April is Military Saves Month, a campaign coordinated by the nonprofit Consumer Federation of America and is dedicated to helping service members and their families save money, reduce debt and build wealth.
At some point, I’m sure you’ve probably heard a tip or a saying that includes this sage piece of advice: Learn from your mistakes. There’s a lot of truth to that; however, here’s a better approach: Learn from other people’s mistakes.
When USAA decided to help make the Military Saves video project My Money Mistakes a reality, this pain-free approach to personal growth was part of the allure. You can see what I mean by checking out the entire series of videos. Money mistakes happen, but learning from those mistakes can help us get back on track with our saving goals. Each of the five videos features real people providing actionable, experience-based advice. In other words, they may tell you something you need to hear before it becomes your own reality.
As I watched the videos, I learned about five of their mistakes, all of which I hope you can avoid.
If a picture is worth 1,000 words, I’m sure I didn’t do the videos justice here. Take a few minutes and watch them yourself. They will provide the opportunity to learn some tough lessons without the normal headaches and heartaches associated with making mistakes on your own. Check out https://militarysaves.org/ for more information and additional resources, and take the pledge to save money, reduce debt and build wealth over time.
Check out one of the videos here:
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JJ Montanaro is a Certified Financial Planner® professional and part of the Military Affairs team at USAA. He’s a graduate of the U.S. Military Academy and has over 20 years of financial planning experience.
Certified Financial Planner Board of Standards, Inc. owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER TM in the United States, which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
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