Welcome to the world of adulthood. Step right in, and take a look around. If it seems scary, that’s because it is, right now. You may not have all the life skills needed to make it in this world of grown ups and adult responsibility. If you don’t know the first thing about bank accounts or budgeting, don’t panic. Someone was supposed to teach you this stuff. If they didn’t, the failure’s on them, but the responsibility is on you. You’re capable of becoming a kickass adult, but you have to take one skill at a time. Graduation, coming of age, or whatever your initiation ceremony is, it isn’t enough to poof you into adulthood. You have to take this step by step.
Speaking of which, there are five basic things every adult should know. Stay on track with all these, and you’ll be a whiz in no time.
Budget Like a Boss.
One of the first things you should know how to do is budget. Make an Excel document with categories for your groceries, rent, utilities, potential car repairs, savings account, and college loans. Every time money comes in, divide your income accordingly between these categories. This way, you won’t spend too much.
Live Within Your Means.
If you can’t save part of your paycheck, you’re living wrong. It might sound harsh, but it’s true. Failing to live within your means could–not to scare you or anything–mean a lifetime of misery. Yes, a lifetime. Don’t gamble with your future. Stay small, work hard, and always put money aside.
Invest.
Right now, you might only think of how to get a job and keep it. It’s not too early also think about retirement, though. You don’t want to be one of those elderly people who still works at the post office because they can’t afford to retire, so start taking care of your future today. You should do research on the stock market and look into top gold stocks to buy now.
Know How to Buy a Car.
You may have a car of some kind, but your parents might have bought it for you, or helped you choose it. Before it’s time to buy a new one, you should know how to buy a car the right way. Do plenty of research on reliable models and fair prices before going into a dealership. Newer is often better, and you can consider Chrysler extended warranties, if you think it will help your financials.
Do Taxes.
Scared, yet? Taxes might sound like the worst part of being an adult and, let’s face it–they might be. However, that doesn’t mean they must pose a major challenge. Set a weekend aside on your calendar, well before taxes are due. Unless you work for yourself, your taxes should be fairly straightforward. You can use an automated program like TurboTax. We promise it won’t be that bad.
