Whether you are joining soon or have been serving for a while, enlisted or officer, the basics are the same.
Here are the ten things I recommend for someone looking to get their finances under control.
- Sign up with a reliable bank.
- Have a small emergency fund, 3-6 months of expenses.
- Budget and track your finances monthly, know your savings rate.
- Track your net wealth, it should go up every month.
- Know, control, and kill your debt.
- If you use a credit card, pay it off every month – no exceptions.
- Invest in the TSP.
- Invest in a Roth IRA.
- Consider opening a taxable investment account.
- Understand asset allocation.
These are the basics and this website goes into further detail about each of these points and more.