FORT WORTH, Texas--(BUSINESS WIRE)--
A shift in financial attitudes is taking place between middle-class
military families and their civilian counterparts, with growing concerns
over sequestration motivating servicemembers to stick to their frugal
ways even as the improving economy is inspiring some members of the
general population to warm up to spending. First Command Financial
Services, Inc. is offering an in-depth look at these changing attitudes
in the Summer 2014 issue of Journey, the online magazine for
First Command clients.
Free Spirits. These consumers may save money, but they believe
in spending that money too – on vacations, consumer purchases and
activities that add value to their life and help them enjoy the
present. Free Spirits are becoming less common in the military and
slightly more common in the general population. The annual results for
2013 show that Free Spirits made up 26 percent of military households
and 30 percent of the general population. In 2011 and 2012, the two
populations were holding at just under 30 percent.
Foul Weather Frugals. Members of this segment have embraced
cutbacks and frugality for now, but may revert back to old,
spendthrift behaviors once the economy is back on its feet. For 2013,
military families made up 22 percent and the general population was 23
Scared Straight. These Americans have been “scared straight”
after seeing the effects of the recession on their finances. Their
main concern is paying off debts and managing their monthly bills.
Scared Straights are becoming more common in the military and less
common in the general population. For 2013, military families made up
33 percent and the general population was 29 percent. The two
populations were both 31 percent the previous year.
True Frugals. They have embraced frugality as a lifestyle. They
have always made prudent financial choices, and would do so whether or
not the country is in a recession. For 2013, military families made up
19 percent and the general population was 18 percent.
Stick With Frugal Ways As Other Americans Warm Up To Spending,” the
story explores changing consumer views on spending and saving through
four distinct consumer segments first identified in 2009 as part of the
First Command Financial Behaviors Index®. The four segments are:
Be sure to check out this story and the entire Summer issue at http://fcjourney.com/.
About the First Command Financial Behaviors Index®
Compiled by Sentient Decision Science, Inc., the First Command Financial
Behaviors Index® assesses trends among the American public’s
financial behaviors, attitudes and intentions through a monthly survey
of approximately 530 U.S. consumers aged 25 to 70 with annual household
incomes of at least $50,000. Results are reported quarterly. The margin
of error is +/- 4.3 percent with a 95 percent level of confidence. www.firstcommand.com/research
About Sentient Decision Science, Inc.
Sentient Decision Science was commissioned by First Command to compile
the Financial Behaviors Index®. SDS is a behavioral science and
consumer psychology consulting firm with special vertical expertise
within the financial services industry. SDS specializes in advanced
research methods and statistical analysis of behavioral and attitudinal
About First Command
First Command Financial Services and its subsidiaries, including First
Command Bank and First Command Financial Planning, assist American
families in their efforts to build wealth, reduce debt and pursue their
lifetime financial goals and dreams—focusing on consumer behavior as the
first and most powerful determinant of results. Through knowledgeable
advice and coaching of the financial behaviors conducive to success,
First Command Financial Advisors have built trustworthy, lasting
relationships with hundreds of thousands of client families since 1958.
First Command Financial Services, Inc., is the parent of First
Command Financial Planning, Inc. (Member SIPC,
First Command Insurance Services, Inc. and First Command Bank. Financial
planning services and investment products, including securities, are
offered by First Command Financial Planning, Inc.Insurance products
and services are offered by First Command Insurance Services, Inc., in
all states except Montana, where as required by law, insurance products
and services are offered by First Command Financial Services, Inc. (a
separate Montana domestic corporation). Banking products and services
are offered by First Command Bank. In certain states, as required by
law, First Command Insurance Services, Inc. does business as a separate
domestic corporation. Securities products are not FDIC insured, have no
bank guarantee and may lose value. A financial plan, by itself, cannot
assure that retirement or other financial goals will be met. First
Command Educational Foundation is a 501(c)(3) public charity. It is not
affiliated with First Command Financial Services, Inc., or any of its
First Command Financial Services, Inc.
Mark Leach, 817-569-2419
Source: First Command Financial Services, Inc.