Posted on Dec 5, 2014
What is the best course of action for the extra money from a deployment?
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Soldiers (Officers/NCOs/Junior Enlisted) consistently blow large amounts of money when they get home from a deployment, because they think they owe it to themselves. I have my ideas on what to do/not do with the extra money from deployments, but I would like more ideas to share with the soldiers that I am currently deployed with.
Posted 11 y ago
Responses: 7
Bank or invest most of it, LTC (Join to see), then go out and have a good time or buy yourself that big screen TV you've been wanting with what's left over. You'll be glad you did!
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Enotions speak oftentimes more than logic upon returning from deployment. Unless one takes his time before returning, sets aside a sum that he will spend without regret, the binge-spending will continue.
I was tempted to do the same after my first deployment, but glad that I conducted a self-assessment on pre-setting my limits on concert and a restaurant and that's it while watching my counterparts blow it all away
I was tempted to do the same after my first deployment, but glad that I conducted a self-assessment on pre-setting my limits on concert and a restaurant and that's it while watching my counterparts blow it all away
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Save/invest it for after they ETS. It will ease the transition if they have something to fall back on, I know it did for me.
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I payed down debt to zero. i wish i would of taken what was left to build a savings and invest. the dumbest thing i did was buy a ton of fishing equipment great at the time but now i dont fish as much.
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I try my best to in courage Soldiers not spend it all once they return but to save and invest after paying off any debt. I also tell them to use some of the money they received to take a small trip for themselves or they're family.
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I retired shortly after my deployment to Afghanistan and a good chunk of the money was put to good use (IMHO) as a down payment for our home.
Bottom line is to set financial goals and have a plan to get there. Everyones situation is different.
Bottom line is to set financial goals and have a plan to get there. Everyones situation is different.
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SFC Joe S. Davis Jr., MSM, DSL
The extra money I saved from Iraq was to pay off bills and save for a down payment on my house. for Its always good for that dream vacation or special event.
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simply having a plan is the best way to prepare to for large sums of money. You can plan to blow some of it as you may feel you are entitled to it but knowing your limits will save you in the long run. Staying the course will result in wealth and not "I don't know what I did with all that money" after you are broke 2 months after you get back.
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