Military Saves Week: The Importance of an Emergency Fund for Military Personnel

Join our #CreditChat on Periscope, YouTube Live, Twitter, and Snapchat every Wednesday at 3 p.m ET. This week,  Experian  supported Military Saves Week with a special #CreditChat about why it’s especially important for military servicemembers to establish an emergency fund.

This panel included: Brian Posten: Business Development Officer at Air Force Federal Credit Union; Alecia Blair: Military Saves Director and Christina Roman: Social Media Specialist at Experian.

We also featured financial tips all week on Snapchat.

Moments from our Tweet chat.

Questions We Discussed:

    • Q1: What is an emergency fund?
    • Q2: Does an emergency fund look any different for a servicemember than it does for a civilian?
    • Q3: What kind of emergencies might a servicemember encounter where an emergency fund could really make a difference?
    • Q4: What are best practices for building an emergency fund while serving in the military?
    • Q5: How much should a servicemember aim to save in an emergency fund?
    • Q6: Where should they keep their emergency funds?
    • Q7: Are there any unique benefits for servicemembers that might help them boost their emergency funds?
    • Q8: What are some barriers that keep servicemembers from saving their money?
    • Q9: What are best practices for building an emergency fund while paying off debt?
    • Q10: What are some common mistakes people make when trying to build an emergency fund?
    • Q11: Any advice on best practices for building an emergency fund?

Resources:

– Military Saves Week Digital Toolkit

Take the Military Saves Week Pledge

– Learn about the Military Saves Certificate Brian mentioned in the video chat. 

MilitarySaves

If you’ve never heard about #CreditChat, here is a brief overview:

Relevant chats on YouTube: