More than 83% service members pay all of their bills on time and have no debts in collection —significantly more than the national population who are more likely to struggle to pay bills, get calls from collectors and consider bankruptcy.
Nearly 9 in 10 service members (87%) have savings (excluding retirement). In fact, while almost 1 in 3 adults nationally (32%) save nothing annually for retirement, only 8% of service members (four times less) save nothing.
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Almost 6 in 10 service members are extremely/very confident in their ability to meet future financial obligations.
A significant minority of service members are more worried today (than they were one year ago) about:
- 37% being able to save for future goals
- 31% having enough money to cover unexpected expenses or emergencies
- 25% meeting basic household needs
- 22% being able to make pay debts on time
Those who need financial assistance or help with debts can go to Military OneSource for resources.
