Those who dedicated their lives to serving are now left vulnerable to debt
Serving in the military doesn’t guarantee stable finances, says a new study from financial wellness service Zebit. Sixty-five percent of participants say they feel stressed about their military debt and financial situation. And that’s not the worst part…
- 20 percent struggle with money/live paycheck-to-paycheck
- 40 percent feel as though the military community doesn’t have enough options when it comes to buying costly items
- 67 percent would resort to using a credit card as means to pay for a $500-$1,000 purchase
- 44 percent have credit card debt. Nearly a third owe $5,000 or more (29 percent)
And this financial uncertainty may have negative results. Seventeen percent feel so stressed financially, they feel they can’t concentrate on duty.
Zebit CEO Michael Thiemann said that these statistics show an “unfortunate reality of revolving debt and increased stress levels [for military personnel].”
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