What was the smartest thing you did with your extra money you made while on deployment?

2014-04-23T16:03:38-04:00

Response by SGT Ben Keen made Apr 23 at 2014 4:05 PM

2014-04-23T16:05:11-04:00

Purchased my first car. Sure it could have gone to better things but I was young at the time and needed a better car.

Response by SGT James Elphick made Apr 23 at 2014 4:08 PM

2014-04-23T16:08:29-04:00

Bought a car and paid for school, I saved my deployment money until after I got out for the most part. That money really helped when using the MGIB before the switch to post-9/11.

Response by CPT Zachary Brooks made Apr 23 at 2014 4:24 PM

2014-04-23T16:24:23-04:00

I have not been deployed yet, but we might have one next summer (hoping it happens). I plan to invest the money while I am gone and let it grow, then come back and use that as well as the difference when I sell my current house to move to a better neighborhood.

Want to start a family with a good neighborhood and schools.

Response by MSG Wade Huffman made Apr 23 at 2014 4:34 PM

2014-04-23T16:34:28-04:00

I retired shortly after my deployment, the extra money helped in a good down payment for a house and for allowing a smooth transition; not a small task since I retired from Italy!

Response by GySgt Private RallyPoint Member made Apr 23 at 2014 6:44 PM

2014-04-23T18:44:44-04:00

Did everything I ever wanted, bought everything I ever wanted, have everything I need. Leftovers are in investments for retirement.

Response by MAJ Private RallyPoint Member made Apr 23 at 2014 6:50 PM

2014-04-23T18:50:47-04:00

Paid off everthing I owed on the first deployment and the next two I invested heavily in retirement and my childrens college education.

Response by CPT Private RallyPoint Member made Apr 23 at 2014 7:55 PM

2014-04-23T19:55:50-04:00

401k

Response by SSG Private RallyPoint Member made Apr 23 at 2014 9:12 PM

2014-04-23T21:12:11-04:00

I am retiring debt free, no credit card balances, 2 cars paid off 1yr before the loan was due, money saved, lived within our means, not spending money we don't have, budget for a pizza/wings or movie night (and also partially due to Dave Ramsey budgeting tips).

Will bank my retirement pay/disability pay, may have a shot at this job thats 20-32 hr week and go to school on my Post 9/11. Life is good thanks to that extra money from deployment.

Response by CH (CPT) Heather Davis made Apr 23 at 2014 9:20 PM

2014-04-23T21:20:48-04:00

MAJ Sheridan:

I took the money and invested it in my education, I was able to obtain my third Masters. I had to go to two Colleges at the same time to obtain my 90hr degree to become a Chaplain in two years.

V/R

CH (CPT) Davis

Response by SGT Private RallyPoint Member made Apr 23 at 2014 11:08 PM

2014-04-23T23:08:50-04:00

MAJ Sheridan,

One of my former NCOs used his extra money to buy $5,000 worth of a $0.05 stock. That stock is now worth $1.30. I would say that was a smart way to use some extra money.

Response by CMC Robert Young made Apr 23 at 2014 11:20 PM

2014-04-23T23:20:59-04:00

Dumped into my TSP for retirement.

Response by SFC Toby Reid made Apr 24 at 2014 4:08 AM

2014-04-24T04:08:39-04:00

Blew it all on a trip for my wife and 5 kids to Disney World. Yeah you might think that this was not a very smart money management move. But who cares, my wife and kids was a little stressed out dealing with me not being home for deployments every other year. The American dream isn't a great career and awesome retirement plan, it's the persuit of happiness. My value is in the stability, walfare and happiness of my home. The army is a career, and I will leave it behind one day, My family is mine and I will never leave them.

Response by COL Vincent Stoneking made Apr 24 at 2014 9:41 AM

2014-04-24T09:41:29-04:00

I would say that it WASN'T buying a whole bunch of Blockbuster stock! Though I guess I did learn something from that experience.

In all seriousness, I started the deployment fairly deep in debt. I ended it completely out of debt, other than my mortgage, with a fair amount of money in retirement accounts and otherwise invested.

Response by SSG Private RallyPoint Member made Apr 24 at 2014 10:37 AM

2014-04-24T10:37:43-04:00

I have been living completely debt free, minus a mortgage since my deployment. Paid off two cars, any student loans my wife had, and any revolving debt. Built up a 6 month emergency fund. Second deployment coming up and we plan to both invest in Roth IRA's and to build a college fund for both our children.

Response by Lt Col Private RallyPoint Member made Sep 14 at 2014 9:36 PM

2014-09-14T21:36:17-04:00

Pay off college debt and the car that I bought when I was a 2Lt. Then I saved for a house but that backfired on me because I bought before the crash and essentially flushed it all away. Luckily saving for the property I had a low mortgage payment and was able to save a bunch before getting off active duty which I have put into a video production business.

Response by MAJ Ken Landgren made Sep 10 at 2015 2:08 PM

2015-09-10T14:08:38-04:00

I gave $10,000 to the FIL who was struggling medically and financially. I never saw a dime in return though.

Response by TSgt Kevin Buccola made Sep 10 at 2015 2:10 PM

2015-09-10T14:10:38-04:00

invested 75% in the market and then had a welcome back party

Response by SGT William Howell made Feb 17 at 2016 9:54 AM

2016-02-17T09:54:35-05:00

I used the money that I had been saving up for my cheating ass girlfriend's engagement ring and put it down a Porsche 911. It helped me to get a better girlfriend with much better....ah...class.

Response by LTC Jason Mackay made Jan 4 at 2019 5:53 PM

2019-01-04T17:53:30-05:00

Paid down debt, 529 maxed out, short term investments/ready savings

Response by MAJ Raúl Rovira made Jan 4 at 2019 11:51 PM

2019-01-04T23:51:12-05:00

Not quite a deployment. When I was assigned to a diplomatic duty in Cairo, Egypt, I was fortunate to do 14 US Navy vessel escort across the Suez Canal and a portion of the Red Sea. I took the Tax savings and paid for a second masters degree.

Since CMU grants 15 graduate credits/5 classes towards a masters degree, the rest was financed by the Suez Canal/Red Sea travels.

Response by CH (MAJ) Tom Conner made Jan 5 at 2019 1:06 AM

2019-01-05T01:06:13-05:00

Between the two of them, I was able to become completely debt-free! Which I have to tip my hat to my wife since she was the one diving up the money back home! It was a wiser move than we even realized until I was med-boarded out of the Army after coming home with severe back injuries!

Response by SP5 Dennis Dorsey made Jan 5 at 2019 11:25 AM

2019-01-05T11:25:26-05:00

Bought savings bonds to save for the future. Cashed them in and bought my first house after I got out. (do they even still have those things)

Response by MAJ Matthew Arnold made Jan 5 at 2019 3:20 PM

2019-01-05T15:20:14-05:00

Paid off all our debts except the house.