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Life Tips for Young Adults

Many high school graduates are finding their way in the world independently, either by working, pursuing higher education or sometimes both.

Hey, we know it’s hard being a young adult. Living alone for the first time and new grown-up responsibilities can be challenging. Here is a list of tips to live by that can help tremendously.

• Always take responsibility for yourself and always think before you do. Life can get confusing right about now, but know that you are in control, so don’t make rash decisions.

• Learn to communicate and ask questions to avoid misunderstandings. Don’t be afraid to speak up. If you don’t understand or are confused by something, always make sure you get clarification.

• Take care of yourself and stay healthy. This means eating well, exercising, making sure you get enough sleep and taking a daily multivitamin.

• Always make time for yourself. This will help you relax and unwind. Cut yourself some slack, go easy on yourself, whether it be writing in a journal or treating yourself to a movie.

• Start a savings account and have a savings goal. Stay committed to saving. An easy way to do this is by having a percentage of your paycheck automatically deducted and put into a savings account at least once a month.

• Make sure you have six to eight months worth of expenses set aside in an emergency fund, separate from your regular savings account. You can use this money to cover unexpected events, such as a car accident, repairs or a surprise bill in the mail. It will also come in handy to tide you over between jobs.

• Now is the time to learn how to spend responsibly. If you have a credit card, use it sparingly. If you build up a high balance, it may be difficult to pay it off later, which could hurt your credit rating.

• Stay away from payday loans. Period.

• Find a job that offers benefits including health insurance, dental insurance and a 401k retirement plan. Start investing in the 401k as soon as you are allowed to, at least up to the amount that that company matches. If there is no 401k, set up a Roth IRA and contribute to it regularly.

• Save money and energy by turning lights and fans and adjusting your thermostat accordingly when no one is home.

Sources: www.mycreditunion.gov/protect/Pages/Tips-for-Young-Adults.aspx, http://energy.gov/energysaver/energy-saver, www.bankrate.com/finance/retirement/10-financial-tips-for-young-people-1.aspx