Email   Print   Share By Lt. Gen. Robert Cone, III Corps and Fort Hood Commander

Facebook Digg Delicious February 18, 2010 | Editorial

Lt. Gen. Robert Cone

As Soldiers, you work very hard for your money, and most of the time it never seems like you have enough. How many times have you looked around at the end of each month and asked yourself where did it go? Every month you pay your utility bills, car payments, insurance premiums, rent or home mortgage and credit cards bills, BUT are you paying yourself?

If you’ve ever been to a financial planning seminar the advice they always tell you up front is to “pay yourself first.”

Next week, February 21-28, is “National Military Saves Week.” Military Saves is a national campaign to persuade, motivate and encourage military families to save money every month, and to convince leaders and organizations to be aggressive in promoting automatic savings.

One of the main secrets to accumulating wealth, and more importantly financial stability and security in the long term, is consistent action over time. These actions include setting financial goals; creating, and sticking to, a budget; consolidating and paying down debt; and saving and/or investing your hard earned money.

One of the easiest and best ways to save money is to set up an automatic bank draft. By having a set amount of money deposited into a savings account each month you are effectively “paying yourself first.” Start out small and be realistic with your needs and goals. Look for ways to cut back on your spending and take personal responsibility for your financial future.

You can start right now by taking the Saver Pledge: “I will help myself by saving money, reducing debt, and building wealth over time. I will help my family and my country by encouraging other Americans to build wealth, not debt.”

There are a whole host of resources available here on Fort Hood to help you on your way to financial readiness and future wealth. From your unit command financial noncommissioned officer to the Personal Financial Assistance Center, located in the Resiliency Campus, professionals are standing by to help.

The Army Community Service Financial Readiness Branch offers classes about credit, savings, investing, home buying, banking, budgeting/debt management, insurance and consumer awareness/identity theft.

Financial readiness is a personal obligation for every Soldier. You cannot effectively focus on your mission if you are worried about finances and debt. Take charge of your fiscal future by taking advantage of these resources and developing healthy money management habits and routines.

I personally encourage all of you to begin saving this week and make it a lifelong commitment. Good luck on your quest to build wealth, eliminate debt, and achieve financial independence.

Pay Yourself First. Phantom Warriors!