While youre in the military
2007-12-08 05:59:06 · 15 answers · asked by ChuckDeucez 6 in Politics & Government ➔ Military
Yes, it's extremely easy, whether you're in the military or not.
A lot of companies actually prey on the kids right out of boot camp. Stay away from any business advertising: "We finance E-1 and up!!", or something to that effect. They know exactly how much you get paid and will be more than happy to sell you something they fully know you're not going to be able to afford.
Be careful!!!
2007-12-08 07:09:04 · answer #1 · answered by mAT2t 4 · 2⤊ 0⤋
very much so. fleet and family services have special finacial programs and the relief society can give you interest free loans. the debt is high right now, so make wise choices. there is also one or more people on a crew that is designated to be a financial advisor. also if your in big debt trouble is will mess with your security clearances. not a good thing when your in the military.
2007-12-08 06:55:30 · answer #2 · answered by navywife 3 · 1⤊ 0⤋
It is very easy to spend more money than you have. When I was in the military I had a difficult time just trying to budget for clothes for my two boys when I was an E6 with less than 8 years in.. The money didn't get good until I made E7 and had over 12 years in. The main things to do are to: complete all of your squares, studying and restudying, get excellent performance reports and get promoted. I always started working for my next stripe after getting selected for promotion. A military person has to be proactive to get ahead.
2007-12-08 07:21:49 · answer #3 · answered by Gary 5 · 0⤊ 1⤋
Yes!!!! When I was a baby trooper there were guys that cruised the Post trying to get youngins to sign on the dotted line for whatever type of credit and whatnot. I advise you to think it through, and ask for some thoughts from one of your NCO's on the matter. I recall a poor trooper getting in a mountain of debt within a few weeks of being on post. The poor guy was paying about 80% of his Monthly income on those promises. So be wary!
2007-12-08 06:27:22 · answer #4 · answered by DietrichVonQuint 5 · 0⤊ 0⤋
It is easy to get into debt anytime if you spend more than you make. Remember that credit cards are a trap. If you can't pay for something within 3 months of buying it (other than a car or a house of course), then you probably can't afford it and shouldn't buy it.
2007-12-08 06:03:40 · answer #5 · answered by Jeanne R 7 · 4⤊ 0⤋
It's easy to get in to debt everywhere.
Debt is the best way to stay poor.
Soldiers are just young.
2007-12-08 06:27:17 · answer #6 · answered by MP US Army 7 · 1⤊ 0⤋
Way too easy. You do not make much and it is easy to "overspend" and wind up deep in debt. It is a far too common problem.
2007-12-08 06:19:14 · answer #7 · answered by Otto 7 · 2⤊ 0⤋
Especially if you've been pulled out of a civilian job making over 40K to a military salary of less than 20K.
2007-12-08 06:08:59 · answer #8 · answered by Anonymous · 3⤊ 0⤋
It's easy to get into debt regardless of where you are. Simply spend more than you can afford to pay. What's the mystery?
2007-12-08 06:02:27 · answer #9 · answered by Anonymous · 2⤊ 1⤋
If you live outside your means, yes. A lot of companies will give you credit cards, and loans and etc because you've got a guaranteed paycheck. If you take every offer, you'll soon find yourself living outside your means.
2007-12-08 06:09:28 · answer #10 · answered by Denise S 5 · 3⤊ 0⤋