Advertisement

You will be redirected to the page you want to view in  seconds.

Military families say they will curtail Thanksgiving

Oct. 30, 2013 - 05:22PM   |  
Commissary vendors pass out free turkeys Nov. 15, 2012, during a turkey giveaway at Naval Outlying Land Field (NOLF) Imperial Beach. About two-thirds of middle-class military families plan to scale back their Thanksgiving celebrations this year out of economic concerns, according to a survey by First Command Financial Services.
Commissary vendors pass out free turkeys Nov. 15, 2012, during a turkey giveaway at Naval Outlying Land Field (NOLF) Imperial Beach. About two-thirds of middle-class military families plan to scale back their Thanksgiving celebrations this year out of economic concerns, according to a survey by First Command Financial Services. (MCS Seaman Karolina A. Martinez / Navy)
  • Filed Under

About two out of three middle-class military families plan to scale back their Thanksgiving celebrations this year out of economic concerns, according to a survey by a corporation that assists troops with financial planning.

The survey by Texas-based First Command Financial Services tracked this response from 62 percent of commissioned officers and non-commissioned officers at staff sergeant rank and higher — a nine-point increase over a similar poll last year.

A battery of economic threats for the military have emerged this year including the recent government shutdown, debates over raising the debt ceiling, cutbacks known as sequestration and plans to downsize the military.

The families cited several ways of being more frugal this year. Some 29 percent vowed to reduce traveling, 23 percent would stick to a set budget and 22 percent said they would spend less on food.

“We have seen a drop in feelings of financial security month to month and a drop in confidence in the ability to retire comfortably,” says Scott Spiker, First Command CEO.

The survey results were derived from a September canvassing of 530 U.S. consumers, ages 25 to 70, with annual household incomes of $50,000 or more. Among them were 200 military families.

The results have a margin of error of plus or minus 4.3 percent, according to First Command.

Answers by RallyPoint

Join trending discussions in the military's #1 professional community. See what members like yourself have to say from across the DoD.

More In News

Start your day with a roundup of top defense news.

VA Home Loan
Rates

Search By:

Product Options:
Zip Code:

News for your in-box

Sign up now for free Military Times E-Reports. Choose from Money and Education. Subscribers: log in for premium e-newsletters.


This Week's Army Times

This Week's Army Times

CrossFit vs. unit PT
Troops will do the training plans in a $2.5 million study

Subscribe for Print or Digital delivery today!

Classifieds
MilitaryTimes Green Trusted Classifieds Looking to buy, sell and connect on Military Times?
Browse expanded listings across hundreds of military installations.
Faces of valorHonoring those who fought and died in Operations Iraqi Freedom and Enduring Freedom.
hall of valorThe Hall of Valor is a searchable database of valor award citations collected by Doug Sterner, a Vietnam veteran and Military Times contributing editor, and by Military Times staff.
Woman who cried rape
(3 replies)
   Last Post: TJMAC77SP
        May 3, 2014 1:32 PM
   Last Post: garhkal
        May 1, 2014 5:03 PM
Cliven Bundy
(45 replies)
   Last Post: Chief_KO
        Apr 26, 2014 9:49 AM
Handbooks

All you need to know about your military benefits.

Benefits handbook

Guard & Reserve All you need to know about the Guard & Reserve.

guard and reserve handbook