Financial advice for a young recruit with no financial experience?
I'm currently in DEP waiting for my recruiter to notify me if I got a job. I’m 19 and honestly have no financial experience at all. I don’t even have any cards yet.
I’m only planning to do one 4-year contract. I don’t plan on getting married while in, and joining was mainly my priority because I know it’ll help me long term. I also grew up with parents who weren’t financially responsible, so I’m trying to learn as much as possible now and avoid making the same mistakes.
I already know the common advice like:
- don’t buy an expensive car
- use Tuition Assistance while in
- use the GI Bill after
- save money while living in the dorms, etc.
But I’d really appreciate more detailed advice, especially about:
- building credit
- investing
- TSP/retirement
- savings
- budgeting
- mistakes to avoid as a young enlisted member (since I have zero financial experience and guidance)
Basically anything you wish someone told you at 19 before joining. TIA