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The Savvy Squaddie
United Kingdom
เข้าร่วมเมื่อ 30 พ.ย. 2020
On a mission to improve the financial savviness of the UK Armed Forces.
Having served in the British Army for the last 10 years, I have seen countless serving personnel throw money mindlessly away because they do not have a basic understanding of personal finance. I hope to change this with the content I produce here on, The Savvy Squaddie.
Money tactics for military minds.
Disclaimer:
The views and opinions expressed in this video are my own and do not necessarily reflect the views of the British Army or the Ministry of Defence.
I am not a trained financial advisor and what I say is NOT financial advice. They are my own thoughts and opinions on the matter. You should do your own research and come to your own conclusions before starting to invest your money.
Having served in the British Army for the last 10 years, I have seen countless serving personnel throw money mindlessly away because they do not have a basic understanding of personal finance. I hope to change this with the content I produce here on, The Savvy Squaddie.
Money tactics for military minds.
Disclaimer:
The views and opinions expressed in this video are my own and do not necessarily reflect the views of the British Army or the Ministry of Defence.
I am not a trained financial advisor and what I say is NOT financial advice. They are my own thoughts and opinions on the matter. You should do your own research and come to your own conclusions before starting to invest your money.
Someone tried to have me disciplined…
Someone tried to have me disciplined…..
2024 has come to an end and in this video I answer some of your questions while recapping certain points. From how much money I earned to what caused someone to submit a complaint against me. I talk about the new Army Retention Payment and share my thoughts on what someone should spend the money on.
Thank you to everyone who has supported what I am doing here at The Savvy Squaddie. Hopefully we can continue this growth into 2025 and beyond.
Support Me:
Buy Me A Coffee - www.buymeacoffee.com/thesavvysquaddie
Referral Links:
Octopus Energy (£50 sign up bonus) - share.octopus.energy/sunny-mule-236
TopCashBack (£10 sign up bonus) - www.topcashback.co.uk/ref/ceden
Audible (30 day free trial) - www.amazon.co.uk/Audible-Free-Trial-Digital-Membership/dp/B00OPA2XFG?tag=
Investment Brokers I Use:
Vanguard - www.vanguardinvestor.co.uk/
Etoro - etoro.tw/43KiPg3
Trading212 - www.trading212.com/invite/11PVkSRGVA
Videos:
Army Retention Payment - th-cam.com/video/Rkzm3YNqzyU/w-d-xo.htmlsi=TF8fOdosjsLgUts3
ISAs Explained - th-cam.com/video/gVhPE_yAqWQ/w-d-xo.htmlsi=_filrNeDMu9v_WhB
Investing Playlist - th-cam.com/play/PLvUKpbCqDa-Di7taEiUtNCHHfokOyZMhm.html&si=SYmkQEYDfkuEFht2
Compounding Explained - th-cam.com/video/4l2PCwYtMdA/w-d-xo.htmlsi=FpNvk5hiEG_By6pv
EDP Explained - th-cam.com/video/AXP9IiXOmFQ/w-d-xo.htmlsi=f6KG5H6yNtP8ZylK
Timecodes:
0:00 Intro
0:55 Do you have any haters?
1:46 How much did you earn in 2024?
2:53 Do you offer unit briefs?
3:31 What is happening with the NAO?
5:44 Is the Army Retention Payment racist?
6:23 Retention payment for over 14 years of service?
7:05 Is the retention payment worth it?
8:44 What should I spend the retention bonus on?
9:48 What should a new recruit do with the power of compounding?
10:47 Is the EDP monthly or yearly?
11:07 What investing platform do you recommend?
12:11 Final Thoughts
12:34 Outro
DISCLAIMER:
The views and opinions expressed in this video are my own and do not necessarily reflect the views of the British Army or the Ministry of Defence.
I am not a professional financial advisor and this video is not financial advice. Please do your own research before making any decisions with your money and seek professional financial advice if need be.
2024 has come to an end and in this video I answer some of your questions while recapping certain points. From how much money I earned to what caused someone to submit a complaint against me. I talk about the new Army Retention Payment and share my thoughts on what someone should spend the money on.
Thank you to everyone who has supported what I am doing here at The Savvy Squaddie. Hopefully we can continue this growth into 2025 and beyond.
Support Me:
Buy Me A Coffee - www.buymeacoffee.com/thesavvysquaddie
Referral Links:
Octopus Energy (£50 sign up bonus) - share.octopus.energy/sunny-mule-236
TopCashBack (£10 sign up bonus) - www.topcashback.co.uk/ref/ceden
Audible (30 day free trial) - www.amazon.co.uk/Audible-Free-Trial-Digital-Membership/dp/B00OPA2XFG?tag=
Investment Brokers I Use:
Vanguard - www.vanguardinvestor.co.uk/
Etoro - etoro.tw/43KiPg3
Trading212 - www.trading212.com/invite/11PVkSRGVA
Videos:
Army Retention Payment - th-cam.com/video/Rkzm3YNqzyU/w-d-xo.htmlsi=TF8fOdosjsLgUts3
ISAs Explained - th-cam.com/video/gVhPE_yAqWQ/w-d-xo.htmlsi=_filrNeDMu9v_WhB
Investing Playlist - th-cam.com/play/PLvUKpbCqDa-Di7taEiUtNCHHfokOyZMhm.html&si=SYmkQEYDfkuEFht2
Compounding Explained - th-cam.com/video/4l2PCwYtMdA/w-d-xo.htmlsi=FpNvk5hiEG_By6pv
EDP Explained - th-cam.com/video/AXP9IiXOmFQ/w-d-xo.htmlsi=f6KG5H6yNtP8ZylK
Timecodes:
0:00 Intro
0:55 Do you have any haters?
1:46 How much did you earn in 2024?
2:53 Do you offer unit briefs?
3:31 What is happening with the NAO?
5:44 Is the Army Retention Payment racist?
6:23 Retention payment for over 14 years of service?
7:05 Is the retention payment worth it?
8:44 What should I spend the retention bonus on?
9:48 What should a new recruit do with the power of compounding?
10:47 Is the EDP monthly or yearly?
11:07 What investing platform do you recommend?
12:11 Final Thoughts
12:34 Outro
DISCLAIMER:
The views and opinions expressed in this video are my own and do not necessarily reflect the views of the British Army or the Ministry of Defence.
I am not a professional financial advisor and this video is not financial advice. Please do your own research before making any decisions with your money and seek professional financial advice if need be.
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8k sod that transfer to the navy and get 30k as a retention bonus for aircraft engineer technician of or4 and or6 (cpl and sgt)
So I am 2 months short of my 6 year point. If I signed off now would I qualify for the CRP considering I’d be over the 6 year mark by the time it comes round to completing it?
5:47 they can, but they won’t.
Big fan of your work. Keep it up.
Hey Savvy, any chance you could do a vid on the death in service benefit. Something which i think is a retention game changer but i dont fully understand it. I would assume many others are the same !
It is most definitely on the to do list.
Great video, I’ve been a subscriber since close to the start and as a senior officer in the lighter blue service I think your briefs should be taken on as core and you be paid to deliver them to the lads. Keep it going and ignore the whiners.
Great video mate, as if someon reported you 🤣 proper helmet I was looking for an answer for something regarding RoS, if you could help? Im not sure where else to manage.
Cheers mate. Sure, I'll try and help if I can.
@thesavvysquaddie Cheers for the reply. Joined up September 2021 and rebadged July 2024 invoking a 2y 6m RoS. My question is, when would I actually be allowed to sign off? My thinking was that I've already done 6months of that RoS so there's 2 years left...if I did 1 year I could potentially do that 2nd year of RoS as my sign off year. I've been to my company clerk but they didn't even know haha, so trying to get an answer. Cheers all the same 👍
I'm not 100% sure but I'm going to go off of how the new Army Retention Payment RoS works. In those cases it's a 3 year RoS if they take the money. They can sign off 1 year before the final day of their RoS. Which means they could leave the day after their RoS is complete. I would assume that is the same for you. You should be able to sign off during your RoS but only a maximum of a year before it ends. Hope that makes sense.
The pension also needs to be taken into account. Retiring at 55 with almost 50% of your final salary that is indexed linked is pretty generous. But to be fair, after spending so many years serving the country and risking their lives, all whilst on a mediocre salary, they do deserve it!
A future video will account for pension and show the total remuneration.
Great video mate, this type of information is long overdue for young soldiers (peer on peer advice is undervalued). Your FRI details were spot on, possibly worthwhile doing a bespoke video detailing the digital application process too? Regarding the complainant, no real shock there, it’s reasonable to assume that the SP in question was green with envy / jealousy from the success of your platform. Keep up the good work. Thank you and Happy new year! 👍
Many thanks, appreciate the support. A video walkthrough of that would be very useful. However, as it's not publicly available it's unlikely I'll be able to do it unless I get the thumbs up from the internal Comms team again.
I served for a long time... Those who constantly said the army is 5hit all the time and left. Down the road they realised that with a bit of effort it was not!
Odd saying excluding GURTAP is racist when they exclude woman from joining, not very inclusive.
Rewarding troops who have hardly any experience and performing at a B- level is mental😂
A walk through video on the trading platforms would be great!
Will try and nip it in Q1 2025.
Imagine being able to retire in your 40’s. What a goal!
I will probably do a video explaining my strategy for how I plan to achieve it.
And get an army pension at 66!
I live near Sandhurst and the other day at a private gym I braced up to an officer even though I’ve been out of the army for ten years. He chastised me for not shaving. I gave him a false rank and name and walked off
I live near Sandhurst and the other day at a private gym I braced up to an officer even though I’ve been out of the army for ten years. He chastised me for not shaving. I gave him a false rank and name and walked off
I bet you get butt hurt
I keep asking your mum to use lube but she never listens.
I bet in reality you’re a lardy RLC biff and are bitter about being passed over for promotion.
Sorry about the SC from a fellow officer (although I wear a different colour uniform to you lot). It’s really disappointing to hear as I believe you have helped so many folks (OFs and ORs) in the 3 Armed Services with your excellent material. Please keep it up and ignore the erroneous rants of others - it sounds like you are robust enough to not need my supporting comments, anyway! 👍😂
Much appreciated.
Absolutely behind everything you do, I messaged you on instagram a few months back and you helped with a few problems with my resettlement grant and helped me get it fully squared away, the “butthurt” shall we say, should cope harder, keep doing what you’re doing, this shit makes people stay and it shows! Have a cracking new year mate!
Appreciate it and you too!
Timecodes: 0:00 Intro 0:55 Do you have any haters? 1:46 How much did you earn in 2024? 2:53 Do you offer unit briefs? 3:31 What is happening with the NAO? 5:44 Is the Army Retention Payment racist? 6:23 Retention payment for over 14 years of service? 7:05 Is the retention payment worth it? 8:44 What should I spend the retention bonus on? 9:48 What should a new recruit do with the power of compounding? 10:47 Is the EDP monthly or yearly? 11:07 What investing platform do you recommend? 12:11 Final Thoughts 12:34 Outro
That officer must think the army operates like Sandhurst does.. he needs to take that cassette fully out of his brain. He needs to Wake up to the fact that he is the toxic leadership which makes some of the best soldiers sign off.
I think the saddest thing is that it surprises absolutely no-one.
I'm trying to join the army and found your videos Great
Glad they've helped!
This channel definitely deserves Subscription and views
I agree 💯
Unfortunately you're going to come across knobs who'll try to wreck your career. Believe me I've came across them and I tend to ignore them if I believe I'm right and carry on as usual.
The individual was well ignored. Made for plenty of laughs in the office though. Even my own direct chain of command were on my side. I think it was just a spontaneous emotional reaction to a factual statement.
I think the usual suspect might be me lol . But I do think what you are doing is great. It puts HR to shame in any unit I’ve been in the last 24 years . I’ll know longer need this info as I’m out but keep up the good work .
Haha I was actually thinking of someone else. What I did fail to mention in that answer that just because someone comments something negative doesn't make them a hater.
I'm curious, do you put this down on your SJAR? Seems like SJAR gold if you work in the HR side of things as the day job.
This year was the first time I mentioned it. I didn't before as it was still growing and for the first year and a half or so, I was anonymous. But I don't work in HR so doesn't do me any favours on that side. Managed to get me a conductors coin though haha
I think your content should be used to brief phase 1 trainees throughout the tri-service community to help them understand just how beneficial a career in the armed forces can be. Thanks for another great video. You’ve certainly helped me get a grip of my financial literacy. 👍🏻
Thanks for the kind words. Happy for them to be played there. I'm also happy to go to phase 1 and 2 establishments myself to do chat to all the trainees.
@ I know a lot of people I serve with who would benefit greatly from a brief delivered by you. Even just discussing AFPS15 and squashing all the rumours about it being gash. It may even sway them from putting their chits in if they really knew the benefits. Savvy Squaddie is the answer to recruitment and retention.
Couldn’t agree more, should be in phase 1 curriculum 👍
This is a great video. I can see a lot of serving personnel viewing this and arguing that the pay is terrible in relation to civilian roles especially at the lower ranks. To counter this, it would be great include the value of pension contributions on top of their salary to get a like for like comparison. The Sainsbury's delivery driver is not getting army level pensions, nor subsidised accommodation etc. Off the top of my head, and you will know better than me, I believe the effective contribution rate into MOD pensions is worth about 30% of the gross salary.....
Haha you've read my mind. That video will be coming out this year. Our employer pension contribution is closed to 43% of our salary. So it's very good.
u sound like a farmer
I am from Somerset
I tried to claim for flat feet caused during my service (issued boots), I was downgraded for a yr just doing rehab PT. I got some insoles issued but I still had the same problem. Because of politics and my regiment being mag to grid, I chose to do my seven clicks on JPA and leave. I served 4.5 yrs. I tried to make a claim with AFCS, they were very helpful and supportive with my claim. Unfortunately my solicitor at the tribunal wasn't very good. The forces solicitor said to the board that flat feet is very common in the UK, and that was that. I was rejected a claim. At the same time I was claiming for double knee injuries of which I had a debridement of tendinopathy surgery. It was the most painful thing I've ever experienced. My knees felt like they were on fire. I was awarded a claim for my right knee but not the left. I got better and recovered. I'm now 35 and can run a bit but my flat feet still cause me immense pain and my calf muscles get really tight. At times, its difficult to walk when this happens. Normally when attempting a run. Its been10 yrs since I left the army. After doing more of my own research, I am appalled that the professionals who were supposed to find out what is wrong with my lower limbs didn't convey the right information to me or give me the understanding on my injury. All this forced my military career left. Yrs later I'm interested in reenlisting but maybe as an officer this time around. I can't help but think I'll be rejected. Or worse, unable to meet the fitness standard.
Excellent video. I love how you hammer home how great this pension scheme is!
I get pretty passionate about it. People just don't realise.
No mention here of the impact of the Triple Lock and Personal Allowance Threshold will have on the future of Service Pensions. A concerned 77 year old Army Veteran who has just lost his Winter Fuel Allowance. If we were to receive a proper pension there would be no need for welfare handouts. STATE PENSION IS NOT A BENEFIT our earnings were taxed whilst we were working throughout our lifetime in order to provide us with a State pension on retirement. Unlike the State Pension, Service Pensions are NOT TAX FREE. With a Personal Allowance Threshold of just £12,570 my small Army Pension which I am very grateful to receive is already being taxed. So once the 4.1% Triple Lock Increase comes in April 25 Guess What guy's HMRC will be clawing back even more money from my Service Pension which will shrink still further. I wrote to the OVA expressing my concerns and their response was very dismissive. So much for the Military Covenant.
It baffles me why govt departments pay (very occasional) taxable bonuses. Why not just tell people they'll get £5700 tax free, it sounds more attractive and costs the same?
@@jonbeake3200 that level of common sense is not welcome in service.
@rab8198 🤣 apologies, what was I thinking?!
@@jonbeake3200 a sensible idea 🤣
Question what's happening to the MOD houses that are rented out? With the shortage of housing and the smaller army, some people are renting these houses in areas where there is no availability and paying double or more than the rent that the army is paying.
Check your package 😅
I remember signing up for a longer period to receive a retention payment. I didn't get it. Don't believe a word you are told.
Read rich dad poor dad then watch this video it will make you think about how the Majority get money so wrong
I've read it. Very insightful. Just as the plethora of other books I've read. Unscripted by MJ DeMarco is a personal favourite.
You will never be wealthy by being a solider Read Rich Dad poor dad and you might change your view I did when i was serving and i stated building wealth when i was in green I left with five years in green which was great But I am glad i did not stay in green
I've read it thanks, I even recommend it in one of my videos. And as a result of that book and many others, I'm doing very well. Being a soldier might limit to a certain extent but it certainly doesn't make becoming wealthy impossible.
Someone, somewhere, is making an awful lot of money at taxpayer expense.
My unit done me a favour and extended my service by a half a year to qualify for the pension rank I left on. Meaning I would have lost out because of that rules I needed to in the rank for two years.
I remember getting £14.45 a day in 1987, which equates to 60p an hour. People say, well you don't work 24 hrs a day, I disagree, it was incredibly busy period of the British Army history, we were in and out of Northern Ireland several times,5 times, travelling to Germany on month exercises. Including getting deployed to Iraq 91, Kosovo. Not including the predeplyment training.
Thanks a lot mate, as a 33 year old Marine, having done 15 years already, I needed a lot of clarity on things such as pension, that I never really received. Thanks to you, i've made the significant decision to invest my accumulated savings more wisely, and more importantly, contribute to my pension, as well as consider my final rank/paycheck, being on the 05 scheme Legend
It’s ridiculous that they set it to dates not if personnel have served 3 years, this will make those who miss the eligibility date by a few months or a year to sign off as it feels like not being valued
I don't know your situation mate but in my experience the chain of command's attitude is your a private you'll like it and lump it .... which I'm sure in no way is related to why they need a payment in the first place.
Really helpful mate, glad your channel exits
The way the MOD treats those injured regarding pension payments etc is shocking and deserves a video of its own. The process is so degrading, humiliating and damaging that it leaves the veteran broken through moral injuries, frustration and deep depression. This veteran goes on to influence many people who may have joined or are considering leaving the army, especially now he has a voice on social media. The government are aware of this, hence the various name changes throughout the last twenty years.
There is no such thing as a local contractor these days, so a man went thirty miles to fix a window handle but had to report back that a new one was required OK we will order one and you can return when we have it. Van picks up washing machine and takes it twenty plus miles , wrong type of machine return change machine and return next day, this is the life of a maintenance men I have spoken to.
What a shambles of an arrangement. Thank you for your very clear video. Super scripting and visuals! We should never sell our assets to provide short term working capital. We need to pay as we go and to fully fund the services we need.
I remember at the time people thought it was a strange move, but military housing was so poor it was believed things could only get better. Well, history has shown otherwise, and I am happy that rather than double down on a bad decision , the MoD is going to rectify it.
This is what we needed I think. Can we also get rid of this PAYD and the Maintenance Contracts Serco, Sodexo, ect are rubbish and are not fit for the job I have been in the Army 18 years and have seen a massive decline is SP heath they choose to eat out over the cheap and terrible meals provided in some Camps also civilian cleaners just turning up making brews because the block jobs have already been done Civilian MT Drivers refusing to pick up people from Ops because it means they will get back late. I could go more into this but not on here .
Agreed. Get rid of PAYD and bring back DMR. And before people whinge about meals not taken at weekends, there is a little known function on JPA to claim those meals back. Feed people properly.