National Servicemen Full-time (NSFs): Your Ultimate Personal Finance Guide While Serving The Nation (16 – 23 Years Old)

3 min read

Winning the personal finance game when serving the Nation

National Service (NS) in Singapore is a statutory requirement for all male Singaporean citizens and second-generation permanent residents, and we understand how much of a drag the “Ah Boys To Men” journey can be.

In search of that little positivity in life, here are some ways to get your personal finance game in shape while serving the nation.

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The power of NS Allowance

There is a saying which says that serving the NS is like getting paid to keep fit and look at memes. This is true to a certain extent!

On top of the allowance we will be getting, here are some of the benefits we tend to overlook when in NS:

  • Gym for free! (Most of us end up paying for a gym membership when at work)
  • Meals are provided for (if you stop skipping the cookhouse for canteen)
  • Save on transport fees when you stay in camp
  • Save money on fashion since you wear uniform on weekdays

We did a calculation on how much one can save during his NS days in total:

How much can one save during NS?

With that, think of the money you can save during your NS days.

A simple rule of thumb for allocating your monthly allowance is as such:

Of course, while in NS, the rate of savings should be higher.

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NS Guide to Investing

When serving National Service, one can actually make better use of his time investing a small sum of his allowance.

We understand that the monthly allowance may not exactly that high, but the best time to kick-start our investment journey is as young as possible!

” The best time to plant a tree was 20 years ago. The second best time is now.” – Warren Buffett

Content on investing for NSF

Firstly, one can use his free time and the weekends to gain knowledge about investing. Making smarter investment decisions involve getting the right knowledge and mindset to do so.

Once you are ready to start investing your first stock or investment products, here are some content which can help you out.

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Insurance: Aviva MINDEF/MHA Group Insurance

Most of us got introduced to insurance when we enter National Service.

I remember sitting in a lecture hall listening to an ex-army regular turned insurance agent talk about the benefits of Aviva MINDEF/ MHA Group Insurance.

Turns out years later, that is actually one of the cheapest Term policy around!

Coverage and premium rates of Aviva Group Term Life

Coverage Amount

Monthly Premium (S$) Member/ Affiliate Member/ Spouse/ Children

65 Years Old and Below66*67*68*69*70*

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Preparing for life after National Service (Career)

NS allows young male Singaporeans to mature and think about the next phase of their life better.

There are usually 3 scenarios when it comes to this:

  • NSF signs-on when he is in national service.
  • NSF finishes his national service and continues to further his studies.
  • NSF finishes his national service and pursues his career.

NSF signs-on when he is in national service

If you are thinking of signing on with the Singapore Armed Forces or Home Team, we did a compilation of all the sign-on bonus and starting salary.

SAF sign on bonus and starting salary

NSF finishes his national service and continues to further his studies

Should one decides to further his education after NS, the time in NS might be the best time to save up a bit of saving for school.

We understand that it is difficult to balance National Service commitment while having to worry about things in school such as education loan, hence, here are some content to help you out.

NSF finishes his national service and pursues his career

Should one decides to head out to the real world to pursue his career after NS, here are some guides to help you out.

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Making Even Smarter Personal Financial Decisions On Lifestyle Choices

Simple lifehacks to your lifestlye choices can actually help you save in the long-run.

Here are some content to make better lifestyle choices:

Tools to help you:

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