Savings Bonds: an inconvenient savings plan

The April 14th It's Your Money in the Navy Compass says the inconvenience of redeeming Savings Bonds makes them better than other investments because it prevents impulse buying.

Not only is it a good idea for Sailors to invest in TSP [Thrift Savings Plans], but the little recognized U.S. Savings Bonds are a great way to put away money that is easily forgotten about, but able to use without penalty if needed.

Savings bonds can be conveniently purchased on MyPay, but are inconvenient to cash in because you can only go to a few financial institutions to cash them in. The inconvenience of the bonds is a good thing because it keeps you from using the money for impulse buying.

"Having an inconvenient savings plan can help with impulse buying because you don't have the money on hand, but you can get it without penalty, it will take time and give you time to think whether or not you need that item. The U.S. Savings Bond is hands down the best inconvenient savings plan I've come across," said Kaufman.