Service members should consider depositing their money into high-yield savings accounts as they provide better returns compared to traditional savings accounts, which offer low interest.
Many veterans return from service without the financial knowledge needed to navigate the money-centric world, often learning the hard way through experience about personal finance.
Engaging with the r/MilitaryFinance community can provide valuable insights and tailored advice for service members looking to improve their financial literacy and management.
It’s critical for young adults in the military, like the 19-year-old E-2 mentioned, to actively seek out better savings options to maximize their financial growth.
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