In a time that our country is preparing to send over more troops to the middle east, the financial standing of these troops is an important factor for their planning for them and for leaving their families. A recent survey from HarrisX and the Online Lenders Alliance among U.S. adults and active duty households shows financial pressures on military households, especially when compared to other Americans.
- Active duty military households are far more likely than all Americans to live each month paycheck to paycheck (54% for active duty households, compare to 33% for all Americans).
- This difference holds when comparing lower-income households (i.e., income $50k or less)—59% of lower-income active duty military households live paycheck to paycheck each month, 47% of lower-income Americans live paycheck to paycheck each month
- Among active duty military households, 54% live paycheck to paycheck each month and 14% do that every other month, meaning nearly 68% feel monthly paycheck stress at least half the year.
- Comparatively, among all Americans, 33% live paycheck to paycheck every month with an additional 14% who do so every other month—meaning nearly half (47%) feel monthly paycheck stress at least half the year.
For more data, among active duty military households and Americans, on households’ finances and use of credit, please click this link for a topline memo and methodology.