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Career Servicemembers Experiencing Finance-Related Health Issues, First Command Reports

JULY 21, 2015, FORT WORTH, Texas – Financial stress is taking a toll on the mental and physical health of America’s career military.

The First Command Financial Behaviors Index® reveals that 71 percent of middle-class military families (senior NCOs and commissioned officers in pay grades E-6 and above with household incomes of at least $50,000) say that during the past year someone in their household has experienced one or more mental or physical health-related issues commonly associated with financial worries. That’s statistically similar to last year, continuing an upward trend from 65 percent in 2013 and 62 percent in 2012.

Mental or physical health problems are particularly prevalent among military families who report high levels of concern over sequestration and the financial impact of anticipated cuts to defense spending. The Index reveals that 87 percent of survey respondents who feel extremely or very anxious about sequestration also report that someone in their family has experienced one or more of these health challenges. That compares to 64 percent of people who say they are either not anxious or only somewhat anxious about sequestration.

Significant differences between the anxious and not-so-anxious groups were identified for several specific health-related concerns, including:

* Difficulty falling asleep (43 percent versus 28 percent)
* Increased occurrence of headaches and migraines (27 percent versus 13 percent)
* Irritability (19 percent versus 8 percent)
* Strain in relationships (19 percent versus 8 percent)
* Post-traumatic stress disorder (14 percent versus 5 percent)
* Lower sexual drive (13 percent versus 5 percent)
* Heart attack (8 percent versus 2 percent)

“Sequestration and defense downsizing are intensifying the financial stresses faced by servicemembers and their families,” said Scott Spiker, CEO of First Command Financial Services, Inc. “Seven out of ten career military families say they are feeling anxious about sequestration. We remain committed to helping servicemembers through this uncertain time by coaching them in healthy financial behaviors so they can get all aspects of their lives squared away.”

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Brief Look Inside Tokyo’s Historic US Army Post

AUGUST 18, 2022 — On a small parcel of land in the heart of Tokyo sits a U.S. Army post surrounded by the sights of a vibrant tourist district. The installation, called Akasaka Press Center, once housed an Imperial Japanese Army infantry regiment, later replaced by American occupation forces at the end of World War […]

Army Develops Future Soldier Preparatory Course

JULY 27, 2022 – In response to the most challenging recruiting environment since the start of the all-volunteer force in 1973, the Army is implementing an innovative new program to prepare recruits who are en-route to initial military training to meet or exceed our rigorous standards. The Future Soldier Preparatory Course pilot program, which is […]

Top 5 University Scholarships for Military in the UK

JUNE 20, 2022 – The cost of a college education can be daunting and unaffordable for many university students in the UK. For the students who have set their hearts on joining the military, there are several scholarships available for them.  These scholarships help military students overcome the financial challenges of attending college. A University […]

Federal Hiring Summit for Transitioning Service Members

AUGUST 10, 2022 – Commander Navy Installation Command Headquarters, Fleet and Family Support Center is hosting a federal hiring summit Aug. 15-18. Although the summit is hosted by the Navy, all military personnel and their spouses can attend this virtual event. Those who are preparing for their end of service or actively transitioning out of […]

Military Consumer Month Focuses on Financial Literacy

JULY 29, 2022 – With inflation soaring in the U.S. and elsewhere, many among the military community, including reservists and veterans, are struggling to make financial ends meet and are in need of a good battle plan to beat their budget foes. Anyone in such a predicament would do well to employ the Department of […]

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