Adulting is hard. Nobody really warns you it’s coming, then one day it hits you that you’re not a kid anymore. Quite rationally, you feel confused about how you got to your age, then you feel eager to embark on this adulting thing the right way.
The thing is, there isn’t really one “right way.” However, there are some tips and tricks to keep in your back pocket that make the process a lot more manageable. So, if you’re ready, keep reading to consider a few pieces of advice to support you in becoming a successful adult.
Knowing how to save money on the essentials.
Remember when you were a kid and your parent yelled at you to turn off your lights when you left your room? Or, maybe they told you to shut the door that you left wide open in the middle of the summer when the A/C is cranked? Well, these things really do come full circle. Now that you have to start paying for your own electric bill, it’s time you finally take that nagging voice from your parent and learn know how to save yourself some money on your electric supplier.
One of the simplest ways to ensure you’re not overpaying for your electric plan is to compare electricity rates with different electric providers. By comparing various energy suppliers, you will be able to negotiate contract terms, compare with what’s available in your zip code, and speak with the utility companies directly to get the lowest price. This way, you can keep some extra cash in your wallet with the peace of mind that you’re not overspending on your electric service.
Purchase a reliable car.
Newsflash, it may be time to get rid of the car that you’ve been driving around since high school or college. Sure, it’s gotten you through some of the best times of your life, but it’s time to ditch the constant maintenance and go for something more reliable. Don’t worry though, you don’t have to drop loads of money on a brand new car. Instead, there are plenty of used car options for sale that offer you the best of both worlds.
With a used car, you can still get a reliable car with minimal driving history. Plus, since new cars depreciate so quickly, it’s smart to get a used model that’s a year or two older than the newest edition for a fraction of the price. By investing in a safe and trustworthy car, you’re taking a great first step towards adulthood.
Start investing right now.
Did this section make you cringe a little? Don’t worry, it’s only natural to let out a shocked expression when you start talking about your retirement. Let’s face it, it can be sort of scary to think about being in your current profession for the next forty years. However, it’s crucial to remember that it’s never too late to start over and pursue something you’re passionate about. Whether this is starting a small business, getting promoted at your current job, or heading off to get an education that will advance your current career.
Once you get that under your belt, the best big adult move is to invest in your retirement. Young people need to know that when you start investing at a young age, you can reap a serious reward. Take this investing scenario into account: if you invest $200 per month at age 25, then by age 65 you may have more than $520,000. Whereas, if you start at age 35 with $200 per month, then by age 65 your investment is worth about $245,000.
The key takeaway is that investing young helps you to reap almost double the amount than waiting ten years to do so. So, to make a wise financial step in your adulting future, invest now to be successful later.