New Data Released for Military Appreciation Month Shows Service Members and Spouses More Likely to Face Financial Instability, Rely on Non-Traditional Financial Services, and Experience Debt-Related Stress
WASHINGTON, July 10, 2025 /PRNewswire-PRWeb/ -- Amid ongoing economic uncertainty, half (50%) of active-duty U.S. military service members report "just getting by financially," a stark figure from the 2025 Financial Literacy and Preparedness Survey, funded by the Wells Fargo Foundation, released by the ® (NFCC®) and conducted by The Harris Poll. These results, highlighted during Military Appreciation Month, underscore unique financial challenges for America's service families.
Military families navigate significant financial volatility, with 83% of service members and 62% of spouses experiencing impactful changes like using savings for daily expenses in the past year —a rate higher than for civilians (19%). Service members (29%) and spouses (26%) more frequently used savings this way. This pressure may contribute to greater reliance on non-traditional services like "buy now, pay later" (BNPL) and cash advance apps. Furthermore, service members (90%) and spouses (88%) are more likely to carry household debt than the general population (75%), including more credit card and personal loans.
Attitudes towards debt also differ; service members are notably more comfortable using maximum credit despite recession fears (65% vs. 37% Gen Pop) and half (50%) feel the debt amount doesn't matter if they're going to have it. Financial stress impacts family life, with 52% of married service members reporting money management leads to conflict. Many service members (61%) and spouses (46%) also worry about making ends meet if the service member were wounded or disabled.
"These survey findings significantly deepen our understanding of the unique financial realities faced by those who serve our country," said NFCC CEO Mike Croxson. "This strengthens NFCC's resolve to support our Member Agencies, who work diligently to provide targeted assistance, helping service members and veterans overcome these financial challenges and achieve their goals."
The dynamic nature of military life contributes to significant financial flux, with 83% of service members and 62% of their spouses reporting impactful financial changes in the past year alone, such as unexpectedly using savings or increasing credit card debt. For veterans, the transition presents distinct hurdles; many wish for more specific financial resources (63%) and a notable portion (40%) worry more about their financial future now than on active duty.
These realities—from active service volatility to veteran adjustment challenges—emphasize the ongoing need for robust support systems. The 2025 Financial Literacy and Preparedness Survey underscores the critical need for targeted financial education and accessible support tailored to every stage of the military journey.
Survey Methodology
Click to view details about the 2025 Financial Literacy and Preparedness Survey methodology.
About NFCC
Click for more information about the National Foundation for Credit Counseling (NFCC).
About The Harris Poll
Click for more information about The Harris Poll.
Media Contact
Bruce McClary, NFCC, 202-677-4301, [email protected], nfcc.org
SOURCE NFCC
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