How To Save Money As A Lone Soldier

The image below explains how a financially responsible soldier can save almost 35,000₪ throughout their service!

By putting aside a portion of your monthly salary, you can easily save up large amounts of money throughout your service.

Here are a number of tips for succeeding in doing this:

1. Open up a חשבון חיסכון (savings account) with your bank! By doing so, you will enable your bank to move __₪ from your bank account each month (on the day of your choosing, preferably not the first of the month, the day the army will be paying you). If you designate 500₪ to savings throughout only 18 months of service, you’ll already have saved 9,000₪!
2. You can change the amount of money designated to your savings account whenever you want. At the start of your service, you shouldn’t designate a large amount. As your salary goes up (as you go through different stages of training), you should enlarge the amount designated (in accordance to your financial situation).
3. Stay financially aware by keeping track of your budget. Write down exactly where you use your money and how much is used. Take a look at the end of the month and fix where needed!
4. Each month, the army gives 150₪ to Lone Soldiers for buying groceries from Supersal. If you don’t use it, this money will disappear. Make sure to use it all! (This money is automatically uploaded to your Army ID (חוגר) which is swiped at the store)
5. Don’t do the rest of your grocery shopping at Supersal, the most expensive supermarket in the country! Get to know the area you’re living in and find the cheaper grocery stores & markets.

How Else Can You Save Money?

By picking the proper living option.

Lone Soldiers have many options available to them when it comes to living accommodations. Each of them have advantages & disadvantages.

A number of points to think about before choosing:

1. Lone Soldiers are entitled to monthly rental assistance from the IDF of maximum 1300₪ per month.
2. You’ll be in the army most of the time. Most combat soldiers go home for the weekend every other week or so, between 6-9 days total per month.
3. One of your biggest potential expenses are going to be rent & the bills that come together with renting an apartment (electric, water, gas).
4. The army is a great time to save money as you wont be home most of the time anyways. Paying for an extravagant apartment during your army service probably isn’t the right thing to do if you’re trying to save money.

Lone Soldiers are entitled to a number of financial benefits throughout their service: