If you just graduated high school or college and are out on your own, you may be sort of lost on where to start, what to do to become a “real adult”, or just unsure of your future. No matter the case, these four items will be crucial to getting started on the right path.
This honestly will be the most important thing you can begin doing once you’ve finally started doing everything on your own. Start young. Start fresh. Just go into budgeting with the mindset not of being frugal but of saving for your future. You’ll get into good habits by tracking every dollar and comparing it from month to month simply because you’ll start seeing where everything goes. Sure, you can go spend a bit on that new pair of pants you want. That’s not against budgeting.
What is against budgeting is spending on multiple pairs of new pants over the course of a single month and then not tracking where it’s going. Because, suddenly, you’re wondering why you don’t have enough left over at the end of the month to put in your savings. Track. Every. Dollar.
Get life insurance.
Wow. This is kind of up front isn’t it? Especially if you just started adulting and are trying to pin down other important things to do. Well, this is up there with them, pal. By getting yourself on a life insurance policy while you’re young and healthy, your rates will be much lower and possibly locked in for an extended period of time. While this doesn’t make sense now, you’ll thank yourself down the road when you have multiple kids, a spouse, or when you’re really sick or even life threateningly sick. Insurance rates rise and fall depending on your health. It’s better to do it now than to wait.
Pay off debt.
Probably a no brainer to some, but paying off your debt begins now. You may have a lot of student loan debt built up. Maybe it’s credit card debt. Who knows, maybe it’s something else. No matter the case, debt needs to be handled because interest builds up over time. Tackle your debt now while you’re young.
This is important simply because the other items on this list can get you down or even become overwhelming all at once. The whole point of life is to be happy, right? Well, these other items ultimately help to ensure your happiness and the happiness of your family down the road. But you also want to make sure you’re happy and alright in the present, too. Make sure you still have money for entertainment. Make sure you leave time for fun and friends. Having fun and being happy are the number one things in life, so don’t neglect your happiness.