Marine helps others save
Five years ago, Erich Weber joined the military to protect and serve the nation. Five months ago, he joined Military Saves to build his personal wealth and encourage fellow Marines to do the same.
Hospital Corpsman Second Class Weber describes himself as financially savvy but admits to making money mistakes when he first enlisted. “I spent money on temporary things like restaurant meals, movies, and cover charges, and I know a lot of guys who still do. I didn’t want to be the typical sailor – broke three days after getting paid - but it took me a couple of years to get my spending under control.” So he thought about how he could help others learn from his mistakes, and he knew Military Saves could help.
He discovered the campaign while surfing Navy Knowledge, an online learning site. He emailed Military Saves Director Sarah Shirley to inquire about starting a campaign at Camp LeJeune, North Carolina, where he’s been stationed for over a year. After spending some time on MilitarySaves.com, reading through the material, he introduced Saves to his commanding officer. “The Sergeant Major told me to run with it, so that’s what I’m doing.”
For those who claim it’s too difficult to put money away, he points out that the military makes it easy to save through the Thrift Savings Plan (TSP), the government’s retirement plan. “The TSP is awesome! It’s a great stepping stone towards building wealth,” he said. Weber saves automatically in another way. His savings account is linked to his checking account, and he tries to put away a few dollars each month.
Weber is already planning events on base to increase awareness of and enrollment in Military Saves. “I’m thinking of a pig roast. If you don’t enroll, you don’t eat.” And he talks about the campaign every chance he gets. “I’m always telling guys to track their expenses or asking them if they have debt. I tell them to pay it down quick.” He also plans to create a Military Saves bulletin board in the battalion that will feature ways to save, campaign updates, and upcoming Military Saves events.
Weber sees himself serving in the military for many years to come. “I love my work in the Marine Special Operations Command,” he says. Once he retires from active duty, he hopes to continue educating people about the importance of savings. His future career plans? He hopes to build on what he has learned through Saves to become a financial advisor.