Do THIS to Save Your First $10,000 In The Military

[@joeynguyen]

If you're reading this, I hope you reach your goal :) Open up a SoFi high-yield savings account and get up to $325 when you set up direct deposit: www.sofi.com/invite/money?gcp=a7cd4939-962a-4e74-b3a5-cb42d593b1ee&isAliasGcp=false 💰 Get $20 to start saving or investing with Acorns: www.acorns.com/joey/

[@dr.h_gibby3158]

I’m a Lcpl with barley over a year in the marine corps and I have 13k saved up all from just the marine corps alone. I did the math. If your a Lcpl with BAS you usually end up with around 1k per paycheck. That’s roughly 24k a year. you only spend 300$ per paycheck at the very most, you can save 16,800 a year. If you have a car (and if it’s a really bad a new one with a payment) that automatically takes away around at least 600 a month after the payment, insurance, and gas. That’s your monthly budget gone already if you as strict as I am. Even if you don’t get BAS you can still easily save 10k a year and get out with 40k on a 4 year contract. And that doesn’t even include extra money from per diem if you go on detachments. Keep in mind this is all with 10% of my paycheck going to TSP so when I get out and pull it out there’s no reason I should have any less than 60k. Of course there’s some costly things I want to save up for but as I mentioned I can easily save 16,800 a year. I only intend on saving 10k if that. That means I can have $6,800 of treating myself. That also doesn’t include Tax returns. I’m from California so tax returns are pretty good. Around 500$ usually so let’s round that to $7,200 of treating myself and the end of my saving year (which is the day I starting seriously budgeting).

[@joeynguyen]

Nice! Do you plan on staying in? I always believed my money was more useful in other investments compared to the TSP

[@dr.h_gibby3158]

@@joeynguyen I don’t plan on staying in. At home I live close to a nearby airforce base which is constantly hiring aircraft engine mechs which is literally my job for 48$ a hour starting. And I intend on purchasing a household when I get out with a family member. I thinks it’s also worth mentioning that I have a credit score of 757 last time I checked

[@dr.h_gibby3158]

@@joeynguyen and this airforce base is in a area which isn’t as population dense as most areas so they are probably lacking the individuals with the security clearance, base access, experience, and leadership they need.

[@davidwarner3326]

When I was in, I took all of my monthly bills that were constant (rent, cell phone, etc.), and set up an allotment for half that total to go into a separate account where the bills were then automatically paid from each month. I do the same thing now with a high yield account and add more for savings. For me, out of sight and out of mind helps the hesitation to transfer money later, even if that's automatic.

[@christofvilla]

This is very informative. Great job man!

[@Hansolo-h8g]

Happy new year and thank you for your service

[@joeynguyen]

Happy new year!

[@prescottosegie]

Happy New Year 🎉 joey I appreciate the info on saving 10k in the military i definitely took notes 📓

[@joeynguyen]

Happy New Year!

[@AdamFigueroaSD]

this guy kills!

[@gyatt-jn4zl]

can you make a video on what your portfolio looks like for your investments (with etfs and individual stocks) if you are ok with that? great video as always

[@matthewwhittington-jk9ep]

Saving 10k miltary

[@Ruggedtrail]

First 😂