Saving Money, the Navy Way

The U.S. Navy has some useful — and creative! – advice for military personnel and their families who ask: Where am I going to find extra money to put away? Listed below are a few of the Navy’s tips, which may help you in your effort to build a substantial nest egg.

  • When payday comes around, always pay your savings account first as though it were a regular bill.
  • Direct deposit is probably the easiest way to do this. Remember, the amount you deposit is not as important as depositing something on a regular basis. So set it – and forget it!
  • Save all of your change in a jar.
  • Pick a designated date and take it to the bank to deposit into savings.
  • Scrimp one month out of the year.
  • Let your imagination go wild on how you can save as much as possible for one month. Knowing that this episode of frugality will end in 30 days may help add to your motivation.
  • Give up one trip to a fast food restaurant per week and make a sack lunch to eat instead.
  • Put the money you saved into your account!
  • Make some family savings goals together (save for vacation, a dinner out, or a trip to an amusement park).
  • Show the children your written family budget.
  • Add up the numbers so they can see where the money is being allocated. Try to get a family consensus on which expenses can be cut back, and task each person with a money savings responsibility.
  • Make a game out of cutting costs and saving.
  • Offer special rewards to your kids if they meet their own savings goals (saved enough money for a toy, a trip to the movies, clothes, bike, or a first car).


This content was developed using money-saving tips from the U.S. Navy Personal Financial Management Program that were posted by the Consumer Financial Protection Bureau on the CFPB’s website. For more tips and information, visit:

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