Survey: Military Families Conducting Financial Checkups
March 27, 2026
FORT WORTH, Texas — Many military service members are taking a proactive approach to reviewing their financial health, according to new research from First Command Financial Services.
A recent survey from the First Command Financial Behaviors Index found that 95% of active-duty service members conducted a financial review within the past six months, focusing on budgeting, debt reduction, savings, insurance coverage and retirement planning.
The findings suggest that military families are using structured financial checkups to make informed decisions about spending, saving and long-term financial security.
Key Findings from the 2026 Military Financial Checkup Survey
According to the survey:
- 41% reviewed their monthly budget or spending
- 37% reviewed or paid down debt
- 35% reviewed insurance coverage
- 33% increased or adjusted savings
- 32% reviewed retirement accounts or investments
- 30% used an online checklist or financial planning tool
- 29% met with a financial professional or coach
- Only 5% reported doing no financial checkup in the past six months
The results show that military families are actively engaging with their finances and seeking ways to strengthen their financial readiness.
Financial Reviews Are Widely Seen as Helpful
Among respondents who conducted a financial review, many said the process was very helpful or extremely helpful, particularly when working with a financial professional.
Professional Perspective
“Military families face unique financial challenges, including frequent moves, deployments and career transitions,” said First Command President/CEO Mark Steffe. “Taking time to conduct a financial checkup helps service members ensure they’re on track with their goals and prepared for the unexpected.”
Why Military Families Conduct Financial Checkups
Financial reviews can help service members:
- Evaluate spending habits and household budgets
- Reduce high-interest debt
- Build emergency savings
- Review insurance coverage for family protection
- Stay on track with retirement planning
- Adjust financial strategies following pay raises or promotions
For many military households, these reviews are especially important during periods of economic change or increases in military compensation.
Military Pay Raises Often Trigger Financial Planning
Annual pay raises often prompt service members to revisit their financial plans. A financial checkup allows them to decide whether to:
- Increase retirement contributions
- Accelerate debt repayment
- Expand emergency savings
- Adjust insurance or investment strategies
Financial professionals say that reviewing finances during these moments can help families turn income increases into long-term financial progress.
Frequently Asked Questions about Military Financial Checkups
What is a financial checkup?
A financial checkup is a periodic review of spending, savings, debt, insurance and investments to ensure a household is on track to pursue its financial goals.
Why are financial checkups important for military families?
Military households often face career moves, deployments and changes in compensation. Regular financial reviews can help maintain financial stability during these transitions.
How often should military families review their finances?
Many financial professionals recommend reviewing finances at least once or twice per year, or after major life events such as promotions, deployments or relocations.