Saving for competing priorities like emergency savings, paying down debt, and retirement while juggling daily living expenses can be overwhelming. Having a practical, yet holistic approach and plan for your money will aid in alleviating financial stress, which is common among veteran households.
On this day, we’ll get a clear view of your finances, identify your short, mid, and long-term goals, and ensure you have a realistic and attainable spending and savings plan that aligns with your personal values and what matters most to you.
Whether it’s needing to cover the cost of a sudden car repair right after transitioning out of the military, or managing unexpected expenses during your first civilian job, having short-term savings on hand allows you to handle these emergencies without dipping into funds needed for your current bills or future retirement.
On this day we’ll elevate the following messages:
- The importance of building a short-term savings account for emergencies and opportunities
- If you’re just starting out with a short-term savings account, set a realistic goal for yourself to build a savings habit like $500.
- Saving is cyclical. While you’re building savings, you will have to spend it. You can release any shame around dipping into your savings account when you’ve set up automatic savings.
Additional content, messaging, special events, and resources to support this theme will be available inside the #VSW2024 Digital Toolkit.
