Examining the financial stability of UK military families: An exploratory analysis

Format:

Book

Author/Creator:

Slapakova, Linda

Contributor:

Huxtable, Luke

Thue, Kristin

Language:

English

Other Title:

Examining the financial stability of UK military families

Place of Publication:

RAND Corporation 2023

Summary:

The particular demands and nature of life in the Armed Forces, such as high levels of mobility, may contribute to financial difficulties or reduced financial stability for some personnel and their partners. This can negatively impact the quality of life of military families, affect the mental wellbeing of personnel and their partners, and reduce the likelihood of a successful transition to civilian life. However, there is a lack of research, particularly in the UK, on the potential extent of financial instability among current and former Service personnel and their partners as well as how the unique characteristics of Service life contribute to it. This study aimed to fill this gap by exploring levels and drivers of financial stability among military families in the UK and the extent to which characteristics of Service life can play a positive or negative role. It also examined the scope of existing finance-related support and proposed recommendations to improve policy and support provision. Rather than empirically measuring levels of financial stability and the impact of Service-related factors, the study provided initial exploratory analysis as an basis for a broader research agenda on the financial stability, resilience and wellbeing of the UK Armed Forces Community.