Entering the CF and YOUR Money....

[aesop081]

It wasn't you Springroll that I was referring to about assuming. It was directed to aesop081.That was to you.

I didnt assume anything.  I was telling you why your credit situation affected your application.  You have a problem with that, Wal-mart is hiring.

It's a soldiers right to b**ch

Since you aren't a soldier.......

 

[ready to go]

All testing done and everything is good to go. My recruiting interviewer told me, regarding the credit issue, that as long as I have made payment arrangements that the creditor agrees to in writing then it's not an issue: piece of cake . He told me as long as I get that taken care of and get a letter from the creditor to him he will ensure that the CF does their part (admin stuff) and there will be no problems. C U in August!

 

[cftoronto]

A friend of mine said he had to pay for "mess". Does the $600/paycheque include paying for mess?

 

[George Wallace]

Yes.  Mess Dues do come out of your pay.  I am sure $10+/- isn't going to bankrupt you.

 

[a78jumper]

Wow a bargain, I was paying $35 a month for a Bn Officers Mess in 1981.

 

[Armymedic]

Wow a bargain, I was paying $35 a month for a Bn Officers Mess in 1981.

Officers  :

I pay $17 for the Sr NCOs mess, + a couple for unit funds. Mess dues are nothing...

Rations and Quarters on the other hand....much more, but it is taken out of you pay before it hits your hands.

 

[tyciol]

One rule when you enrol - unless you absolutely need a car don't have one.  Take the equivilent amount of payments, gas and insurance and invest it.  It's amazing the number of guys I interviewed after their first BE who had nothing to show for it.  After three years of living in the 'shacks' with no kids and no car, I had $30,000 for a down payment on a condo.  During those three years of investing I still had almost $500 a month to blow on whatever I wanted.  An incredible amount of disposible income that I wish I had now... (two cars three kids).

I like the way you think, if you can get away with not using a ca it would be great.

 

[Lazarus**]

how will I know that the financial adviser wont try to screw me over?
I'm not very proficient in financial matters, especially when they use their terms like fiscal year, and so on and so forth

 

[BernDawg]

Go with SISIP on base.  They're on salary. 

 

[Lazarus**]

Go with SISIP on base. 

I checked out their website and it looks like they have their sh*t together  ;D
that puts my mind at ease.

 

[megany]

how will I know that the financial adviser wont try to screw me over?
I'm not very proficient in financial matters, especially when they use their terms like fiscal year, and so on and so forth

I would also take the opportunity to read up on basic investing - you can get decent money management books from any public library or from Chapters.  Even something like the Wealthy Barber will help you learn how to manage your funds.  It's important to note that you can't just rely on a financial advisor (whether on salary or not) because in the end it's YOUR money and your hard work that they're going to be taking care of.  Even if you have a rough idea of finance it will help...

 

[Brett2692]

how much is earned in a day of reserving?

 

[aesop081]

how much is earned in a day of reserving?

Ever think of looking online ?

http://www.forces.gc.ca/dgcb/dppd/pdf/Reserve_Force_Officer_07_e.pdf   

http://www.forces.gc.ca/dgcb/dppd/pdf/Reserve_Force_NCM_07_e.pdf     

 

[jacksparrow]

Thanks to the author of this thread, good advice and I plan to follow this once I get to basic next month

 

[Celticgirl]

I've been looking at the pay scales for reg force officers, and I can't find the information re: how much you receive as an Officer Cadet if you are DEO. The link for Regular Force Officer Rates on the recruiting site only lists A and B pay categories for Officer Cadets, but DEO officers are category C.  ???

 

[George Wallace]

I've been looking at the pay scales for reg force officers, and I can't find the information re: how much you receive as an Officer Cadet if you are DEO. The link for Regular Force Officer Rates on the recruiting site only lists A and B pay categories for Officer Cadets, but DEO officers are category C.  ???

There are no DEO OCdts.  They are 2LTs.

 

[Adamant]

There are no DEO OCdts.  They are 2LTs.

Incorrect, we are OCdt's during BOTC and receive our comission at the end of the course.

That being said we are paid as 2Lt during that time.

Edit to add qualifying information.

 

[Celticgirl]

That being said we are paid as 2Lt during that time.

Really? Wow. Thanks for the info!

 

[apache2001]

Incorrect, we are OCdt's during BOTC and receive our comission at the end of the course.

That being said we are paid as 2Lt during that time.

Edit to add qualifying information.

What do you mean incorrect?  It is exactly right. On the pay scale you can't see DEO OCdts pay.  However as a DEO you will be on a 2Lt pay during BMOQ and you are an OCdt until commissioned 2Lt. 

 

[aesop081]

It means your entry is a DEO and your rank is an OCdt but you will be paid as a 2Lt.