5 Money Traps Service Members Fall Into (Before It’s Too Late!)

5 Money Traps Service Members Fall Into (Before It’s Too Late!) Hosted by: David Pere Episode Type: Military Finance, Mindset, Real Talk Length: ~21 minutes Watch on YouTube: Watch Now 🚨 In This Episode: Why do some service members leave broke… while others walk away millionaires? It’s not luck—it’s mindset, discipline, and tactical decisions. David breaks down the 5 most common financial traps that crush service members—and how to avoid them like a surprise field day on liberty weekend. 💣 Key Mistakes to Avoid: 1. Living Like You’re Rich (When You’re Not) Military pay + benefits = disposable income = temptation. David’s early story: tattoos, Harley, blown cash post-Afghanistan. Fix: Pay yourself first (TSP, savings) before you ball out. 2. Buying the Wrong Car (at 20%+ Interest!) That Dodge Charger is eating your future net worth. Car dealers don’t love you—they love your LES. Fix: Delay gratification, buy used, keep costs low, invest the difference. 3. Ignoring the TSP Free government money = 100% instant ROI with matching. Roth TSP + tax-exempt combat pay = long-term tax-free growth. Fix: Set it up early, contribute at least 5%, and skip the guru hype. 4. Rushing into Marriage (Bah ≠ Love) “Marrying the stripper” is code for not vetting your partner. Divorce is emotionally and financially devastating. Fix: Treat dating like a vetting process. Seek red flags, not butterflies. 5. Not Using the VA Loan Properly (or Early Enough) Most service members wait too long, or work with the wrong people. Fix: Use it to house hack early—live for free, build wealth fast. Join David’s free weekly webinar to master the VA loan game. 💥 Bonus Tactical Tips: Deploying soon? Max your Roth TSP with tax-exempt combat pay. Transfer your GI Bill during your first reenlistment—just give 1% to start. Don’t bet your future on a pension—build wealth now, so retirement is optional. Plan your transition early. Losing BAH, BAS, and Tricare is a financial punch in the gut if you’re not ready. 📘 Free Resources: Download the Free Book: The No B.S. Guide to Military Life Join the Facebook Group: Military Millionaire Community Attend the VA Loan Webinar: Register Here Apply to The War Room Mastermind: https://www.frommilitarytomillionaire.com/mastermind-application  💬 Let’s Connect: Subscribe on YouTube: From Military to Millionaire