Financial stress, financial stability, and military spousal well-being

Abstract

Introduction: Not only do military families face similar financial stressors as civilian families, but they also face a number of unique financial stressors as a result of the military lifestyle. In this article, we explore factors that contribute to military spouses’ perceived financial stress and the effect of financial stability on military spouses’ psychological well-being and life satisfaction. Methods: The data sets used in the analyses include female civilian spouses of Canadian Armed Forces (CAF) Regular Force members who completed the Quality of Life (QOL) survey administered in 2009 ( N = 1,518) and 2013 ( N = 1,189). In Study 1, we conducted a series of analyses to assess whether CAF spouses’ socio-demographic and military lifestyle characteristics contribute to their perceived level of financial stress (2009 QOL data). In Study 2, we conducted a series of analyses to assess whether financial stress and stability contribute to CAF spouses’ well-being and life satisfaction (2009 and 2013 QOL data). Results: Results showed that socio-demographic and military lifestyle characteristics predicted military spouses’ financial stress and that more financial stress and less financial stability reduced their psychological well-being and life satisfaction. Discussion: These findings suggest that reducing military spouses’ financial stress and improving their financial stability may enhance their well-being.