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)

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  Military pay + benefits = disposable income = temptation.

  
  


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  David’s early story: tattoos, Harley, blown cash post-Afghanistan.

  
  


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  Fix: Pay yourself first (TSP, savings) before you ball out.

  
  

2. Buying the Wrong Car (at 20%+ Interest!)

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  That Dodge Charger is eating your future net worth.

  
  


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  Car dealers don’t love you—they love your LES.

  
  


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  Fix: Delay gratification, buy used, keep costs low, invest the difference.

  
  

3. Ignoring the TSP

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  Free government money = 100% instant ROI with matching.

  
  


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  Roth TSP + tax-exempt combat pay = long-term tax-free growth.

  
  


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  Fix: Set it up early, contribute at least 5%, and skip the guru hype.

  
  

4. Rushing into Marriage (Bah ≠ Love)

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  “Marrying the stripper” is code for not vetting your partner.

  
  


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  Divorce is emotionally and financially devastating.

  
  


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  Fix: Treat dating like a vetting process. Seek red flags, not butterflies.

  
  

5. Not Using the VA Loan Properly (or Early Enough)

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  Most service members wait too long, or work with the wrong people.

  
  


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  Fix: Use it to house hack early—live for free, build wealth fast.

  
  


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  Join David’s free weekly webinar to master the VA loan game.

  
  

💥 Bonus Tactical Tips:

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  Deploying soon? Max your Roth TSP with tax-exempt combat pay.

  
  


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  Transfer your GI Bill during your first reenlistment—just give 1% to start.

  
  


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  Don’t bet your future on a pension—build wealth now, so retirement is optional.

  
  


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  Plan your transition early. Losing BAH, BAS, and Tricare is a financial punch in the gut if you’re not ready.

  
  

📘 Free Resources:

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  Download the Free Book: The No B.S. Guide to Military Life

  
  


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  Join the Facebook Group: Military Millionaire Community

  
  


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  Attend the VA Loan Webinar: Register Here

  
  


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  Apply to The War Room Mastermind: https://www.frommilitarytomillionaire.com/mastermind-application 

  
  

💬 Let’s Connect:

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  Subscribe on YouTube: From Military to Millionaire