From a Newspaper Article in Army Times

Many Military Families Struggle with Finances

“The stress factors with the families is just unbelievable,” said Roger J. Mealey, a Vietnam veteran who runs a website to aid struggling military families.

While laws give active-duty soldiers extra combat pay, provide housing allowances and exempt them from taxes, experts say, families are straining under multiple deployments, frequent relocations and the difficulty spouses have in getting and keeping jobs in new cities.

A 2010 military survey found that 27 percent of service members said they had more than $10,000 in credit card debt, while 16 percent of civilians do. The study also found more than a third of military families have trouble paying monthly bills, and more than 20 percent reported borrowing money outside of banks.

It’s not easy supporting four people on a staff sergeant’s salary — about $39,000 a year — especially when one member of the family keeps getting sent overseas, said Patrick Bellon, executive director of Veterans for Common Sense.

Read the full article with more explanation and descriptions: http://www.armytimes.com/news/2012/03/ap-many-military-families-struggle-with-finances-032512/ 

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