The Impact of Financial Resources on Soldiers ’ Well-Being

Abstract

The present study examined the impact of financial resources on soldiers ’ well-being. Using primary data gathered from a large Army installation in the Midwest, results suggested that soldiers with higher credit card debts and lower perceived net worth had lower levels of subjective well-being. Soldiers with greater perceived financial knowledge and larger emergency savings accounts had higher levels of subjective well-being. Results also indicated that automobile loan debt may play a small role in the subjective well-being of soldiers. Personal financial managers, financial planners, counselors, and other military service providers can use this knowledge to identify those whose subjective well-being might be or might become impaired by personal financial distress.

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