College students and military populations can have many similar yet very different characteristics related to their financial lives. Using social learning theory, this study examined factors that influence financial behavior outcomes of both populations using primary data. Findings indicate past behaviors and some personal factors play a significant role in financial behaviors. The most explanatory concept was that of past behaviors, which revealed those respondents with no credit card debt had better financial behaviors than respondents with credit card debt. Soldiers and college students with higher levels of subjective financial knowledge, higher feelings of self-mastery, and lower financial anxiety reported more positive financial behaviors. These findings underscore that college students and soldiers are struggling with similar financial issues despite differences in their lives. This research has implications for financial planners and service providers to understand a client's past behaviors and personal factors in order to provide better financial advice and recommendations.