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TDCI Encourages Tennesseans to Commit to Savings During Military Saves Month in April

Month Promotes Automatic Savings to Help Service Members and Their Families Reach Their Savings Goals
Thursday, April 15, 2021 | 10:37am

NASHVILLE – As part of Military Saves Month 2021 during April, the Tennessee Department of Commerce & Insurance’s Securities Division is sharing the message of saving successfully and encouraging Tennessee’s military community to save money, reduce debt and build wealth.

Military Saves, an initiative of America Saves and the Consumer Federation of America, is the nonprofit organization behind Military Saves Month. The virtual savings movement is centered around themes of saving automatically, saving for the unexpected, saving to retire, saving by reducing debt and saving as a family.

"The work of Military Saves is to encourage the entire military community, including military families and veterans, to save as we believe that financial readiness is mission readiness,” says Angela Caban, Director of Military Saves.

TDCI encourages Tennessee’s military community to take the Military Saves Pledge this month. By taking the pledge, participants will set a goal for their savings and create a plan for reaching that goal. At the conclusion of Military Saves Month, those who participate in the program will gain clarity on their current financial situation, set new savings goals and create a realistic plan on how to achieve those goals.

“The military is the backbone of our nation and Military Saves Month is a great opportunity to help service members and their families enhance their financial stability,” said TDCI Assistant Commissioner for Securities Elizabeth Bowling “We encourage Tennessee military members to use this month to set a savings goal, make a plan and start saving automatically.”

A new blog post from TDCI Director of Investor Education Rachel Carden focuses on the steps consumers can take during Military Saves Month to build wealth and create greater financial stability.

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About Military Saves: Military Saves, a component of America Saves, seeks to motivate, support, and encourage military families to save money, reduce debt, and build wealth. The research-based campaign coordinated by the non-profit Consumer Federation of America (CFA), uses the principles of behavioral economics and social marketing to change behavior. Military Saves encourages the entire military community to take the Military Saves Pledge and for organizations to promote savings year-round, and especially during Military Saves Month in April. Military Saves also works with government agencies, defense credit unions, military banks, and other non-profit organizations to promote savings and debt reduction. For more, please visit MilitarySaves.org.