THAT THEY WILL BE
MORE WILLING TO SEEK REFERRAL TO AN APPROPRIATE RESOURCE FOR
ASSISTANCE.
5. YOUNGER PEOPLE OFTEN SAY THEY JUST DO NOT MAKE ENOUGH MONEY TO
SAVE MONEY RIGHT NOW. THE REALITY IS THAT SAVING MONEY TODAY WILL
HAVE THE GREATEST EFFECT ON YOUR NET WORTH IN THE FUTURE. TIME, NOT
MONEY IS YOUR GREATEST ASSET. EVEN SMALL AMOUNTS OF MONEY SAVED
PERIODICALLY OVER TIME STARTING NOW WILL PRODUCE VAST AMOUNTS OF
MONEY FOR YOU IN THE FUTURE. THE REASON FOR THIS IS COMPOUND
INTEREST, WHERE MONEY IS EARNED ON THE PRINCIPAL AND THE INTEREST
THAT WAS PREVIOUSLY EARNED. THIS WILL ALLOW YOUR MONEY TO DOUBLE OR
TRIPLE OVER TIME. FOR EXAMPLE, SEAMAN HARDCHARGER PUTS AWAY 2000
DOLLARS A YEAR STARTING AT AGE 22. SEAMAN LAIDBACK DECIDES TO WAIT
SIX YEARS BEFORE HE STARTS SAVING. HARDCHARGER STOPS HIS SAVINGS
AFTER 6 YEARS AND HAS SAVED A TOTAL OF 12,000 DOLLARS WHILE LAIDBACK
IS JUST GETTING STARTED. BOTH WIND UP WITH THE SAME AMOUNT AT AGE 65,
ABOUT 1,235,350 DOLLARS. EACH OF THEM EARNED 12 PERCENT BUT LAIDBACK
HAD TO SAVE 74,000 DOLLARS INSTEAD OF THE 12,000 DOLLARS HARDCHARGER
SAVED. THE KEY POINT HERE IS THAT IT IS IMPORTANT TO START SAVING
EARLY INSTEAD OF WAITING. YOU CAN DO THIS BY OPENING A THRIFT SAVINGS
PLAN (TSP) ACCOUNT RIGHT NOW AND START SAVING 5 OR 10 PERCENT. IF YOU
ALREADY HAVE AN ACCOUNT, CONSIDER RAISING THE CONTRIBUTION.
6. USEFUL RESOURCES RELATED TO MILITARYSAVES 2011, EDUCATION ON
SAVINGS, AND DEBT MANAGMENT INCLUDE:
A. MILITARYSAVES - WWW.MILITARYSAVES.ORG. IN ADDITION TO PROVIDING
AN OPPORTUNITY TO TAKE THE SAVINGS PLEDGE, THIS SITE PROVIDES
INFORMATION ON HOW TO SAVE ON AUTO PURCHASES, SAVE FOR EMERGENCIES,
SAVE FOR A HOME, GET OUT OF DEBT, AND MANAGE SAVINGS AND INVESTMENTS.
IT ALSO PROVIDES AN ONLINE TOOLKIT TO HELP MILITARY UNITS PROMOTE
MILITARYSAVE 2011. THIS TOOLKIT INCLUDES POSTERS, FLYERS, PUBLIC
SERVICE ANNOUNCEMENTS, CHECKLISTS, GRAPHICS, AND A SAMPLE OPLAN FOR A
MILITARYSAVES CAMPAIGN (SAVER DRIVE).
B. TSP - WWW.USCG.MIL/PPC/TSP.ASP(NUMBER SIGN)LIMITS. PROVIDES
INFORMATION AND RELATED LINKS FOR INITIATING AND UPDATING TSPS. TO
SPECIFY THE WAY YOU WANT YOUR CONTRIBUTIONS TO BE INVESTED, USE THE
TSP WEB SITE HTTP://WWW.TSP.GOV/INDEX.HTML OR THE THRIFTLINE AT
504-255-8777.
C. COAST GUARD WORK-LIFE - WWW.USCG.MIL/WORKLIFE/FINANCIAL.ASP.
PROVIDES LINKS TO MANY FINANCIAL TOOLS AND RELATED RESOURCES.
D. WORKLIFE4YOU - WWW.WORKLIFE4YOU.COM OR 800-222-0364. PROVIDES
ALL CG EMPLOYEES AND THEIR FAMILIES INFORMATION AND REFERRAL SERVICES
TAILORED TO INDIVIDUAL NEEDS. IT IS ALSO A GOOD SOURCE FOR
INFORMATION RELATED TO EDUCATIONAL LOANS, GRANTS, AND SCHOLARSHIPS.
USE "USCG" (SMALL CASE) FOR BOTH USER NAME AND PASSWORD.
E. FEEDTHEPIG.ORG - HTTP://WWW.FEEDTHEPIG.ORG. SPONSORED BY THE
AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS AND THE
ADVERTISING COUNCIL, THE GOAL OF THIS SITE IS TO ENCOURAGE AMERICANS
TO TAKE CONTROL OF THEIR PERSONAL FINANCES. THIS SITE PROVIDES USEFUL
INFORMATION IN A HUMOROUS WAY. INCLUDES SAVINGS TIPS, DISCUSSION
FORUMS, EDUCATIONAL GAMES, AND OTHER USEFUL AND EDUCATIONAL TOOLS.
F. SAVEANDINVEST.ORG - WWW.SAVEANDINVEST.ORG. THIS SITE IS A GOOD
SOURCE FOR OBJECTIVE ANSWERS AND UNBIASED INVESTING RESOURCES. IT
INCLUDES USEFUL TOOLS AND STRAIGHT-TALKING FINANCIAL ADVICE. THIS IS
A FREE SERVICE OF THE FINANCIAL INDUSTRY REGULATORY AUTHORITY
INVESTOR EDUCATION FOUNDATION AND WAS DESIGNED WITH MILITARY MEMBERS
IN MIND.
G. FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) -
WWW.FDIC.GOV/INDEX.HTML. FDIC IS AN INDEPENDENT AGENCY OF THE FEDERAL
GOVERNMENT WHOSE MISSION IS TO PRESERVE AND PROMOTE PUBLIC CONFIDENCE
IN THE U.S. FINANCIAL SYSTEM. THEIR WEBSITE PROVIDES A WEALTH OF
CONSUMER INFORMATION RELATED TO THE BANKING INDUSTRY. THE SITE ALSO
OFFERS RESOURCES TO EDUCATE AND PROTECT CONSUMERS INCLUDING THE MONEY
SMART COMPUTER-BASED INSTRUCTION (CBI) COURSE, A FRIENDLY AND EASY TO
USE LEARNING TOOL THAT TEACHES THE 10 MODULES OF THE MONEY SMART
CURRICULUM. EACH MODULE GENERALLY TAKES BETWEEN 20-30 MINUTES TO
COMPLETE.
H. NATIONAL FOUNDATION FOR CREDIT COUNSELING (NFCC) -
WWW.NFCC.ORG.
PROVIDES USEFUL INFORMATION AND SERVICES RELATED TO DEBT MANAGEMENT.
CG MUTUAL ASSISTANCE (WWW.CGMAHQ.ORG) HAS LONG PARTNERED WITH NFCC
AND WILL PAY REASONABLE FEES FOR COUNSELING SERVICES PROVIDED BY
THEIR MEMBER AGENCIES, CONSUMER CREDIT COUNSELING SERVICE (CCCS)
OFFICES, NATION-WIDE. TO FIND A CCCS OFFICE NEAR YOU GO TO
WWW.NFCC.ORG/FIRSTSTEP/FIRSTSTEP(UNDERSCORE)01.CFM OR CALL
1-800-388-2227.
7. ADDRESSING THE FINANCIAL NEEDS OF OUR SHIPMATES IS BOTH AN
INDIVIDUAL AND A LEADERSHIP ISSUE. PLEASE CONSIDER USING THE
MILITARYSAVES CAMPAIGN AS BOTH A PERSONAL AND COMMAND OPPORTUNITY TO
PRACTICE AND PROMOTE POSITIVE FINANCIAL BEHAVIOR. AND REMEMBER TO
TAKE THE MILITARYSAVES PLEDGE AT WWW.MILITARYSAVES.ORG.
8. POC: MR JOHN REIBLING, COMMANDANT (CG-1112), AT (202) 475-5161, OR
VIA E-MAIL AT JOHN.S.REIBLING(AT)USCG.MIL.
9. CAPT D. E. CULKIN, JR., ACTING DIRECTOR OF HEALTH, SAFETY, AND
WORK-LIFE, SENDS.
10. INTERNET RELEASE AUTHORIZED.
