Hello,
This is my first post to this subreddit - to be honest I've never given much thought to my personal finance. For the last 18 years my family has handled the majority of my money situations, including setting up bank accounts and handling my funds. I've never had much financial independence.
However, I will be leaving to attend a US Service Academy in approximately 2 months. These institutions are federally funded meaning I will not have to pay tuition, housing, food, or medical/dental while working towards a degree and eventual career in the military. I will also receive a monthly stipend of about $1,000. A little bit about me - 18 year old male, pretty frugal and rarely spend money. I tend to live more conservatively and tend not to splurge on large purchases, and really only stick to the essentials.
So here's my dilemma: Come two months I will be completely independent. I've opened up my own bank account and transferred all my funds into it (I have a little over $6,000 saved), but I really don't know how to go about handling money for the rest of my career. I am interested in saving and possibly investing. I've heard great stories about single military members who are smart with their money ending up very well off. I hope this is the right place to ask about this. I'm not sure if there's any sort of specific plan that I should be following. To be honest, I'm pretty clueless when it comes to money. I've owned a debit card for 5 years and only used it three times.
So yeah, that's pretty much it. I would really appreciate any advice that could be given to me regarding my situation!
Submitted May 13, 2017 at 06:11PM by --IIII-------IIII-- http://ift.tt/2qfe796
