More than half of Americans think inflation hits military families harder than civilians, survey finds [Video]

(InvestigateTV) — In their 2023 annual report, The Federal Trade Commission (FTC) reported that enlisted members experienced a median loss of $500 to scammers, a hardship for many military families.

Chip Lupo, a writer and analyst for WalletHub, led a recent survey that found military families want more financial security.

“Financial literacy is one of these things, it’s a nationwide problem! But it is particularly pervasive in the military,” Lupo noted.

The survey also reported that 56% of Americans believe inflation is affecting military families more severely than civilians.

Lupo said military pay raises over the past three years have barely kept up with inflation.

“I think any time you’re worried about things such as car payments, credit cards, other expenses, that can be a distraction no matter what your line of work is,” he said. “So, if you’re in the military, I mean, those could only contribute to your anxiety and could have a mental effect and negative effect on your …