First Command Reports: Military Families Prepare for Frugal Thanksgiving

Guía de Regalos

First Command Financial Behaviors Index® reveals top cost-cutting
techniques of men and women in uniform

FORT WORTH, Texas–(BUSINESS WIRE)–America’s career military families are continuing their everyday
frugality into this year’s holiday spending season with plans for a
cost-conscious Thanksgiving celebration.

The annual Thanksgiving spending survey through the First Command
Financial Behaviors Index® reveals that 76 percent of middle-class
military families (senior NCOs and commissioned officers in pay grades
E-5 and above with household incomes of at least $50,000) say their
Thanksgiving plans will change as a result of the current economic
situation. That’s about the same as the past two years. In contrast,
just 45 percent of civilian families say their plans will change. That’s
also unchanged from the past two years.

Active-duty families will be cutting back on Thanksgiving in a variety
of ways, including:

  • Reducing travel (30 percent)
  • Dining with immediate family members only (30 percent)
  • Sticking to a set budget (29 percent)
  • Spending less on decorations (27 percent)
  • Spending less on food (16 percent)
  • Going to someone else’s house for dinner (14 percent)
  • Having a “pot luck” dinner (13 percent)
  • Going out to a restaurant for dinner (11 percent)

“Again this year, we see that financial uncertainty and concern is
prompting middle-class military families to plan on maintaining their
everyday frugality during the holiday season,” said Scott Spiker, CEO of
First Command Financial Services, Inc. “Their strategies for a lean
Thanksgiving celebration come at a time of continuing fears over how
defense spending cuts will impact their household finances. Concerns
over sequestration have prompted two out of five military families to
cut back on everyday spending. By continuing to tighten their belts
during the holidays, military families are making it easier on
themselves to effectively pursue long-term financial security during
this uncertain time.”

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 Advisory Services, 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 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.

Contacts

First Command Financial Services
Mark Leach, 817-569-2419
Media
Relations
msleach@firstcommand.com