Improving Officers’ Lives Through Teaching of Basic Financial Concepts

Date

2022-06

Authors

Nosic, Vedran

Journal Title

Journal ISSN

Volume Title

Publisher

Law Enforcement Management Institute of Texas (LEMIT)

Abstract

Financial problems can negatively affect a person’s life. This is particularly true for law enforcement officers. Many law enforcement officers face dangers daily. This includes arresting violent criminals, driving quickly, facing civil unrest, and many others. However, there is one danger which officers often ignore. Making financial mistakes is a danger which can negatively affect officers and their families. Officers who mismanage their finances may deal with numerous problems including job burnout, early mortality rates, an increased chance of divorce, and an increase in mental health problems. Improving officers’ lives through teaching of basic financial concepts is a responsibility of leaders in the law enforcement field. Officers who are financially secure report higher rates of job satisfaction (Miller, 2020) can afford to retire (Pieper, 2018), decrease their chance of divorce (Ramsey, 2018), and reduce their risk of suicide (Cohut, 2020). Law enforcement agencies who teach basic financial concepts such as budgeting, eliminating debt, and investing, can positively influence their officer’s lives. Therefore, law enforcement agencies should teach basic financial concepts to officers within their organization.

Description

Keywords

Finance--Personal

Citation

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