Making it as A Grown-Up: A Basic Guide | Atlas Credit

Everyone wants to be financially independent and successful, but you've got to start somewhere.

The truth is, most of us don't start out exactly where we want to be. In fact, it can take years of diligence to reach the levels of stability most older adults take for granted.

So, if you're still young and learning how to make it in "the real world," here are some simple tips you can use to reach success.

Things Every Adult Should Know

No guide to adulting would be complete without acknowledging that different circumstances call for different rules. There is no one approach to how to adult. Some people enter adulthood with children of their own. Some are still going to school. Others act as caregivers to older family members. Each one of these adult responsibilities will impact your life in different ways. 

So don't try to keep up with your friends or worry if your life looks different from someone else's. That leads us to the first thing to keep in mind when becoming an adult. 

Take It Slow

If you've just left high school or even college, there's no guarantee that you'll magically fall into the life you've always wanted. During these early years, you have no idea where life will take you, so be patient.

One huge mistake many recent grads make is digging themselves into huge amounts of debt. You don't need that new car just like you don't need your own home at this moment. Your lifestyle may not be what you've always dreamed of, but by taking it one day at a time, you may reach it before you know it.

Consider a Roommate

These days, rent can be pretty expensive. Maybe you have a decent enough income to afford a place on your own already -- but think about the savings that would come from splitting the costs.

If you have friends or family members who would be willing to share an apartment or rental home with you, reach out to them with an offer. A roommate situation isn't always ideal, but the extra money you'll have at the end of every month can make for much easier budgeting and savings for later in life.

Learn Useful Skills

Think about your biggest monthly expenses. If you have a roommate, your rent might not be the worst one -- it might actually be your food costs.

The main reason for huge food expenses is eating out. Everyone loves having a meal put in front of them by a waiter, but nobody likes looking at the check at the end of dinner. But if you know how to cook, you could get around the need to dine out every day of the week. Even cutting out every other day of eating out can save you hundreds of dollars by the end of the month.

There are plenty of other cost-saving skills to learn as well. For instance, if you have a few handy skills like plumbing, electrical, or construction knowledge, you'll never have to spend on repairs. Think about how much savings that can add up to every year!

Start an Emergency Fund

You never want to think about the worst happening, but sometimes it does, and you need to be prepared. By putting away a small amount of your income each month in savings, you can build up a fund that can carry you through an emergency. It can cover your bills if you get laid off, or you can tap into it if you have a sudden need for cash, such as for car repairs or emergency surgery. Every adult should have savings to fall back on if an emergency occurs. 

Plan for Your Future

When you are young, the future seems so far away. You probably can't imagine approaching retirement age right now. Saving for your golden years is the last thing on your mind.

Yet setting up a retirement account may be the most important thing you do as a young adult. By contributing money to that account consistently over time, you grow your nest egg. You prepare yourself for a time when you will not be earning money. And the earlier you start on this, the better you set yourself up for the future. Saving even a few dollars a week will make a significant impact because that money grows over time. 

Take Care of Your Finances

The ultimate point of this blog post is this: if you're going to live on your own, you have to be responsible. It comes in many forms, but it all ends in financial stability.

Watch your wallet. Keep a careful budget. Don't overspend or build nasty debt from credit cards.

And if you ever find yourself in the midst of a financial emergency, check out this recent blog post for more tips on how you can survive whatever life throws at you.

Remember: very few of us can make it through life without a little help. If you need money fast, contact Atlas Credit to see if you qualify for a quick and easy personal loan of up to $1,400. We're not a payday loan company -- we'll work with you to make sure you can repay your loan and not dig yourself deeper into debt.

And that way, you can get the jumpstart you need on building the life you've always wanted. Apply for one of our personal loans online or visit one of our locations throughout Texas and Oklahoma to get started.