Military Millennials Feeling Secure But Want More - Other News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Military Millennials Feeling Secure But Want More

Military Millennials Feeling Secure But Want More

Military Millennials Feeling Secure But Want More
The content is accurate at the time of publication and is subject to change.

Young people in the military are feeling confident that they will reach their financial goals over the next five years, but even with that they want to up their level of financial literacy to make sure they get where they want to go moneywise, according to a new study.

The Navy Federal Military Millennials and Their Money survey, looked at how servicemen and women are feeling about their financial health, as well as how good they are at tracking and managing their expenses and money.

Overall they are happy and satisfied and rather self-assured when it comes to their financial picture, including their level of savings and their ability to handle a financial emergency.

Yet the study found that education is still on their minds and rightfully so, finding that the financial literacy of military Millennials and the general population were down between 2014 and 2015.

“The bottom line as it pertains to education is the majority of Millennials feel like they don’t know enough about how to manage their finances to meet their financial goals,” said Marcia Sanford, vice president of member research, intelligence and development at Navy Federal. “Their optimism for the future and eagerness for education create an opportunity for Navy Federal to make a really positive impact on the financial lives of millions of young military families.”

Digital resources are trending with Millennials

When it comes to educating themselves serviced men and women, like their non-military counterparts, are all about going the digital route when it comes to boning up on finances.

Yet even with that the study dug a little deeper to find out how they get their information and educate themselves, finding that:

• 73% actually like looking for information on their own when considering a financial decision
• 58% go to a professional for financial advice
• 56% check out digital finance resources they trust

Making cents of things

The desire military Millennials have for more education has led to the credit union creating a program just for them called MakingCents. With this program people can explore the financial “track” they select in depth. It takes them through the process in a step-by-step manner, whether that’s buying a car, home, or getting their first credit card.

MakingCents gives them financial data in everyday language in order to streamline the process and make concepts easier to digest so they can manage their their finances and credit more effectively.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Synchrony Financial Inking a Deal with P.C. Richard & Son
Synchrony Financial Inking a Deal with P.C. Richard & Son

Posted: February 10, 2016

Financing computers, entertainment systems and other kinds of electronics is a priority for many Americans, and in keeping with this trend P.C. Richard & Son has signed a multi-year credit card extension with Synchrony Financial. Continue reading
MasterCard is Going Biometric with Corporate Cards
MasterCard is Going Biometric with Corporate Cards

Posted: April 12, 2016

Back to the future is here or at least it is when it comes to corporate credit cards, with MasterCard teaming up with BMO Financial Group to roll out the first biometric corporate credit card program. Continue reading
Synchrony Financial and Ashley HomeStores Renew Partnership
Synchrony Financial and Ashley HomeStores Renew Partnership

Posted: July 28, 2016

Having partnered up in 2011 to begin offering Ashley HomeStores customers ways to finance their home furniture purchases, Synchrony Financial has signed on to continued issuing The Ashley Advantage Credit Card. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, and more up to the quarterly maximum, each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles. That's $600 towards travel!
For Excellent, Good Credit
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay
For Excellent, Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!