News : Financial Readiness

Our Troops Need Financial Ed, Not Financial Aid

Wednesday, February 11, 2015  
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Our Troops Need Financial Ed, Not Financial Aid

 

Military families are going broke not because they don’t have enough money, but because they don’t know how to manage what they have.

The military’s Family Subsistence Supplemental Allowance, or FSSA, sounds like a good deal. It certainly briefs well: extra money in the pockets of our lowest income military families. Who doesn’t want that?

FSSA began during the Clinton administration. A congressional pet project, the goal of FSSA was to reverse a sobering trend: 25,000 military families on food stamps.

There are still more than 20,000 military families on food stamps nearly 20 years later. That’s according to census data cited in the Military Compensation and Retirement Commission Report, released Thursday, Jan 29.


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