Register | Login
United States Coast Guard Forums and Information
The World's Premiere Source for United States Coast Guard. Information and resources about the USCG, rules, regulations, policy, pay, jobs, forms, pay, locations, and more. auxiliary,faq,facts,manuals,boating rules,boating regulations,boating safety,inflatable boats, scuba diving,boating magazines,travel,boats,boat talk,boaters,boats for sale,boating information,survey,yacht,cruising,cruiser,sea,ocean,tide,current,weather,marine,ships,inflatables,fishing,fisherman,cutter,boat navigation,wind,chart,navigator,powerboat,sailboat,sailing,opinion The World's Premiere Source for United States Coast Guard. Information and resources about the USCG, rules, regulations, policy, pay, jobs, forms, pay, locations, and more. auxiliary,faq,facts,manuals,boating rules,boating regulations,boating safety,inflatable boats, scuba diving,boating magazines,travel,boats,boat talk,boaters,boats for sale,boating information,survey,yacht,cruising,cruiser,sea,ocean,tide,current,weather,marine,ships,inflatables,fishing,fisherman,cutter,boat navigation,wind,chart,navigator,powerboat,sailboat,sailing,opinion The World's Premiere Source for United States Coast Guard. Information and resources about the USCG, rules, regulations, policy, pay, jobs, forms, pay, locations, and more. auxiliary,faq,facts,manuals,boating rules,boating regulations,boating safety,inflatable boats, scuba diving,boating magazines,travel,boats,boat talk,boaters,boats for sale,boating information,survey,yacht,cruising,cruiser,sea,ocean,tide,current,weather,marine,ships,inflatables,fishing,fisherman,cutter,boat navigation,wind,chart,navigator,powerboat,sailboat,sailing,opinion The World's Premiere Source for United States Coast Guard. Information and resources about the USCG, rules, regulations, policy, pay, jobs, forms, pay, locations, and more. auxiliary,faq,facts,manuals,boating rules,boating regulations,boating safety,,inflatable boats, scuba diving,boating magazines,travel,boats,boat talk,boaters,boats for sale,boating information,survey,yacht,cruising,cruiser,sea,ocean,tide,current,weather,marine,ships,inflatables,fishing,fisherman,cutter,boat navigation,wind,chart,navigator,powerboat,sailboat,sailing,opinion The World's Premiere Source for United States Coast Guard. Information and resources about the USCG, rules, regulations, policy, pay, jobs, forms, pay, locations, and more. auxiliary,faq,facts,manuals,boating rules,boating regulations,boating safety,,inflatable boats, scuba diving,boating magazines,travel,boats,boat talk,boaters,boats for sale,boating information,survey,yacht,cruising,cruiser,sea,ocean,tide,current,weather,marine,ships,inflatables,fishing,fisherman,cutter,boat navigation,wind,chart,navigator,powerboat,sailboat,sailing,opinion The World's Premiere Source for United States Coast Guard. Information and resources about the USCG, rules, regulations, policy, pay, jobs, forms, pay, locations, and more. auxiliary,faq,facts,manuals,boating rules,boating regulations,boating safety,inflatable boats, scuba diving,boating magazines,travel,boats,boat talk,boaters,boats for sale,boating information,survey,yacht,cruising,cruiser,sea,ocean,tide,current,weather,marine,ships,inflatables,fishing,fisherman,cutter,boat navigation,wind,chart,navigator,powerboat,sailboat,sailing,opinion The World's Premiere Source for United States Coast Guard. Information and resources about the USCG, rules, regulations, policy, pay, jobs, forms, pay, locations, and more. auxiliary,faq,facts,manuals,boating rules,boating regulations,boating safety,inflatable boats, scuba diving,boating magazines,travel,boats,boat talk,boaters,boats for sale,boating information,survey,yacht,cruising,cruiser,sea,ocean,tide,current,weather,marine,ships,inflatables,fishing,fisherman,cutter,boat navigation,wind,chart,navigator,powerboat,sailboat,sailing,opinion The World's Premiere Source for United States Coast Guard. Information and resources about the USCG, rules, regulations, policy, pay, jobs, forms, pay, locations, and more. auxiliary,faq,facts,manuals,boating rules,boating regulations,boating safety,inflatable boats, scuba diving,boating magazines,travel,boats,boat talk,boaters,boats for sale,boating information,survey,cruising,cruiser,sea,ocean,tide,current,weather,marine,ships,inflatables,fishing,fisherman,cutter,boat navigation,wind,chart,navigator,powerboat,sailboat,sailing,opinion The World's Premiere Source for United States. Information and resources about the USCG, rules, regulations, policy, pay, jobs, forms, pay, locations, and more. auxiliary,faq,facts,manuals,boating rules,boating regulations,boating safety,inflatable boats, scuba diving,boating magazines,boats,boat talk,boaters,boats for sale,boating information,survey,cruising,cruiser,sea,ocean,tide,current,weather,marine,ships,inflatables,fishing,fisherman,cutter,boat navigation,wind,chart,navigator,powerboat,sailboat,sailing,opinion
Money strategy
Last Post 11 Jun 2019 07:42 PM by reiss_pieces11. 5 Replies.
Printer Friendly
  •  
  •  
  •  
  •  
  •  
Sort:
PrevPrev NextNext
You are not authorized to post a reply.
Author Messages
FreshontheboatUser is Offline
New Member
New Member
Send Private Message
Posts:1
Freshontheboat

--
09 Jun 2019 02:52 PM
    Hello all, lurker and first post.

    I'm a 24 year old college grad who wants to enlist and pursue an ME rating, MSRT and all that good stuff (prepared for the wait time as a non rate).  I currently have a job making around 40k, and I know that as an E-3 I'd probably be making half of that.  Has anyone been in my situation (taking a pay cut to join), what were your saving solutions etc?

    Thanks!
    jdhuskerUser is Offline
    Basic Member
    Basic Member
    Send Private Message
    Posts:180
    jdhusker

    --
    09 Jun 2019 03:22 PM
    I wasn't in your situation when I joined but don't forget the other allowances and benefits of joining. Your housing, food, and health insurance will be covered or at least mostly covered. Those three things right there were my highest expenditures before I joined, now with those covered most of my base pay is available to do whatever I want with.
    CPORJMUser is Offline
    Resserve Chief/Trusted Member
    Veteran Member
    Veteran Member
    Send Private Message
    Posts:1525
    CPORJM

    --
    10 Jun 2019 03:00 PM
    Also be aware that, depending on when you arrive at boot camp, you could miss a pay day. The CG pays on the 1st and 15th of each month. If you have any recurring payments that you make, you need to be sure you've put enough aside to cover these payments while you're waiting for your CG pay to catch up.
    "When a true genius appears in the world, you may know him by this sign, that the dunces are all in confederacy against him."-Jonathan Swift
    kirkalandUser is Offline
    New Member
    New Member
    Send Private Message
    Posts:72
    kirkaland

    --
    10 Jun 2019 05:11 PM
    Posted By Freshontheboat on 09 Jun 2019 03:52 PM
    Hello all, lurker and first post.

    I'm a 24 year old college grad who wants to enlist and pursue an ME rating, MSRT and all that good stuff (prepared for the wait time as a non rate).  I currently have a job making around 40k, and I know that as an E-3 I'd probably be making half of that.  Has anyone been in my situation (taking a pay cut to join), what were your saving solutions etc?

    Thanks!

    As above poster mentioned your expenses will naturally go down. Otherwise do what everyone should do. Make a budget. List out your expenses, see which ones you have to pay and which ones are luxuries. Make sure you're being honest about which ones you absolutely have to have to survive and how much they'll be. 

    As a nonrate it'll be pretty minimal. Transportation (car payment, maintenance, gas, and insurance) and housing (rent, insurance,  and utilities) will most likely be your biggest categories. When you find out your first assignment, if it's a shore assignment look up the bah for your station and find housing under that number. 

    Biggest "secret" to accumulating wealth regardless of income is living below your means. So don't splurge for an expensive place to live. Live like a pauper your first few months after boot camp and slowly up your spending as you can. And consider the cost of your commute when looking at housing. Guesstimate how much your car costs per mile to operate in commute traffic wherever you are and look at what google maps says about your commute (it has options on the website to set time to arrive by or depart at so you can see what average commutes are like during the week at whatever times you'll be going in/coming home). 
    stealthtt24User is Offline
    Basic Member
    Basic Member
    Send Private Message
    Posts:391
    stealthtt24

    --
    10 Jun 2019 06:39 PM
    I was in your exact scenario, if not more so. Kirkland nailed a good chunk and the others made great points. You make 20k on paper or less as a non rate (assuming you dont get BAH or BAS) but if you drive a paid off car and live below your means, you can save tons. You don't pay for any medical and can start getting your degree adap with TA. I have been able to max out my TSP (401k) for the last year. I dont go out on port calls and spend tons of money you'll be fine. People have serious misconceptions about how much the military pays. Yes on paper it sucks, but if you have any real concept of personal finances you can see its bogus.
    reiss_pieces11User is Offline
    New Member
    New Member
    Send Private Message
    Posts:69
    reiss_pieces11

    --
    11 Jun 2019 07:42 PM
    Look up Dave Ramsey. His methods help many people with savings. Best things you can do are budget, don't impulse buy (control behavior), and put aside money in savings out of each paycheck. Also remember that by being in the military you do get benefits, so some of the costs you might have needed to cover previously, you won't need to anymore. Best of luck!

    **Admin note - Got your back on this one. I hate when my phone double and triple posts for me!  All good**

    Keep Calm and Love a Coastie!
    You are not authorized to post a reply.


    Active Forums 4.3



    Military clothing, gear, insignia, baseball caps and other quality items at SoldierCity


    Disclaimer

    This web site is a privately-owned and has not been underwritten or supported by the United States Coast Guard. 
    The views and opinions posted by members do not reflect the views and opinions of the United States Coast Guard.
    This is an informational site. Welcome aboard!

    Copyright 2010 by USCG.ORG
    United States Coast Guard Forums and Information  |  Terms Of Use  |  Privacy Statement