Examining the financial stability of UK military families: An Exploratory Analysis

Abstract: Existing national and international research posits that Armed Forces personnel have relatively higher incomes than people in civilian occupations and benefit financially from a comprehensive set of incentives provided by the military employment Offer. Service personnel and their partners also have access to benefits and support from the Armed Forces Community, which is perceived to enhance military families’ financial stability. However, the unique demands and nature of Service life, such as high mobility levels, may contribute to financial instability for some military families. These dynamics have thus far not been explored in existing research. This study therefore aimed to explore the financial stability of military families in the United Kingdom (UK). The study’s objectives were twofold: 1. Understand military families’ financial (in)stability and how much Service-life characteristics can positively or negatively contribute to it. 2. Explore existing finance-related support mechanisms and propose recommendations to improve policy and support provision. Rather than empirically measuring financial stability levels and the impact of Service-related factors, the study provided an initial exploratory analysis of the prevalence and drivers of financial (in)stability. It thereby aimed to provide a foundation for a broader research agenda on the UK Armed Forces Community’s financial stability, resilience and well-being.