European Stars And Stripes (Newspaper) - October 24, 1986, Darmstadt, Hesse                                The ideas not to waste Money on things you Don t need Michael l pea and James t. Cartwrigh know thai in takes restraint to live within their  army specialist hours they be Learned to get the most out of modest military paychecks. Despite the tailing Dollar and the Many temptations to spend Holh Are Squir reling away Money on a regular basis. Out of necessity the priorities of the iwo truck Drivers assigned to he co end in 32nd Armor Are different. Pea 31, a Bachelor lives in the Barracks at Ayres Cavern a Hilltop outpost near Kirch Goens Germany. Cad Highl. 21. Lives with his wife Tina and son Bobby 8 months in the Village of Hollenberg tour Miles from the Cavern. Ever since the two met they be been talking about personal finances. Both say they be been Able to savor overseas duty because they have Money in the Bank. Their ideas sometimes differ. But the results Are similar. Carton Gill budgets. Pea does t. With the Mark jumping up and Down i find i have to budget to know what i m doing Cartwright says. I know he works at lha budget.  putting Down expenses pea says. I Don t budget. But i control expenses it you want to be responsible with your personal savings Asa percent of income after taxes 1975 76 77 78 79 80 81 62 Sajiw Chicago Tribune graphic source . Department of Commerce Money you have to sit Down and think about what you re doing pea saves by not owning an automobile. I Don l have car payments. I Don t have the expense of Auto insurance gasoline or repair Bills pea says. Usually i can get a ride to town and when i make a longer trip i find the German transportation system is  Carlo right needs a car because he lives Oil base. He s ordered a new subcompact to replace a 10 year old Sedan but says hell be Able to save $200 a month even after making car payments. Pea saves about a third of his spendable income. The problem with a lot of the younger troops is that they want everything now pea says. When you a 18 or 19 you think a 30-year-old is ancient. I was the same Way. But at 181 was in College. And i had a lot less spendable income than the Young troops in today s  Cartwright finds enough Cushion in his budget to go w ant to avoid the Drudgery of oiling Down All those Nickel and dim expenses the five by five planned spending program May be just lha tool you need. For a number of service members it s achieving the same results As a formal budget without the bother of keeping detailed records. Developed in 1974 by Pete Phillips currently manager of the military banking facility in Kirch Goens Germany in a a shorthand method to controlled spending and regular saving. In essence it s a budget without lha name Phillips says. Simplicity is the reason Tor its  in practice it divides an individual s or family s spendable monthly income into five equal increments. One of these automatically is transferred into savings at 6w percent interest. The other four Are withdrawn every seven or eight Days to meet current expenses. The in Gram owe it name la. The live increments and the prevailing 5 percent interest at the time in was developed. Us Success rests on accurately determining spendable income. To is derived by subtracting monthly expenses from net monthly income. To calculate total Nel income the net income figure from the Les ten and earning statement should be  Al other Rel income including. Money earned by a spout. Pm Cert right left Andulce Taitl Paa have def feint out Lor dinner two of three crimes a month and to make Short week end trips. There s no need to be a  pea says. You be got to spend some Money to enjoy an overseas tour. The idea is not to waste Money on things you Don t need or to blow in foolishly on a High  . A budget without the name expenses Are computed by listing monthly Bills rent car payments gasoline irian and credit card payments Etc. It s important Phillips Points out to list All expenses. The figure Hal is left after subtracting expenses from net income is spendable income. Before dividing this by five. Phillips recommends that the Odd dotes anything less than $10 be left in the checking account As an error serve. Example if there is $307 of spendable income $7 remains in checking. The remaining 1300 la divided by five. This results in five $60 increments. One of these automatically goes into sayings. The other four Are available for use during the month for living expenses. Premiums new tires for the car vacation Money Etc., will be paid from savings As they occur. Sure pay direct Deposit from military pay cellar to Bank and automatic savings of a Firth of spendable income Ere necessary features of the program. It s simple and it works Phpps says. All ii requires is that account registers be accurately maintained and mat clients limit withdrawals from savings to lha our fax Daler mined increments a month. Thai Way Usfo i Atway be. Enough to cover the irregular bils instructions and worksheets Tor  spendable income Are Eva Habte at the kerch Coena Branch. American expose military a Curtin Otter. Courses or seminars b financial Nunag Tinnent Page 14 the stars and stripes