Hello, I have a few questions about finance and what I should do. For reference, I just graduated BCT and I’m 18, so I know basically nothing. I’m an E-3 and just wanted to get some help/thoughts on what to do with my finances.
First: I currently bank with Redstone Federal (local bank) but I’ve been thinking about switching or atleast opening an account with Navy Federal. Just not sure what exactly they offer, but I know a lot of people use them.
I don’t have any debt or even a credit card.
Breakdown:
Pre-Tax Pay: 2,377 per month
Checking: Since I just got out of basic, I have no idea how much I’ll be spending per month, but I’m normally very frugal so I’d expect to spend $400 or less a month.
Savings: Right now, pretty much whatever I have left over is what I put into it.
Retirement/TSP: Just switched my TSP to have 5% going into Roth TSP since I’ve been told it’s better, but I know the match won’t kick in until a year or two of service. Effective date won’t be for another month though. I have NO IDEA which funds to look at or pick for the TSP to be invested into though.
To be honest, my finances are pretty much whatever I make. I don’t normally go out or like to eat out and I very closely monitor what I spend. I haven’t had any financial classes or anything so I’m pretty unaware of where to go from here or what to do.
Just trying to get an idea.
Thanks!
Posted by Asylum36