Mike "Wuzzy121". Rest in peace, brother

Go Back   Tacoma World Forums > Off-Topic > Military

Notices

Looking for Financial Advice for Young Soldier

Reply
 
Thread Tools Search this Thread
Old 10-23-2012, 09:04 AM   #1
336 [OP] 336 is offline
Junior Member
336 is on a distinguished road
Name: Kendrick
Joined: Sep 2012, #87296
Location: Ashe
Gender: Male
Posts: 24
336's Tacoma Gallery
Looking for Financial Advice for Young Soldier

Hey guys, I'm new here. Over from Clubfrontier.. Love the site and I spend more time here than on CF. I'm looking at getting a Tacoma but would like some insight from other military members.

I leave for Army Basic training next Sunday (Nov 4). I've been reading a lot about investing and being smart with money. If you could go back to my position, 18, single, no bills, no credit, just a clean slate what would you do? I really would like a Tacoma, but feel like I should hold off.

Basically I'm seeking advice in all areas of finance and how to benefit the most from military pay.

I drive a 2006 Nissan Frontier, it's close to paid off. My first vehicle bought by my parents, mods bought by me. My MOS is 35G - Imagery Analyst for those wandering. Pic of my truck...
  Reply With Quote
Old 10-23-2012, 09:08 AM   #2
Mayor of TW
Delmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shed
 
Delmarva's Avatar
Army: Vet
Name: Mike
Joined: Oct 2008, #10148
Location: Tucson, AZ
Age: 34
Gender: Guy
Posts: 35,109
Delmarva's Tacoma Gallery
Welcome to TW

Keep the Fronty until it dies... bills are no fun and having a vehicle that is paid off is well worth it...
  Reply With Quote
Old 10-23-2012, 09:08 AM   #3
Banned
acdronin is one of the sharper tools in the shedacdronin is one of the sharper tools in the shedacdronin is one of the sharper tools in the shedacdronin is one of the sharper tools in the shedacdronin is one of the sharper tools in the shedacdronin is one of the sharper tools in the shedacdronin is one of the sharper tools in the shedacdronin is one of the sharper tools in the shedacdronin is one of the sharper tools in the shedacdronin is one of the sharper tools in the shedacdronin is one of the sharper tools in the shed
Joined: Dec 2010, #47036
Gender: Male
Posts: 19,705
acdronin's Tacoma Gallery
As an investment towards a reliable vehicle you can't go wrong with a Tacoma, they hold their value well and a well-cared for used truck is going to be a lot cheaper than new. Maybe you could try to sell the Fronty before you leave for BT, or sell it after BT and save the $ towards something nice in a Tacoma.
  Reply With Quote
Old 10-23-2012, 09:09 AM   #4
Stormtrooper
KCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shed
 
KCDuran's Avatar
Air Force: LT
Name: Kyle
Joined: Jun 2012, #80606
Location: South Jersey
Age: 23
Gender: Male
Posts: 6,818
KCDuran's Tacoma Gallery
Honestly if you don't have any credit.... I'd save your money. Start saving get a credit card and use that as a bank card and pay it off every month. Buying a new truck or car is always a fun thought and a big decision. The question you should ask yourself is, "do I need a new/newer truck? If I do, why?"

Every time I buy anything I always do a pro and con list... Other than buying uniforms because I need stuff that isn't trashy cut up or dingy.....

I hope that helps...Also invest in a Roth IRA.... Do small things
  Reply With Quote
Old 10-23-2012, 09:10 AM   #5
"Pick up some speed.. You'll make it."
BuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shed
 
BuzzardsGottaEat's Avatar
Marines: 3rd Battalion, 1st Marines
Name: Chaz
Joined: Apr 2011, #55669
Location: Nebraska/South Dakota
Age: 26
Gender: Guy
Posts: 5,363
BuzzardsGottaEat's Tacoma Gallery
For real man, spend as little as possible. Don't go out boozing, don't blow it all on nice gear, and watches and glasses and clothes or something gay like a lot of my guys did. This is my advice to you. Be that guy that won't spend unless it's something you need. Hold off on buying the truck, keep yours for now. When you have a few years in and big chunk of change saved up (it adds up quick with little to no bills) then start shopping for that good deal. Whether you do 4 years or 20, start saving every penny now and you will be happy you did later.
  Reply With Quote
Old 10-23-2012, 09:20 AM   #7
336 [OP] 336 is offline
Junior Member
336 is on a distinguished road
Name: Kendrick
Joined: Sep 2012, #87296
Location: Ashe
Gender: Male
Posts: 24
336's Tacoma Gallery
Sweet guys. Thanks for the warm welcome.

Starting a Roth IRA account is at the top of my list. Signed the paperwork for a credit card today so that will be here soon, figured it would be smart to use it, and pay it off each month to build my credit.

The way I look at is if I upgrade vehicles then I won't be buying a house soon. If I keep the Frontier then I may be able to get a small house and rent it out to friends that will be graduating college. I should be able to control myself, I'm pretty smart about things and only spend when needed. I'll be without my truck for so long anyways... my AIT is 21 weeks in AZ.
  Reply With Quote
Old 10-23-2012, 09:25 AM   #8
Stormtrooper
KCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shed
 
KCDuran's Avatar
Air Force: LT
Name: Kyle
Joined: Jun 2012, #80606
Location: South Jersey
Age: 23
Gender: Male
Posts: 6,818
KCDuran's Tacoma Gallery
Quote:
Originally Posted by 336 View Post
Sweet guys. Thanks for the warm welcome.

Starting a Roth IRA account is at the top of my list. Signed the paperwork for a credit card today so that will be here soon, figured it would be smart to use it, and pay it off each month to build my credit.

The way I look at is if I upgrade vehicles then I won't be buying a house soon. If I keep the Frontier then I may be able to get a small house and rent it out to friends that will be graduating college. I should be able to control myself, I'm pretty smart about things and only spend when needed. I'll be without my truck for so long anyways... my AIT is 21 weeks in AZ.
Do you know where you're going to be stationed? GL on the house thing THAT is a scary investment I hope you trust the people living there. By the way thank you for your decision to serve my friend
  Reply With Quote
Old 10-23-2012, 09:26 AM   #9
Mayor of TW
Delmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shedDelmarva is one of the sharper tools in the shed
 
Delmarva's Avatar
Army: Vet
Name: Mike
Joined: Oct 2008, #10148
Location: Tucson, AZ
Age: 34
Gender: Guy
Posts: 35,109
Delmarva's Tacoma Gallery
Quote:
Originally Posted by 336 View Post
Sweet guys. Thanks for the warm welcome.

Starting a Roth IRA account is at the top of my list. Signed the paperwork for a credit card today so that will be here soon, figured it would be smart to use it, and pay it off each month to build my credit.

The way I look at is if I upgrade vehicles then I won't be buying a house soon. If I keep the Frontier then I may be able to get a small house and rent it out to friends that will be graduating college. I should be able to control myself, I'm pretty smart about things and only spend when needed. I'll be without my truck for so long anyways... my AIT is 21 weeks in AZ.
have fun at huachuca... it's a giant shithole..

  Reply With Quote
Old 10-23-2012, 09:34 AM   #10
336 [OP] 336 is offline
Junior Member
336 is on a distinguished road
Name: Kendrick
Joined: Sep 2012, #87296
Location: Ashe
Gender: Male
Posts: 24
336's Tacoma Gallery
^ Fort Jackson for Basic, and then Fort Huachuca for AIT.


Quote:
Originally Posted by Delmarva View Post
have fun at huachuca... it's a giant shithole..

Haha fuck... that's not reassuring at all :P

Haha I guess the Frontier will get some TLC during it's time at home. Yes the house is a scary investment, but I have believe if I bought a quality "small" home I could get renters. At least that's the plan lol...
  Reply With Quote
Old 10-23-2012, 09:37 AM   #11
Stormtrooper
KCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shed
 
KCDuran's Avatar
Air Force: LT
Name: Kyle
Joined: Jun 2012, #80606
Location: South Jersey
Age: 23
Gender: Male
Posts: 6,818
KCDuran's Tacoma Gallery
Quote:
Originally Posted by 336 View Post
^ Fort Jackson for Basic, and then Fort Huachuca for AIT.



Haha fuck... that's not reassuring at all :P

Haha I guess the Frontier will get some TLC during it's time at home. Yes the house is a scary investment, but I have believe if I bought a quality "small" home I could get renters. At least that's the plan lol...
Good luck my friend have fun at basic lol
  Reply With Quote
Old 10-23-2012, 09:38 AM   #12
336 [OP] 336 is offline
Junior Member
336 is on a distinguished road
Name: Kendrick
Joined: Sep 2012, #87296
Location: Ashe
Gender: Male
Posts: 24
336's Tacoma Gallery
Haha I think I'll be fine physically. It sucks cause it will take 12 weeks to finish instead of 10.. fucking Christmas exodus....
  Reply With Quote
Old 10-23-2012, 09:42 AM   #13
Stormtrooper
KCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shedKCDuran is one of the sharper tools in the shed
 
KCDuran's Avatar
Air Force: LT
Name: Kyle
Joined: Jun 2012, #80606
Location: South Jersey
Age: 23
Gender: Male
Posts: 6,818
KCDuran's Tacoma Gallery
Quote:
Originally Posted by 336 View Post
Haha I think I'll be fine physically. It sucks cause it will take 12 weeks to finish instead of 10.. fucking Christmas exodus....
Anyone can so it physically (I'd hope) but its all about that mental f*** they give you. Buddy of mine went through army bmt as an officer select and he told me he had a lot of fun and got to shoot and get qual'd on a bunch of weapons. Enjoy your time. And stay mentally sharp, remember this, it's all a game and you need to figure out how to play it well. Also don't screw over your people in the process.
  Reply With Quote
Old 10-23-2012, 09:48 AM   #14
Senior Member
bash42 is one of the sharper tools in the shedbash42 is one of the sharper tools in the shedbash42 is one of the sharper tools in the shedbash42 is one of the sharper tools in the shedbash42 is one of the sharper tools in the shedbash42 is one of the sharper tools in the shedbash42 is one of the sharper tools in the shedbash42 is one of the sharper tools in the shedbash42 is one of the sharper tools in the shedbash42 is one of the sharper tools in the shedbash42 is one of the sharper tools in the shed
Joined: Jun 2011, #59011
Location: Eastern PA
Gender: Male
Posts: 773
bash42's Tacoma Gallery
Quote:
Originally Posted by acdronin View Post
As an investment towards a reliable vehicle you can't go wrong with a Tacoma, they hold their value well and a well-cared for used truck is going to be a lot cheaper than new. .
this is simply not true....people are paying close to new prices for trucks that are 2 years old. Honestly, just drive the nissan until it dies, save your money for other things. You have the rest of your life to be in debt and worry about bills. the frontiers are nice trucks!
  Reply With Quote
Old 10-23-2012, 09:49 AM   #15
336 [OP] 336 is offline
Junior Member
336 is on a distinguished road
Name: Kendrick
Joined: Sep 2012, #87296
Location: Ashe
Gender: Male
Posts: 24
336's Tacoma Gallery
Yeah that's what I heard. It's all a game and you must play it well. Which is nice because that's how I've always viewed life in general, a big game. The anticipation is worse than the nervousness.
  Reply With Quote
Old 10-23-2012, 10:02 AM   #16
Senior Member
MudFlap is a splendid one to beholdMudFlap is a splendid one to beholdMudFlap is a splendid one to beholdMudFlap is a splendid one to beholdMudFlap is a splendid one to beholdMudFlap is a splendid one to beholdMudFlap is a splendid one to behold
 
MudFlap's Avatar
Name: Tim
Joined: Jul 2011, #59794
Location: Memphis (north mississippi)
Age: 38
Gender: Dude
Posts: 360
MudFlap's Tacoma Gallery
Quote:
Originally Posted by bash42 View Post
this is simply not true....people are paying close to new prices for trucks that are 2 years old. Honestly, just drive the nissan until it dies, save your money for other things. You have the rest of your life to be in debt and worry about bills. the frontiers are nice trucks!

I agree, keep your Fronty and enjoy not making payments for a while (I know its not QUITE paid off YET but still......)

The one thing I would advise you to do, cause nobody taught me the importance. TAKE CARE OF YOUR CREDIT! That shit follows you and its hard as hell to bring back up. I didnt care about mine untill I was almost 30 and my son was born (kids make ya grow up dont they? LOL). In 2004 I started paying off the charge offs on my credit report to try to start re-establishing myself. In 8 years I am JUST NOW able to get my own credit again w/o anyone cosigning for me, and I aint getting those GREAT intrest rates either but considering where I WAS, Im doing good.

So take care of that credit, it affects SO MUCH, like insureance rates, intrest rates (those 2 can cost you several THOUSAND dollars, and it could even affect would be employers decision to hire you too. . . . .
  Reply With Quote
Old 10-23-2012, 10:05 AM   #17
Senior Member
TallTacoma is a splendid one to beholdTallTacoma is a splendid one to beholdTallTacoma is a splendid one to beholdTallTacoma is a splendid one to beholdTallTacoma is a splendid one to beholdTallTacoma is a splendid one to beholdTallTacoma is a splendid one to behold
 
TallTacoma's Avatar
Army: FiSTers bring it fast and hard!
Name: Charles
Joined: Jun 2010, #38787
Location: The Silver State
Gender: Male
Posts: 145
TallTacoma's Tacoma Gallery
You've been given good advise, so far.

Don't buy any houses. That's way more than you can handle on a lower enlisted paycheck. Again, don't buy a house. Rental houses are a can of worms. If you can't watch your rental property like a hawk, don't do it. Your buddy's buddies will trash your sh*t, guaranteed.

Concerning getting rid of the Frontier for a Tacoma, what Tacoma do you want? Do you want a $8000 first gen or do you want a new one? Too many variables to give you good advise on that one. How much do you owe on the Frontier? Are you upside down?
  Reply With Quote
Old 10-23-2012, 10:13 AM   #18
"Pick up some speed.. You'll make it."
BuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shedBuzzardsGottaEat is one of the sharper tools in the shed
 
BuzzardsGottaEat's Avatar
Marines: 3rd Battalion, 1st Marines
Name: Chaz
Joined: Apr 2011, #55669
Location: Nebraska/South Dakota
Age: 26
Gender: Guy
Posts: 5,363
BuzzardsGottaEat's Tacoma Gallery
His truck is payed for, first vehicle payed for by his parents (score). I say keep it till it rots, get a Taco someday when you really feel like it's time to move on for a rational reason other than, I think the Taco is a little better. I'd keep a free Fronty over a $30,000 Taco anyday
  Reply With Quote
Old 10-23-2012, 10:17 AM   #19
Senior Member
Reeves is on a distinguished road
 
Reeves's Avatar
Army: 2/16
Joined: Oct 2012, #88129
Location: Ft. Riley KS/ Fitzgerald GA
Gender: Male
Posts: 148
Reeves's Tacoma Gallery
Keep the Nissan, Baracks are free man and like said above dont buy all that high speed shit just a nice pair of boots and socks the army will provide everything else. Your time at basic will be cake
  Reply With Quote
Old 10-23-2012, 10:19 AM   #20
Senior Member
The109 is a glorious beacon of lightThe109 is a glorious beacon of lightThe109 is a glorious beacon of lightThe109 is a glorious beacon of lightThe109 is a glorious beacon of light
Navy:
Name: Joe
Joined: Oct 2012, #89193
Location: Saint Louis, MO
Gender: Male
Posts: 216
The109's Tacoma Gallery
Stay away from military females. Only date civillians. Don't get married just so you can move off base.

Keep your Nissan for now.

Keep a good attitude no matter how shitty things get in the military. I started off poor, joined the Navy, got my degree.... now I'm doing great.
  Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Advice to Young Men from an Old Man tcBob Off-Topic Discussion 34 10-28-2012 04:15 PM
Financial Software mws4ua Off-Topic Discussion 6 01-12-2011 10:55 AM
Financial advice needed... Keith120286 Off-Topic Discussion 12 11-25-2010 06:08 PM
What's with Toyota financial?? ColdZeroBSP Off-Topic Discussion 6 11-02-2009 02:19 PM


Copyright © 2014 Tacoma Forum. Tacoma World is not owned by, or affiliated with Toyota Motor Corporation.