Military Saves Week coming to Schriever
By Scott Prater, Schriever Sentinel
/ Published February 11, 2014
SCHRIEVER AIR FORCE BASE, Colo. -- According to a national financial capability study, more than one-third of military survey respondents reported facing difficulties in covering monthly expenses while only half of respondents said they had funds set aside for unanticipated financial emergencies.
Also, one in five respondents said they engaged in alternative borrowing methods such as pay-day loans or advances on tax refunds, while more than one quarter of respondents reported owing more than $10,000 in credit card debt.
As a means for encouraging military families to practice sound financial behavior, the Schriever Airman and Family Readiness Center will observe Military Saves Week Feb. 24-28.
As part of the effort, the A&FRC will offer financial courses every day of the week beginning with a Money Fair at the Satellite Dish dining facility.
"Recent studies have shown that personal savings rates among individuals in America are at an all-time low," said Liz Archuleta, Schriever A&FRC financial readiness consultant. "We're hoping the Military Saves Week effort will raise awareness about the importance of saving money."
Archuleta elected to cover a wide variety of financial topics throughout the week and she'll teach three of the classes.
"I wanted to address areas where money impacts lives, such as marriage, children, savings and wealth building," she said. "We've also partnered with some organizations in the community to assist in our effort."
Lois Carlock, Ent Federal Credit Union's education, marketing and event manager, will teach about raising money-smart kids.
"I think parents are sometimes surprised to learn that their kids can have such different 'money personalities,'" she said. "One could be a saver and the other a spender. Often, that's the case with parents too. The key thing with the class is we show parents how to teach their children the meaning of money to help ensure they can survive in a world full of financial hazards. We'll talk about everyday lessons, saving, spending and shopping, allowances and credit and debt."
Schriever's Military Family Life Consultant will facilitate a course on money and marriage.
"One of the biggest causes of divorce in America today is financial difficulty," Archuleta said. "When I tell people about this statistic, I always say, 'it's not the money, it's people's inability to talk about money. This class, which we call 'Matri-Money,' is basically a couples' communication class."
Archuleta will also facilitate a personal money-history class and a 'building wealth, not debt class,' and will also host a fun activity for children at Schriever Child Development Center.
The following are classes offered during military saves week
Feb. 24 - Money Fair, Satellite Dish dining facility, 11 a.m. to 1 p.m.
Feb. 25 - Your Money History, A&FRC classroom, 11 a.m. to 1 p.m.
Feb. 26 - Matri-Money, A&FRC classroom, 2 p.m. to 4 p.m.
Feb. 27 - Raising Money-Smart Kids, A&FRC classroom, 11 a.m. to 1 p.m.
Feb. 28 - Build Wealth Not Debt, A&FRC classroom, 2 to 4 p.m.
To register for a class or for more information visit the Schriever A&FRC or call 567-3920.