Adulting 101: Managing Your Money



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Adulting 101: Managing Your Money

By ellephant

One of the biggest and probably worse parts about becoming an adult, is learning how to handle your cash. Not only can it be tedious, but most times, many of us are clueless on where to even begin.  

It’s not always a topic we’d like to talk or read about, however, as another year dawns upon us and more teenagers transform into adults, now's a good a time as any.


A tale as old as time itself, the best way to manage your cash is to set up a budget for yourself. Becoming an adult means complete freedom over your finances. It can be a very exciting time, however, if unwise, it can also become a very careless time.  

Disciplining yourself to not overspend, as well as setting up savings for rainy days, is no walk in the park. Nevertheless, it is necessary. The key? Understanding that life in general, is more so about needs, rather than wants. 

This isn’t to say you’re unallowed to live a little, because by all means, if you’re not pampering yourself, then what is the point, really? But what we’re talking about is being smart, amidst said pampering. 

#1 Spending habits  

Getting to the bottom of how you usually spend your cash is important. When you’ve listed/noted/tracked down how your money depletes, you can then start prioritizing on the things that should matter, first and foremost: bills, student loans, debts, taxes or any other paying commitments. 

#2 A goal  

Step number 2 which may come in handy, is setting a goal before you get your monthly, salary if you will. Deciding how much you’d like to save for the future, can help remind you how much you should allow yourself to spend each month. It is a clear-cut aim, which as humans, we often tend to push ourselves, into achieving. 

#3 Planned-purchases  

Besides setting a goal for how much you want to save, you can also take it a step further, by understanding the big purchases you’d like to make, as you age. It could be a car, it could be a home, it could be travelling the world, but the point is to understand your goals in life. This will help garner motivation so that you actually take much-needed steps, in order to reach them. 

#4 Additional account  

Saving money is not for the faint of heart. This world has blessed us with so much and most times, we’re only frail human beings who cannot seem to resist temptation. During times like these, an additional savings account can definitely help. 

Aside from setting aside some money for the future, life can become easier with a separate account altogether. This way, we would think twice, before we touch money we know we’re not suppose to, for things which we know we don’t really need. 

Long-term Wealth  

Besides focusing on the money we have now, another rather prominent aspect to growing up, is to think about the money we could possibly have. 

Living in the now is splendid, but ultimately, humans have this thing about wanting to hold onto as much control as possible, for a future we technically have no control over whatsoever. It can be taxing, but this has, without a doubt, proven to eventually help a little ways down the road. 


#1 Insurance  

We think it’s pretty evident now that the only thing people like more than money, is more money. The good news? Getting insured gets you there, one way or another. 

Insurance can be pretty pricy stuff, but when all is said and done, paying for it on a monthly basis, whether it may be one for health, vehicle, life or disability, can in due course, help a person in the long run. 

#2 Investing  

On top of insurance, another way to build long-term wealth is by investing. Making an investment means allocating money on a particular something, with the hopes of getting more money/profit from that something, in the future. With this, one would be able to grow money in time. 

Of course, the guide to managing money after leaving the nest, is one which is long and comprehensive to say in the least. But we've all got to start somewhere, and these easy steps is a good way to go about it. 

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a writer of sorts



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