Exploring financial behaviors of military households: Do financial knowledge and financial education matter?
- Wilmarth, M. J., Kim, K. T., & Henager, R. (2023). Exploring financial behaviors of military households: Do financial knowledge and financial education matter? Financial Services Review, 31(1), Article 1. https://doi.org/10.61190/fsr.v31i1.3193
- This study examined short-term (e.g., having emergency funds, spending within limits) and long-term (e.g., financial planning, saving for retirement) factors related to the financial behaviors of military households (i.e., active-duty Service members and Veterans). Civilian (n = 17,751) and military (n = 3,045) households' data were taken from the 2018 National Financial Capability Study. Participants reported their objective and perceived financial knowledge, whether they had received financial education, and their shortand long-term financial behaviors. After accounting for sociodemographic characteristics (e.g., age, income), financial education was related to more perceived financial knowledge and more engagement in healthy long-term financial behaviors for military households.
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