Finance: lose debt, create savings Published Feb. 5, 2009 By Shauna Lacey 90th Force Support Squadron F.E. WARREN AIR FORCE BASE, Wyo. -- Was one of your New Year's resolutions to get financially fit? Warren Federal Credit Union and the Warren Airman and Family Readiness Center have launched the "Combat Debt/Score Savings" challenge. Would you like to decrease your debt load; jump start your savings; and stop living paycheck to paycheck? Tell us what your goals are, and maybe we can help. Of course you're thinking, "What's in it for me?" Well here's an opportunity to get your financial house on a solid foundation. You'll have a one on one session to discuss your goals and get a plan. During the next four months, you will meet with your financial coach who will monitor your success and give you tools to keep you on track. Your individual situation will remain confidential; however, there will be periodic updates in the Warren Sentinel on the status of all of our participants. For example, our young family of four has made significant process in the last 60 days. They reduced their debt by 40 percent and increased their savings by 25 percent. We want to highlight the successes of all our participants and your success will encourage others to be financial ready. You might be wondering what you need to do to participate: You must be an active duty I.D. card holder and assigned to a military unit in Cheyenne. You must have a need for financial improvement and a willingness to significantly improve your situation. For example, debt reduction can create savings. Creating a savings plan helps fund for retirements, college funds, or home purchases. You must be willing to attend monthly meetings to track progress and results. If this sounds like a program for you, pick up an application from Warren Federal Credit Union, the Warren Airman and Family Readiness Center or your first sergeant. A committee will select several families or individuals to participate in the program. Those selected will be notified during Military Saves Week Feb. 22 to 28. The individual or family making the best progress towards their financial goals will received "special recognition" to be announced at the end June.