Military Families Spending Less This Holiday Season
Pioneer Services’ 2015 Holiday Survey Shows Uncertainty
November 24, 2015
The holidays are a time of family, friends, and fun. Far too often, however, they are followed by piles of debt and bills. But if a recent holiday study conducted by Pioneer Services, a division of MidCountry Bank, is any indication, military families might have less debt this year compared to last, and for various reasons.
In an online survey of more than 200 military members, 73% stated they will spend the same or less than last year. The reasons revolve around uncertainty about future income, increased costs in other areas, and loss of spouse pay, among others. On the bright side, 68% of respondents said they were going to pay cash this year instead of using credit. And of those, 30% have set money aside ahead of time.
“It’s good to see military families being smart and keeping their debt to a minimum this year,” said Allen Usry, retired U.S. Air Force Chief Master Sergeant, and military relations manager for Pioneer Services. “Survey results show service members like to shop early, prefer stores to online shopping, and will be traveling this holiday season.” Usry is the author of a blog on the 2015 holiday survey, which includes more results and a helpful infographic.