June 2013
Military Consumer Protection Day 2013: Tweet Chat
June 18, 2013
by Carol Kando-Pineda, Attorney, FTC
Calling all military families and veterans! Are you looking to protect yourself or your family from fraud, identity theft, and scams? Maybe you’re curious about the best way to use credit, shop for a used car, or maximize your security online.
On Wednesday, 19 July, Military Saves will be participating in a Tweet chat with FTC and CFPB from 2pm - 3pm (EST) focusing on credit, debt and saving. To participate follow @FTC, @MilitarySaves, and use hashtag #mcpd.
Military folks are consumers, too – and critical to the economy. Just ask the 1.4 million men and women on active duty or the 1.1 million in the National Guard and Reserve forces. But the unique challenges of military life – frequent relocation, separation from family and friends, and the stresses of deployment – can make military households an attractive target for scam artists. In fact, during 2012 the Federal Trade Commission logged more than 62,000 complaints from servicemembers, veterans, and spouses about their experiences in the marketplace.
Read more: Military Consumer Protection Day 2013: Tweet Chat
New Savings Theme: Saving For College
June 13, 2013
By Katie Bryan, America Saves Communications Manager
The latest resource packet on Saving for College is now available to help you communicate with the public, your audience, and with other organizations on the importance of savings. The packet includes a sample article, social media content for the next five weeks, as well as tools and resources.
By June most recent high school graduates know what college they are going to, but many of them may still not know how they are going to pay for it. We’ve heard the stats that the average debt students have upon graduation has skyrocketed to $35,200, according to a recent Fidelity survey, and that the costs of attending college increase 6% each year. College is still a great investment for most students, especially with some planning ahead of time to help keep debt to a minimum. It’s still true that those with a bachelor’s degree will earn $1 Million more over their lifetime than those who only complete high school.
The challenge is to graduate with as little debt as possible. Here are three ways to help keep student debt to a minimum...
Our goal at America Saves is to promote the importance of savings and encourage individuals and families to take financial action. To help the people you serve save more successfully and to promote the importance of savings at a national level, we have put together this resource packet with you in mind.
More Articles from America Saves:
Saving For Your College Education
June 11, 2013
By Debra Taylor
Union Bank, N.A.
Senior Vice President and Regional Manager
Saving for a college education is an investment for the future, whether it is for your child, your spouse or yourself. With the rising costs of tuition, books, room and board, an in-state college education can run tens of thousands of dollars each year, and private colleges and universities are often double that. According to a report by the College Board, the non-profit organization that administers the SAT college entrance exam, over the last decade, in-state tuition and fees increased at an annual rate of 5.6 percent beyond general inflation, a more rapid rate of growth than in either of the two preceding decades.
Having a financial plan in place and knowledge about resources and savings options can help make a college education more attainable.
Prioritize your financial goals
Saving for a college education is an investment, but most financial advisors will warn against sacrificing your retirement savings to pay for college. If college savings come up short, consider a student loan, financial aid, or even additional work to help pay the way.
Determine how much to save
Coming up with the dollar figure that you will need to save for a college education varies widely depending on the type of school (private or public, four-year or two-year, in-state or out-of-state) and the indirect costs that will be incurred while in school for books, housing, food, etc. The College Board provides a college cost calculator on their Web site to help parents and students project how much they can expect to spend pursuing their degree. For this and other resources, visit www.collegeboard.org.
Military Saves Launches “National Guard Summer Savings Drive”
The following post comes from the Military Saves Blog. Follow them on Twitter and Facebook.
June 4, 2013
By Tiffany Sweat
Military Saves Intern: National Guard Project
Military Saves is pleased to announce the launch of the first National Guard Summer Savings Drive. Click here to read the full press release. The Drive will take place June 1, 2013 through June 30, 2013, to encourage Guard members and their families to take the Military Saves pledge as a commitment to save regularly.
What is the National Guard Summer Savings Drive?
The National Guard Summer Savings Drive is a campaign to promote Guard members, spouses, children/youth, and all DoD civilians and families to take the Military Saves Pledge. Military Saves has teamed up with the National Guard Bureau, the NG State and Family Program Directors, and the contracted Personal Financial Counselors to reach the Guard and Reserve population. Organizations that work with a National Guard population can take advantage of this savings drive by signing up to participate (http://www.surveymonkey.com/s/NGsummer2013) and downloading free resources to help plan and promote a pledge drive in their area.
How Do I Participate as an Organization/Installation?
1. Sign-up to participate
2. Share Military Saves messaging
3. Download Resources
4. Encourage everyone to take the Military Saves pledge or re-pledge
Read more: Military Saves Launches “National Guard Summer Savings Drive”
You Could Win $500 by Signing Up for Text Messages from America Saves
June 3, 2013
By Katie Bryan, America Saves Communications Manager
Your chance to win $500 is back! We know that saving money isn’t always top of mind. That’s why America Saves launched a new text message service to keep you motivated to save. Now, when you take the America Saves Pledge you can choose to receive text message tips and reminders. And if that isn’t enough, we are giving away $500 to help one person reach their savings goal. (Must be 18 years of age or older to win. See official rules here.)
How to enter to win the $500:
- Take the America Saves Pledge Between June 1 and June 30, 2013.
- Click the box to receive text messages. (Standard text message rates apply. Check with your provider. You can stop messages at any time by replying "stop" to any message)
When you take the America Saves Pledge, you will choose a savings goal and an amount to save. We will use the goal you choose to send you text message related to that goal. Text messages will come in the form of tips to help you find money to save, as well as advice and reminders to help you save for your specific goal.
It’s a win-win situation. One lucky person will win $500 to help them reach their savings goal – and everyone will win by staying motivated to save.
Don’t forget to share this with friends and family. It may be the thing that helps them set their goal to start and emergency fund, pay down debt, or save for items like education or retirement.
Good Luck and Happy Saving!
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