Military Personnel: More DOD Actions Needed to Address Servicemembers' Personal Financial Management Issues

Abstract

Why GAO Did This Study. Congress and the Department of Defense (DOD) are concerned about the financial conditions of servicemembers and their families, particularly in light of recent deployments to Iraq and Afghanistan. Serious financial issues can negatively affect unit readiness. According to DOD, servicemembers with severe financial problems risk losing security clearances, incurring administrative or criminal penalties or, in some cases, face discharge. Despite increases in compensation and DOD programs on personal financial management (PFM), studies show that servicemembers, particularly junior enlisted personnel, continue to report financial difficulties.

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Document Details

Document Type
Technical Report
Publication Date
Apr 01, 2005
Accession Number
AD1157379

Entities

People

  • Alissa H. Czyz
  • Allen D. Westheimer
  • Brian D. Pegram
  • David A. Mayfield
  • Gregg J. Iii Justice
  • Jack E. Edwards
  • Leslie C. Bharadwaja
  • Marion A. Gatling
  • Minette D. Richardson
  • Terry L. Richardson

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Air Force
  • Department Of Defense
  • Enlisted Personnel
  • Families (Human)
  • Financial Management
  • Governments
  • Law
  • Management Personnel
  • Management Training
  • Military Personnel
  • Military Training
  • Money
  • National Governments
  • National Security
  • Personnel Management
  • Training
  • United States

Readers

  • Defense Financial Management and Audit.
  • Economics
  • Naval Personnel Management