This Day in US Military History is an ongoing catalog of military related events be it, Army, Navy, Marines, Air Force or Coast Guard. Pitch in and let me know if something is wrong or missing or if I just don't have the whole story.
22 October 2010
Military Folks Financially More Savvy Than Civilians
"The first-ever 'Military Financial Capability Study' finds that service members are more likely than civilians to keep up with monthly expenses, save for their kids' education, avoid payday lenders, invest in stocks and bonds, and even check on their own credit scores.
Where military members clearly need more financial counseling is credit card balances. Twenty-seven percent carry more than $10,000 in credit card debt versus only 16 percent of civilians surveyed.
But overall 'we can definitely say that [military personnel] are more savvy than the general population' regarding personal finances, said John M. Gannon, president of the FINRA Investor Education Foundation."
Where military members clearly need more financial counseling is credit card balances. Twenty-seven percent carry more than $10,000 in credit card debt versus only 16 percent of civilians surveyed.
But overall 'we can definitely say that [military personnel] are more savvy than the general population' regarding personal finances, said John M. Gannon, president of the FINRA Investor Education Foundation."
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