Pittsburgh, PA - February 24, 2014 - Your Better Business Bureau is a participant in Military Saves Week, an annual opportunity for organizations to promote good savings behavior. The Military Saves campaign runs from February 24 through March 1 and provides assistance for service members, their families and civilian employees to organize and assess their own saving status. Thousands of organizations around the world, along with BBB, are participating in the event by providing information and resources on increasing personal financial readiness to impact millions of people.
The Military Saves organization is a component of the nonprofit America Saves and a partner in the Department of Defense’s Financial Readiness Campaign. Military Saves encourages military members and their families to take the Military Saves pledge and join thousands of others who are pledging to pay down debt, save money and take financial action during Military Saves Week.
The most popular saving goals for those who have pledged to save through Military Saves include:
Save for Emergencies: Only 37% of low-to-moderate income households have a savings or money market account at a bank or credit union.
Pay Down Debt: Americans spend well over $75 billion a year just on credit card interest and fees.
Save for a Car: American households spend, on average, more than $8,000 dollars on car purchases and maintenance each year. Individuals can reduce this transportation expense by making wise purchase decisions.
Save for Retirement: A 2013 survey found that retirement is the top priority for Military Savers.
In support of Military Saves Week and in conjunction with BBB Military Line, your BBB is participating in a financial readiness workshop that is free and open to all military members, veterans and their spouses. The “Making $ense of Finance” workshop is presented by the Pennsylvania Military Finance Alliance, of which BBB is a founding member, and will be held on Saturday, March 1 from 10 a.m. to 3 p.m. at PNC Park in Pittsburgh. There will be raffles and networking opportunities available for participants, along with seminars on a variety of financial topics including retirement planning, understanding credit reports and preventing identity theft. Click here to register for the event.