Military Families Feel the Pressure as Debt Crisis Worsens

A recent article in the Washington Post discussed the debt crisis as it affects military families. Three military families whose debt is out of control received a much needed debt boot camp, properly titled Color of Money Military Challenge. The program requires families to come clean about their financial situations and in return, they receive help to ease their financial burdens. This year, three families volunteered to be a part of the counseling boot camp.

Each family is a prime portrayal of the average family afflicted with bad debt. They have racked up thousands and thousands of dollars in debt, their savings accounts are empty or low and one family fell victim to the housing slump, getting stuck with a mortgage they can neither afford nor escape. These families are prime candidates for the boot camp because they have already decided to reign in their debt and finally get a grasp on their finances.

By committing to pay off their credit card debt and living a little more frugally, these families have risen from the trenches of debt that dragged them downward. One family began the challenge with $27,600 in credit card debt. They currently have $6,500 left. Another began with over $30,000 in credit debt. They now have just $1,000 left to pay off. offers the most up-to-date military finance articles on the web. We constantly update our information to include the most relevant military news. As such, we will happily post your press releases, newsletters, professional conferences and more to increase visibility. There is something for everyone on Everything here is free to users. From our extensive job board to our virtual job fair, we offer a multitude of resources for military and veteran job seekers. Surf our directory of employers that consists of over 30,000 employers, read the latest job tips and columns written by job experts or post a job yourself by signing up as an employer. Along with career and finance articles, offers a great amount of informational resources on education benefits for military members, veterans and their families, like the Post 9/11 GI Bill. Check out our scholarship directory for the latest scholarship opportunities available to military and veterans. For all your military needs, visit, your “go-to” site for everything military.