Posted on Jan 10, 2021
What are smart uses for the USAA Career Starter Loan if you graduated debt free?
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I read this article:
https://the-military-guide.com/how-to-smartly-use-the-usaa-career-starter-loan/
I just want to know what other uses there might be. Or if I simply should not use it at all. Note: I am getting married this October to an Army officer, my car is in its last years, and I am entering the Reserves as an MI officer. I also only have about 10 grand to spare. What did you use the loan for?
https://the-military-guide.com/how-to-smartly-use-the-usaa-career-starter-loan/
I just want to know what other uses there might be. Or if I simply should not use it at all. Note: I am getting married this October to an Army officer, my car is in its last years, and I am entering the Reserves as an MI officer. I also only have about 10 grand to spare. What did you use the loan for?
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FinanceLoan Specialist
FinanceLoan Specialist
Posted 4 y ago
Responses: 4
2LT (Join to see) I agree with Col Tri Trinh. Use loans sparingly. Save money for emergencies, major expenses, and eventual retirement. Live beneath your means and save as much money as you can. Invest in retirement/savings plans and learn investing. Good luck.
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What do you need the loan for? If you don’t need anything, don’t take a loan because you’ll be in debt.
Save your money and invest 10-15%.
Save your money and invest 10-15%.
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Cpl Vic Burk
Agreed. If you don't need a loan why would you want to take one out and have to pay interest on it? I paid off my house in 1998. Currently, my only debt is my monthly bills and it feels great! While my colleagues are sweating their home/loan/credit cards I am sitting on easy street. Don't borrow if you don't need to!!!!!! (Bankers hate us folks who won't take out loans!)
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Good article. I used mine to help pay for lots of unexpected expenses that popped up at the start of my adult life. Develop a good financial plan and follow it, but things never turn out as planned.
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