If you have been impacted financially by COVID-19, you may be eligible for financial support
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keyboard arrow down The COVID-19 pandemic has created numerous challenges for military families. According to the Blue Star Families’ 2020 Military Family Lifestyle Survey (September 2020) 37% of active-duty family respondents reported that COVID-19 had made their financial situation worse or much worse. Many of those challenges may have impacted your financial readiness and security. Military aid societies and other support organizations are making zero-interest loans and grants available to those who qualify. Click here to learn more about options for assistance. This step may make a difference in your financial future.
The Month of the Military Child is a time to recognize how their childhoods may differ and acknowledge the challenges faced by both military children and parents.
4 Ways to Increase Your Financial Literacy
From reading to listening to following experts in the field, you can increase your financial literacy with these tips. (Stock photo)
Being prepared for the unexpected is part of military life, but many military families are financially unprepared for a variety of reasons. In the 2020 Military Family Life Survey, 77% of military families reported paying over $200 per month in out-of-pocket housing expenses. In the 2019 Military Saves Saver Survey, over half (57%) of those surveyed said, Unexpected expenses are the biggest challenge to saving.
But knowing you re supposed to save and doing it are two different things, with a lot of obstacles involved that may be out of your control. And once you save, do you know what to do next? By taking some time to increase your financial literacy, you ll know what steps to take when you are ready.
It s a bit of a touchy subject : Food insecurity a problem within the US military stripes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stripes.com Daily Mail and Mail on Sunday newspapers.