Ninety percent of today's middle-class military families believe it is important to educate their children about financial matters, according to a survey jointly commissioned by First Command Financial Services, Inc., and First Command Educational Foundation.
Before they were famous, many truly influential men and women started by serving their country in the US military or grew up in military families.

How to Create Financial Literacy for Your Military Children

What are the three best pieces of financial advice to teach to your military children?

-- Live within your means
-- Pay yourself first
-- Budget responsibly

While economic uncertainty and changes in military benefits may impact your future military financial security, middle-class military families are taking action to improve the financial literacy - and thus, the future financial security - of their children.

Those who are better prepared with financial education and literacy are best equipped to thrive in any economy.

Ninety percent of today's middle-class military families (senior NCOs and commissioned officers in pay grades E-6 and above with household incomes of at least $50,000) believe it is important to educate their children about financial matters, according to a survey jointly commissioned by First Command Financial Services, Inc., and First Command Educational Foundation.

Military survey respondents believed in the importance of teaching financial information at school as well as in the home (91 percent and 97 percent, respectively).

Always ahead of the curve, today's service members and their spouses clearly recognize the value of preparing their children now for the financial challenges they will face as adults.

Almost half of the survey respondents with children living at home say they use their own personal financial mistakes to educate their children. These military families are using their experiences with money to reinforce the lessons and teach their children how to take personal responsibility for their own financial secure futures.

This wise approach has been recommended by many financial professionals who foster financial literacy in their own children.

This family focus on financial education for military children comes at an appropriate time for First Command Educational Foundation, which is pursuing a national expansion of its popular financial literacy program for high school students.

Money Matters Online is an online version of the Foundation's financial literacy curriculum approved by the Texas State Board of Education. The program is funded primarily through a $250,000 gift from First Command Financial Services, Inc.

Financial education is always particularly important in during economic turmoil, which today is affecting high school students and their families across the country. The program's expansion efforts include developing a military-oriented version of the program to help service members and their families.

Because when military service members feel more financially secure, they can better focus on their mission of defending our nation.

A financial education program appears to have a positive effect. In a test jointly commissioned by the Foundation and First Command Financial Services, one in four test takers who had completed a financial literacy program answered all questions correctly. In contrast, just 17 percent who did not complete a financial literacy program earned a perfect score.


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