First Command Reports: Military Families Keep Halloween Spending in Check

The First Command Financial Behaviors Index® reveals majority of
middle-class military families expect to spend the same or less than
last year

FORT WORTH, Texas–(BUSINESS WIRE)–The spirit of frugality is alive and well in America’s career military
households this Halloween, according to the First Command Financial
Behaviors Index®.

First Command’s annual Halloween spending survey reveals that 74 percent
of middle-class military families (commissioned officers and senior NCOs
in pay grades E-5 and above with household incomes of at least $50,000)
who plan to celebrate Halloween will spend the same as or less than last
year.

The Index reveals that the majority of military families (54 percent)
expect to spend less than $100 on Halloween, statistically unchanged
from last year. Their top cost-saving methods for 2016 are:

• Purchasing less expensive candy (55 percent)
• Spending less on decorations (54 percent)
• Sticking to a set budget (43 percent)
• Giving out less candy to each child (35 percent)
• Reusing costumes from a previous year (34 percent)
• Making costumes rather than buying them (25 percent)
• Canceling their Halloween party (10 percent)

The Halloween spending trend is similar in the general population. Among
middle-class civilian families with household incomes of at least
$50,000, 64 percent are planning to spend the same as or less than in
2015. Seventy-nine percent expect to spend less than $100. That’s about
the same spending level as last year.

Halloween frugality in military families comes at a time of continuing
fears over how defense spending cuts will impact their household
finances. The Index reveals that concerns over sequestration prompted 42
percent of military families to cut back on everyday spending in
September. In contrast, just 35 percent of general population families
say they are cutting back.

“Concerns over sequestration and defense downsizing have been prompting
military families to cut back on everyday spending at a rate that
outpaces their civilian counterparts,” said Scott Spiker, CEO of First
Command Financial Services, Inc. “We see that same trend reflected in
our Thanksgiving survey results, which indicate that three out of four
families are planning a frugal holiday celebration. Frugality in both
holiday and everyday spending represent a justifiable approach to the
ongoing financial uncertainties facing career service members and their
families.”

About the First Command Financial Behaviors Index®

Compiled by Sentient Decision Science, Inc., the First Command Financial
Behaviors Index® assesses trends among the American public’s
financial behaviors, attitudes and intentions through a monthly survey
of approximately 530 U.S. consumers aged 25 to 70 with annual household
incomes of at least $50,000. Results are reported quarterly. The margin
of error is +/- 4.3 percent with a 95 percent level of confidence. http://www.firstcommand.com/fbi/

About Sentient Decision Science, Inc.

Sentient Decision Science was commissioned by First Command to compile
the Financial Behaviors Index®. SDS is a behavioral science and
consumer psychology consulting firm with special vertical expertise
within the financial services industry. SDS specializes in advanced
research methods and statistical analysis of behavioral and attitudinal
data.

About First Command

First Command Financial Services and its subsidiaries, including First
Command Advisory Services, First Command Bank and First Command
Financial Planning, assist American families in their efforts to build
wealth, reduce debt and pursue their lifetime financial goals and
dreams—focusing on consumer behavior as the first and most powerful
determinant of results. Through knowledgeable advice and coaching of the
financial behaviors conducive to success, First Command Financial
Advisors have built trustworthy, lasting relationships with hundreds of
thousands of client families since 1958.

First Command Financial Services, Inc., is the parent of First
Command Financial Planning, Inc. (Member SIPC,
FINRA),
First Command Advisory Services, Inc., First Command Insurance Services,
Inc. and First Command Bank. Financial planning services and investment
products, including securities, are offered by First Command Financial
Planning, Inc. , a broker-dealer. Financial planning and investment
advisory services are offered by First Command Advisory Services, Inc.,
an investment adviser. Insurance products and services are offered
by First Command Insurance Services, Inc., in all states except Montana,
where as required by law, insurance products and services are offered by
First Command Financial Services, Inc. (a separate Montana domestic
corporation). Banking products and services are offered by First Command
Bank. In certain states, as required by law, First Command Insurance
Services, Inc. does business as a separate domestic corporation.
Securities products are not FDIC insured, have no bank guarantee and may
lose value. A financial plan, by itself, cannot assure that retirement
or other financial goals will be met. First Command Financial Services,
Inc. and its related entities are not affiliated with, authorized to
sell or represent on behalf of or otherwise endorsed by any federal
employee benefits programs referenced, by the U.S. government, or the
U.S. armed forces.

Contacts

First Command Financial Services, Inc.
Mark Leach, 817-569-2419
Media
Relations
msleach@firstcommand.com