The Savvy Squaddie
@savvy_squaddie
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On a mission to improve the financial prowess of the UK Armed Forces.
Joined December 2021
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Pinned Tweet
The 30 Minute Pension Brief You Need!
Serving in the Armed Forces is the first job for many and they are exposed to one of the best workplace pension schemes currently available out there.
Yet, many people don't realise this. Many serving personnel don't understand how
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@MilitaryBanter
Perhaps we ban alcohol in the senior/officer mess then? Excessive alcohol consumption is not exactly good for your brain or body either.
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The New Accommodation Offer rolls out from the 11th March. Are you aware of some of the big changes to the accommodation policy?
@DefenceAccomPol
@DefenceHQ
@mod_dio
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AFPRB 2024 pay recommendation has been accepted. Base pay will increase by 6% for OR2-04 and above from 1 April 2024.
More to follow in an upcoming video.
Happy with that. Wasn't expecting it to be that much.
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Have you ever requested your one free annual armed forces pension forecast? Do you know how to read and understand one? In this video, I explain how to do both of these things and more.
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Leaving the UK Armed Forces after 12 years of service? Then you could be entitled to the Resettlement Grant. A tax-free lump sum of over £13,000 which can be spent on anything.
To learn more, watch this video.
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From Private to General, how much is each rank paid in the British Army?
Interested in seeing how much your Commanding Officer is paid? Then make sure to watch this video. You might be quite surprised at some of the numbers.
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I don't know who needs to hear this but a 6% rise in accommodation does not cancel out a 6% rise in your salary.
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The AFPS Form 1 is pretty important and not something you want to mess up during resettlement.
The JPA version will be what most people use but as I can't show that here is a walkthrough of the paper version.
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Nearly 150 pages and 23 different recommendations. I go through some of the main points from the AFPRB 2024 report and clear up some confusion with whom the pay award applies to.
Check it out.
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The Modernised Accommodation Offer is set to launch on the 11th March.
It's a bit more stripped back then the initial New Accommodation Offer but some elements are still going live on the 11th.
Watch the video to learn more.
@DefenceAccomPol
@DefencePeople
@RAF_FF
@The_NFF
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Use them or lose them!
Not long left to use this years Standard Learning Credits. Make the most of it and get yourself on a course.
Want to know more about SLCs? Then check out this video.
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@SSN14CO
This may have been true back in the 60s but not so much anymore. There are many countries within the OECD that are taxed much higher than us.
Would highly recommend the book, Follow The Money: How Much Does Britain Cost by Paul Johnson to learn where the money does go. It's a
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Appreciate the opportunity the team down at the Centre For Army Leadership gave me.
Was a fun chat and is worth a listen.
Not biased at all.
🎙️NEW EPISODE🎙️
The Human Advantage - Episode 16: The Savvy Squaddie - Corporal Cameron Eden
Listen here:
🎙️Podbean:
🎙️Apple:
🎙��Spotify:
🎙️Audible:
In this episode, our host
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If you're not overly happy with the New Accommodation Offer then a petition has been started which you can sign.
Not sure if this will do much but time will tell.
MoD’s “New Accommodation Offer” is about to be launch. While the changes are good for some, most married officers will have their housing entitlement cut by around 40%.
This significant cut in conditions which will drive many officers out of the services.
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Received an unexpected but certainly welcome surprise today.
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Needs Based Allocation has been paused...for now pending a review of the Modern Accommodation Offer.
Paywall free version of the article.
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I had the opportunity to chat with one of the Allowances Policy team and I asked him a number of questions which were submitted by my Instagram audience.
Will imparts important context and explains the WHY behind the methodologies of some allowances.
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Are the Armed Forces still an attractive career option?
I think so and in my latest video I set out the reasons as to why people should join the military.
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@NatashaMDay
Mate of mine just finished working with someone called Keith. He's visually impaired so they called him Keth, because he's got not "i's". Had me in stitches.
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Do you know where your Day's Pay Giving donations go? Are you aware of the thousands of people it helps every year?
In this video I hope to show you how valuable this scheme is and that your donations have a positive impact on peoples lives.
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Just doing the final touches on tomorrows video. Thumbnail is nipped though.
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Ever wondered why most serving personnel won't receive an immediate pension? Short answer - it's the law.
Find out more on both pay and pension from my chat with the policy team.
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With it being Pension Awareness Week, time to repost what I think is one of my most important videos. The Armed Forces Pension Scheme 2015 Explained.
The 30 Minute Pension Brief You Need!
Serving in the Armed Forces is the first job for many and they are exposed to one of the best workplace pension schemes currently available out there.
Yet, many people don't realise this. Many serving personnel don't understand how
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UPDATE 1: The 50 mile radius criteria for the SLA waiver is no more.
Now, as long as you have a privately maintained property you will be eligible for the SLA waiver, irrespective of rank, age or relationship status.
The Modernised Accommodation Offer is set to launch on the 11th March.
It's a bit more stripped back then the initial New Accommodation Offer but some elements are still going live on the 11th.
Watch the video to learn more.
@DefenceAccomPol
@DefencePeople
@RAF_FF
@The_NFF
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@NatashaMDay
Thankfully, whilst I was posted at AHQ, my wife was accepted into the community despite me being a full screw. They didn't seem to care what my rank was and she integrated well and was included. Helped alot for when I went away and she struggled with a new born.
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Why has there been an increase in people leaving the UK Armed Forces?
I play devil's advocate to the many reasons presented to me. Check out my latest video where I provide some much needed perspective and context.
#miltwitter
#ArmedForces
#britisharmy
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Some good news with regards to the Minimum Income Requirement (MIR) changes due soon which will affect Non-British citizens serving in the UK Armed Forces.
On 11th April 2024, the MIR is increasing to £29,000 and then to £38,700 in 2025.
However, rules for the UK Armed Forces
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The window for Commonwealth candidates wishing to join the British Army opens on Monday, 19th Aug for up to 1 week.
Only applications for certain job roles will be accepted and they must apply through the Recruit Bounty Scheme, except those wishing to join as a musician.
For
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I'll be tuning into this.
The Defence Select Committee’s inquiry into the the dire standard of service accommodation is sitting on Tuesday, 14.30. You can attend in person, or stream through the link below.
@DefencePeople
will be giving evidence.
@MilitaryBanter
@savvy_squaddie
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We hit 5,000 subscribers on YouTube and we are closing in fast on half a million views.
I'm so grateful for all of your support in helping us have a positive impact in the lives of our military community.
A QnA and giveaway in my next video. If you've any Q's, let me know.
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Due to the big changes happening with what is now known as the Modern Accommodation Offer (MAO), I have unlisted my video on the New Accommodation Offer (NAO) from Youtube to prevent any further confusion.
A new video on the MAO will be out soon.
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The new and improved Armed Forces Pension Calculator will go live from the 1st August. It will provide a side by side comparison for those affected by the McCloud Remedy.
I will do a video walkthrough of it once I get a chance to dig my teeth into it.
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If I could grow one, I would but a good move nonetheless.
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If you're serving in the UK Armed Forces and looking to tackle your debt, here are two popular strategies to consider: the Debt Snowball and Debt Avalanche methods. Let's dive in and find the right approach for you! 🧵1/10
#personalfinance
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🌍💰During Mental Health Awareness Week, let's explore the connection between mental health and personal finance. Maintaining a healthy relationship with money can reduce stress and enhance overall well-being.
#MHAW
#ArmedForces
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It's been a few weeks since the pay award announcement and we should see the back pay at the end of this month.
What is everyone going to use it for?
I made a video where I discuss the AFPRB 2023, incase you missed it.
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Am I the only one happy to see the holidays coming to an end? 🤣🤣
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Currently, there could be a £3,000 a year disparity between young families posted to Scotland/Wales compared to their peers in England due to the differences in government funded childcare with the mainland devolved nations.
This could expand to £6,000 per child, per year, come
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To finish Pension Awareness Week, I have put out what I think is one of my most important videos yet.
Want a comfortable and financially secure retirement? Then this video is a must watch, especially for those who have a few decades left to live.
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Ever wondered why you should be investing?
Well, here are 3 reasons why I think you should be.
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Felt odd walking into work this morning unshaven.
Felt reassured when I saw the CO unshaven too.
#ArmyBeards
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@SawyerMerritt
Great deal, took advantage of their 1.8% rate a couple months back with a Model Y.
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Many people in the
@BritishArmy
would recommend books on leadership but my latest video shows 5
#personalfinance
books that have really helped me and they could help you too.
#BooksWorthReading
#personaldevelopment
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Here is another 5 books I would highly recommend for people to read to increase their financial literacy on their personal finance journey.
Leave a comment on any books that you recommend.
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@jwalters87
@DefencePeople
Thanks for providing that. It's a really useful insight for sure. I'll be sitting down chatting with the policy people about this topic and one of the things we'll be discussing is the reduction in entitlement for officers. So this table is useful data for me to quote.
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Finally got access to Grok. First thing I ask it? To roast me and not to hold back.
It didn't disappoint.
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Many people sign off without fully understanding what the
#resettlement
packages have to offer. Just waiting a few months could drastically see the benefits available to them change.
In my latest video, I explain what resettlement has to offer.
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What don't I agree with?
My latest video on the Armed Forces Pay Review Body has been released.
Might cause a bit of a stir.
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Referencing image 2, it would appear we might hear something by the end of this month in relation to our pay award.
I'm optimistic.
It's been a busy Sunday morning on BBC One's Kuenssberg show.
Slide two here is a strong suggestion that Reeves will award public sector workers an above-inflation pay rise. I've tried to make that clear with a bit of editing, but I'm not sure I've succeeded...
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@dean1wg
Perhaps I was setting myself up for disappointment but I was expecting between 1-2%. So I am quite happy with that on top of the one off consolidated payment.
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The Early Departure Payment (EDP), do you understand it?
Well if you joined the UK Armed Forces after April 2005, then it pays to understand this very unique benefit and how it will affect your career and retirement.
#armedforces
#Military
#miltwitter
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🌍💙 It's Mental Health Awareness Week! We often prioritise physical fitness, but let's neglect our mental well-being. Our financial health impacts our overall mental wellness. Building a solid foundation for personal finance can enahnce overall well-being.
#MHAW
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You are able to increase your annual pension by a total of £6,500 via Added Pension under the AFPS15.
But this will cost you anywhere between £50,000 - £200,000 in personal contributions.
Is it really worth it?
Head to my YouTube channel to find out.
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PAY RISE!!! 💰
Rishi has accepted the recommendation and the Armed Forces will be getting a pay rise of 5%.
Is it enough? More than you thought?
#miltwitter
#PublicSector
#armedforces
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@engines201
@DefenceAccomPol
@DefenceHQ
@mod_dio
It's a light-hearted bit of banter. People are reading too much into this. Check out many of my other videos. I poke at both ORs and OFs. This is not something new and something I will continue to do in future videos.
Why? Because it grounds the video in reality. It makes it
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The latest update to the Armed Forces Pension Calculator includes dual projections for those who are in scope for the 2015 McCloud Remedy.
Want to learn how to use and understand the new calculator?
Then check out my latest video.
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@Foxy2Para
Much more than I expected and very happy with it.
Let the moaners moan. Winning the lottery still wouldn't be enough for some of them.
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Is the
@BritishArmy
paid above National Minimum Wage? Watch my latest video to find out.
#britisharmy
#ministryofdefence
#personalfinance
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@MilitaryBanter
I have found something similar when it comes to finances with both serving and veterans.
Certainly there are issues with the renumeration within the Armed Forces but the expectation for the military to fund peoples poor financial choices in life is top level entitlement.
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For those who may have missed the
@ForcesPensions
very useful brief yesterday afternoon, there will be another pension brief today at 1330 presented by the White Ensign Association.
Register for the brief at this link.
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We've had the Petition against the New Accommodation Offer and now here is a new one FOR the NAO.
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@CultureChangeW1
@jwalters87
@DefencePeople
I'll be chatting to the policy team in the next month or so for an episode and I'll be asking many questions on this to try and guage the reasoning behind these new changes.
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The British Army have introduced a bounty scheme for serving regulars and reservists in which they can sponsor a new other rank applicant and receive a taxable payment of £500 once they start phase 1 or mod 1 training.
#BritishArmy
#miltwit
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@MoneySavingExp
Between £65 - £70 a week for my family of four. The other half is great and meal plans and cooks most things from scratch. It does take more time but saves money. You'll often pay a premium on things which save you time.
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Around 11% of the
@BritishArmy
could be eligible for Universal Credit. During this cost of living crisis, it may be worth checking to see what benefits you could be entitled to.
My latest video helps explain all.
#UniversalCredit
#CostOfLivingCrisis
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What websites do you use to help with your financial journey?
In this video, I list my top 5.
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@Alan_K_Sweeney
@DefenceAccomPol
@DefenceHQ
@mod_dio
Yes, you will pay for the size of the house. So if an OR moves into a 4 bed house next to an OF, they will both pay the same amount for the property.
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The New Years Honours list, firstly well done to all those who have been recognised.
But secondly, I have a genuine question which I hope some of you can shed some light on.
These numbers are specific to the Army as I couldn't find the makeup of personnel for the Navy or RAF.
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@JSHeappey
@ForcesNews
The SFA charge being frozen is a very nice addition and much appreciated. It's good to see some form of provision to SP in SFA due to the poor performance from the accommodation contract.
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£10 Million was spent on Disturbance Expense last year. It's an allowance that helps with the inevitable costs that come with moving. And being in the military, we do a lot of that.
In this video, I cover what you need to know when it comes to Disturbance Expense.
#miltwitter
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Do you struggle to understand what allowances you could be entitled to?
There's a very handy guide on the Gov website which can help.
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During my first day at unit, I vividly remember being told that I had to pay into the One Days Pay Scheme or go infront of the RSM and explain why.
As a brand spankers new bod, the threat of the RSM is enough to coherce people to pay what is a voluntary contribution.
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I wonder if the wife would be mad if I spent our emergency fund to buy the dip?
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@SO2portaloos
Genuine question, how are you coming to the conclusion that most will be worse off?
I would agree that objectively with how needs based allocation would be implemented would reduce the officer offer but it would also open up SFA entitlement to thousands more. Seeing as ORs
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@NatashaMDay
Real handy calculator. Made this video a year ago to help highlight what people don't seem to understand.
I'd have to earn an extra £20k a year in Civvie street to live how I do now. Not likely I'll walk straight into a job that pays that.
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Check out the Money Makeover section where I outline 6 steps to take for a personal financial audit this January to set you up for 2024.
Huge thanks for all the reposts and feedback on our January magazine. A reminder that you can read the digital edition here
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The SLA waiver is being extended for at least 12 months and being expanded to include extra cohorts.
This is due to feedback from service personnel highlighting the issues that removing it will cause.
For the RN and RAF, those is PStatCat 1 and 2 will continue to receive the
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@Mr_Andrew_Fox
It's a bit outdated now but it still came to around the same number I came to when I figured out how much I would need to have to live the same lifestyle on Civvie street. Albeit it's a year old now, here's the video explaining it all.
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@CSM_UKSTRATCOM
@ForcesPensions
Many thanks, the goal is to have a positive impact on the lives of serving and ex-serving personnel and their families.
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Level up your skills with SLCs! Wether you're a regular or reserve, you could receive up to £175 a year towards personal development with Standard Learning Credits.
For much more info, check out my latest video.
#personaldevelopment
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Some really interesting charts in this thread which can help with perspective and the importance of long term, buy and hold, investing.
8 charts that every investor should know:
1) A comparison of the last 100 years of stock market returns for the S&P 500.
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Compound Interest can be both a friend and a foe. Learn how you can harness its power with this video.
#compoundinterest
#personalfinance
#FinancialFreedom
#militaryfinance
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Spending the night, updating and improving my budget spreadsheet ready for 2024.
Anyone else love a good spreadsheet? Or is it just me?
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Investing in funds is generally quite safe but it can be confusing with all the different types.
This video sets out to explain the fundamentals of index funds, mutual funds and exchange traded funds
#indexfund
#investing
#personalfinance
#mutualfunds
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In this months edition of Soldier Magazine, you might find some handy information on the Early Departure Payment from some random cartoon soldier.
In September: We look at how armoured exercises are changing, examine opportunities for RMP Reservists and celebrate 50 years of AT. Elsewhere, we meet movie pros helping the cavalry better deal with dismounting under duress. See the digital issue here
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It's Pension Awareness Week 2023 and the MoD have a bunch of things lined up to help inform you on all things pensions.
If you want to Ask An Expert, then click the link and use the code
#PAW2023
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Have you used the Armed Forces Pension Calculator since it's update?
Are you affected by the 2015 Remedy? Then you should really make use of this resource.
Here is a link to a recent video on how to use, read and understand the forecasts.
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@SO2QuietQuitter
@DefenceAccomPol
@DefenceHQ
@mod_dio
@DefencePeople
Not sure internal comms would appreciate my occasional pokes at ORs and OFs 😂😂
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Start this new year off by investing in the best thing you can. Yourself!
#BritishArmy
#personalgrowth
#investing
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