First Command Reports: Military Families Commit to Grow Financially in 2016

13 Ene 2016, 00:00 AM CST

First Command Financial Behaviors Index® reveals top financial
resolutions for new year

FORT WORTH, Texas–(BUSINESS WIRE)–The majority of America’s career military families feel their financial
situation will pick up in 2016 – and they plan to help it along through
a set of money-themed New Year’s resolutions.

The First Command Financial Behaviors Index® reveals that 84 percent of
middle-class military families (commissioned officers and senior NCOs in
pay grades E-6 and above with household incomes of at least $50,000) are
confident that their household finances will improve in the new year.
That confidence aligns with a variety of positive financial aspirations,
with most survey respondents identifying at least one positive strategy
or frugal activity they will pursue in 2016.

The top New Year’s resolutions from military families for 2016 are:

• Get out of debt					32 percent
• Improve credit score					31 percent
• Be financially independent					28 percent
• Use cash or debit more often instead of credit cards					28 percent
• Learn to budget responsibly					28 percent
• Cut back on excessive spending					28 percent
• Learn not to live beyond your means					25 percent
• Start saving money for retirement or put more money into retirement savings					24 percent
• Make sound investments in the stock market					19 percent
• Keep track of financial activities					19 percent

These New Year’s resolutions come at a time of continuing financial
uncertainty related to sequestration and defense downsizing. The
November survey reveals that 75 percent of military families are anxious
about cuts to defense spending, reflecting a long-term trend.

Financial planners are helping many families counteract feelings of
uncertainty about the future. The Index reveals that 59 percent of
active-duty families who have a financial planner feel confident their
financial situation will improve in the next year. That compares to just
33 percent who do not have a financial planner.

“As we look back on another year of uncertainty over defense downsizing
and cuts to military compensation, our men and women in uniform are
responding through a variety of frugal spending strategies,” said Scott
Spiker, CEO of First Command Financial Services, Inc. “Families who work
with a financial coach are more likely to enact many of these strategies
in their pursuit of financial security. We look for a growing number of
military families to put their trust in knowledgeable financial
professionals as they look for new ways to grow their household finances
in 2016.”

About the First Command Financial Behaviors Index®

Compiled by Sentient Decision Science, Inc., the First Command Financial
Behaviors Index® assesses trends among the American public’s
financial behaviors, attitudes and intentions through a monthly survey
of approximately 530 U.S. consumers aged 25 to 70 with annual household
incomes of at least $50,000. Results are reported quarterly. The margin
of error is +/- 4.3 percent with a 95 percent level of confidence. http://www.firstcommand.com/fbi/

About Sentient Decision Science, Inc.

Sentient Decision Science was commissioned by First Command to compile
the Financial Behaviors Index®. SDS is a behavioral science and
consumer psychology consulting firm with special vertical expertise
within the financial services industry. SDS specializes in advanced
research methods and statistical analysis of behavioral and attitudinal
data.

About First Command

First Command Financial Services and its subsidiaries, including First
Command Bank and First Command Financial Planning, assist American
families in their efforts to build wealth, reduce debt and pursue their
lifetime financial goals and dreams—focusing on consumer behavior as the
first and most powerful determinant of results. Through knowledgeable
advice and coaching of the financial behaviors conducive to success,
First Command Financial Advisors have built trustworthy, lasting
relationships with hundreds of thousands of client families since 1958.

First Command Financial Services, Inc., is the parent of First
Command Financial Planning, Inc. (Member SIPC,
FINRA),
First Command Advisory Services, Inc., First Command Insurance Services,
Inc. and First Command Bank. Financial planning services and investment
products, including securities, are offered by First Command Financial
Planning, Inc. , a broker-dealer. Financial planning and investment
advisory services are offered by First Command Advisory Services, Inc.,
an investment adviser. Insurance products and services are offered
by First Command Insurance Services, Inc., in all states except Montana,
where as required by law, insurance products and services are offered by
First Command Financial Services, Inc. (a separate Montana domestic
corporation). Banking products and services are offered by First Command
Bank. In certain states, as required by law, First Command Insurance
Services, Inc. does business as a separate domestic corporation.
Securities products are not FDIC insured, have no bank guarantee and may
lose value. A financial plan, by itself, cannot assure that retirement
or other financial goals will be met. First Command Educational
Foundation is a 501(c)(3) public charity. It is not affiliated with
First Command Financial Services, Inc., or any of its affiliated
entities. First Command Financial Services, Inc. and its related
entities are not affiliated with, authorized to sell or represent on
behalf of or otherwise endorsed by any federal employee benefits
programs referenced, by the U.S. government, or the U.S. armed forces.