Possible Debt Problems of United States Soldiers (Essay Sample)

Possible Debt Problems of United States Soldiers Name Institutional Affiliation Possible Debt Problems of United States Soldiers The military is one of the departments that pick qualified volunteers who are ready to safeguard the country’s interest while at the same time maintaining law and order in the state. This requires absolute commitment and sacrifice to the job as one may require travelling from one state to another which is quite hectic. According to recent surveys by Veteransplus and Military Debt Management Agency, the military is a debt rich institution with most of their members in serious debt problems CITATION Sin10 \l 1033 (Singletary, 2010). Some of the possible causes of debt in the military are discussed below. Steady but low amount of pay Military is regarded as one of the best paying jobs in the United States. This is not the case, military members are assured of pay at the end of the month but it is not enough for them. They have to take care of their families and this place a huge financial burden that makes them borrow to meet the expenses CITATION Sam16 \l 1033 (Reeves, March 2nd, 2016). Frequent moving from place to place expenses Frequent travelling from place to place is quite expensive as prices of food and other things used for survival differ from state to state. One cannot budget for anything and thus ends up spending almost half of the salary on travelling. This is a possible source of debt in the military CITATION Sam16 \l 1033 (Reeves, March 2nd, 2016). Lack of proper financial planning skills Most military officers fall victim to this. They are unable to prioritize what is important and what they can do without. This leads to c...