Posted on Feb 10, 2022
How do you help a financially irresponsible soldier?
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I'm trying my best to juggle personal tasks and my soldiers but it's been tough being able to focus on both. It seems I'm always missing something. I currently have three soldiers and one of them is damn near broke a week after payday. He's E-4, makes around $930 after taxes/TSP every two weeks. We've been through a company finance class, in-office class and the SM has had a visit with the finance CTR in our unit all within the past six months. Somehow he ends up with no money before his next paycheck... I have counseled him on managing his finances and to write a report on what he spends once a week but I somehow feel he's not telling me the truth. That he's lying about what he's really buying or paying for.
Being a fresh NCO, I'm still not sure of my limits when it comes to finances nor am I the type to get into one's financial privacy thus why I trusted him to write me an accurate weekly report. However, something isn't adding up and I would like to get to the bottom of it. If it's really necessary I don't mind taking a look at his bank statements and view his credit card statements over the past few months so that I can come to my own conclusion. Is that allowed or stepping over the line?
He only told me of his balance when I asked the other day, during his monthly counseling beginning of the month he was fine. No expensive car, no major purchases that I've seen...
Being a fresh NCO, I'm still not sure of my limits when it comes to finances nor am I the type to get into one's financial privacy thus why I trusted him to write me an accurate weekly report. However, something isn't adding up and I would like to get to the bottom of it. If it's really necessary I don't mind taking a look at his bank statements and view his credit card statements over the past few months so that I can come to my own conclusion. Is that allowed or stepping over the line?
He only told me of his balance when I asked the other day, during his monthly counseling beginning of the month he was fine. No expensive car, no major purchases that I've seen...
Finance
SPC
Military Pay
Values
Career Counselor
Edited 3 y ago
Posted 3 y ago
Responses: 14
You've done everything you could do. Trying to help him build a budget and control spending is going an extra mile. I would add that you need to stress to the SM that they're at risk of losing their clearance
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LTC Jason Mackay
I agree. What I read in the OP was really solid mentorship. If he has a stripper habit or something similar, you can give the tools, you can set the example, you can get them help, but at some point they have to pick up the ball and run it. He either can’t or won’t. You’ve done what you can.
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I always kept enough for smokes, a haircut, and laundry, but my pay was gone by Sunday apart from that. Its part of being young and not thinking past today. If I had it to do over, I would have gotten rich lending 10 for 20 on payday, which the ones who were smart with their money did back then.
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It seems you are doing well at what you can do for the soldier. Obviously he's had the check writing classes and how to balance his account. The only other thing I would suggest would be for him to get a Debit Card so that, say $150 a week, would be deposited every week. At the end of the month the rest to be placed in a saving account not on the post but maybe at his home-of-record. When the debit card was empty - no more $ until the next Monday. I say Monday because if it was Friday there wouldn't be $ there after the weekend.
I would emphasize that you can't make those decisions for him. If he does choose to follow that regiment then he could still change it whenever he wanted/needed (after counseling with COC) but would have to go to the bank to do so. The money at the other place saving account would be more or less out of sight/out of mind.
Best of Luck. Recommend this action be briefed to your COC so when he starts complaining (I expect him to do so) you are protected from the IG. The only alternative may be to discharge him - which probably isn't in his best interest. Sounds like he just needs to mature.
I would emphasize that you can't make those decisions for him. If he does choose to follow that regiment then he could still change it whenever he wanted/needed (after counseling with COC) but would have to go to the bank to do so. The money at the other place saving account would be more or less out of sight/out of mind.
Best of Luck. Recommend this action be briefed to your COC so when he starts complaining (I expect him to do so) you are protected from the IG. The only alternative may be to discharge him - which probably isn't in his best interest. Sounds like he just needs to mature.
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