I am joining the British Army,i am just wondering how much money to putt by for myself?

Question

when i start i will be making £1,384 per month, im signing up for 4 years i was thinking of £250 per month for 4 years and hopefully have £10,000 , what would you do lol? more ? add [e-mail] or [e-mail]

Answer 1

Good move old boy what what..........
Youll hardly have to spend anything while your in the Army.......... Well, unless you want some decent Boots......... Or anything that might save your life in Battle that is.
Oh and Prostitutes.

Answer 2

Hi Keiran, I think I would find a savings account that was flexible, aim to put in your £250 a month but when you find you have some left over you can make a deposit and when you want some extra you can withdraw. Go for a safe investment, have a look at the various ISA investments as these are tax free - it might suit you to have two savings accounts one fixed at £250.00 a month and another flexible. Go on line and have a look at www.thisismoney.co.uk and you will find some useful information. Good luck to you and know that there are people out here who appreciate and respect what you guys do.

Answer 3

I wouldn't worry too much about saving money to begin with. When i joined the RAF i started on similar money and its amazing how much money you can spend on things such as travel (although you will get 3 rail warrants a year), kit and alcohol lol!!!!!!!! Don't forget your food, accomodation, tax, NI and charities that they'll try n get you to sign up 2. Just see how you get on for a few weeks and then maybe start putting money away. You'll get extra money when your out on operation so that can be used as an investment. Stick it in an ISA account and you'll get even more back! Have fun in the army it'll be a good laugh

Answer 4

who told you that you would get that much? was it in the recruitment office?
You will be a bit disappointed to know that you get after all that is taken out quite a lot less. Then you have to buy all extra kit you might need. For example you will need an extra Piar of boots to keep polished. There not cheap.
My son just been sent to Iraq. He likes the army, but I had to buy bp vest. Have a look on web and see how much they are. Oh and kit cheaper on web than mod.
Don't be put off Army great life. Just poor pay. Good luck.

Answer 5

The way to make your money work for you is to buy an insurance policy which matures in say five years. During the period of cover, you get umpteen thousand quids worth of life cover plus your regular monthly payments of £250 start to grow and fast. At the five year point, you'll get a lump sum. The value of this depends on the performance of the stock market in most cases. But things are looking good right now and we're all back on track and making profits. Go for it!

Answer 6

you did'nt say if this was after tax or before,Save what you can,My son was in the forces for seven years and came out with nothing,because when he came home on leave, he would blow the lot on booze and clubbing,put this money into an ISA or E-savings account,If your posted to germany,watch out for the massive charges every time you draw money from the machine.My son's were in excess of £40.00 per bank statement

Answer 7

first off why not invest more............you have room and board and even if you took out for smellies,nights out ,you could save more,depends how bad you want to,too many come out not prepared as they have peed it up the wall,so put £500.00 away a month,leaves you £884.00...........more than enought
for enjoying your self,put another £150.00 away and when on leave go abroad etc.
that way you walk with £24.000
not bad if you can discipline your self

Answer 8

If that is your true name (form of Ciarán), I sincerely hope you are NOT joining the Brit army. Do you know what fealltóir means?

Answer 9

the army is not a job, but a way of life. you receive allowance of course, but it is a sacrificial job for which one takes oath to serve his/ her sovereignty. missions are always placed first, not the money.