You may have heard the word “adulting” being thrown around occasionally. It sounds like something totally made up, but it has now been established as the term used to describe activities that an adult person would do.
This word encompasses the essence of what adults would normally do in one’s society—getting jobs, paying bills, driving—and has since been used in the past few years.
While it does allow people to have a word that describes what it’s like to be an adult, it seems to only resonate with those new to adult life. Those who are yet to experience the joys, the frustrations, the casual fulfillment, and the constant monotony of being an adult.
True enough, being an adult can be quite a long and confusing ride. And being told to get a job and pay your bills does not necessarily clear up the uncertainty. There are a few things you should know before taking entering adult life.
Learn How To Save Money
Your early adult years might be when you experience being fully autonomous from the comforts of your home and the safety net that is your parent’s financial support. If you are willing to take on this autonomy within the first chance your get, you may be surprised that you have to pay for almost everything to support your needs.
This includes rent, food expenses, transportation expenses, and miscellaneous expenses. All these can get heavy, especially for fresh adults who are yet to establish their finances.
For that reason, every young adult must learn to be thrifty and save every cent they can spare.
The 50/30/20 Rule
To witness your money grow, you need to be systematic in the way you spend your hard-earned cash. There are many ways to be systematic about your process of saving money, but one of the more popular ways of doing it is through the 50/30/20 Rule.
This rule states that you should spend 50% of your post-tax income on your needs, 30% on your wants, and save the remaining 20%.
Your needs should include your utility bills and other expenses, such as food and transportation expenses. If you have other obligations to spend on, such as contributions or insurance, this is where you will file them under.
Your wants are, of course, things and experiences that let you enjoy life a bit more— new shoes, new furniture, luxurious trips to restaurants, books—everything that you want and have but do not need, should be filed under this category.
And lastly, your savings. This rule states that 20% of your income should go here. This seems like a modest amount to save.
But of course, this system recognizes that you are a human being with needs and wants, and they should be satisfied from time to time. It sets a realistic allocation for your money, making it an achievable system.
You should also save your money straight to your bank account so you won’t have to spend it elsewhere. It can help to open a separate account strictly for your savings. With the technology we have now, banks can now open accounts online for your convenience.
Avoiding Delaying Your Life
Saving money is not the only thing that matters during early adult life. You should always be mindful of how you spend your time. With the distractions that exist today, it can be easy to waste time and not even notice it.
Always make sure you do not procrastinate. This applies in every situation in your adult life. Don’t delay your tasks at work, don’t delay your job or grad school applications, do not delay anything.
Constantly delaying things in your life means wasting valuable time that could have been spent on productive activities and resting.
Of course, we recognize that everyone has their timeline in life and should not mold their lives by society’s standards. We also acknowledge that young adults should not put too much pressure on themselves as they have all the time in the world to achieve the things they want.
But just because you are not running out of time does not mean you should be wasting it either. Be wise with how you spend your time.
Value Rest
It may sound contradictory, but you need to have adequate rest to achieve more in life. You especially need good rest during your early adult years.
Resting helps you be more productive and can help you avoid the much-dreaded job burnout. This ultimately helps you live a better, healthier life. With that, no matter what you choose to follow in life, always make sure to get enough rest.
Your early years as an adult can be a complicated journey. It can be confusing and scary. But it is also the period of transformation and lessons. At the end of the day, what’s important is to have fun amidst all the uncertainty.