Over the years, the percentage of active-duty members who report they are satisfied with their financial situations has increased, as per a recent analysis of survey data by the Defense Manpower Data Center.
The DMDC surveyed both the populations and reported that almost 75 percent feel comfortable with their current financial situation, according to Kimberly Williams, DMDC, in a briefing to the Department of Defense Military Family Readiness Council on June 16. In addition, it should be noted here that the percentage of members and spouses who have faced any financial problems was significantly reduced in the past 12 months.
According to Williams, this data from the DMDC survey is actually scientifically predictable for the entire force.
He added, ?The bottom line for these results is that the financial condition has improved overall for active-duty members and active-duty spouses over the years and remains steady for reserve component members and reserve component spouses. There are fewer active-duty members and fewer active-duty spouses experiencing financial problems over the years.?
However, Chief Master Sergeant of the Air Force James Cody, said that the assertions should be made with caution. He did appreciate the positive trend but also noted that the word ?comfortable? could different from person to person.
Cody added, ?We?re not actually saying how much money they have in the bank, how much savings.?
Later on, in an interview, he further asserted, ?I?m glad people are becoming more comfortable with their finances today. But that doesn?t mean they are where they need to be.?