9 Things You Need To Do To Be A Financial Adult

Financial adulting is an important aspect of becoming a responsible and independent individual. It involves making wise financial decisions and taking control of your financial future. By embracing financial adulting, you are taking the necessary steps toward financial independence and a secure future.

Credits & Debits

1. Open A Bank Account
   If you don’t already have a bank account, get one. You should have at least a checking account, and preferably a savings account for short-term savings goals and emergency fund.
   
   
2. Use Credit Wisely
   Used well, a credit card can help you earn rewards a build your credit score. Just be sure to pay them off monthly. Credit is still a loan and it can quickly get out of hand if you spend more than you earn.
   
   
3. Check Your Credit
   A good credit score will serve you well throughout your life, so get familiar with it now. Learn how to pull your free credit report and your credit scores, and check for any potential problems now before they get out of hand. You can get your free credit reports once a year from AnnualCreditReport.com.

Income & Debts

1. Work On Your Student Loans
   If you’re on the verge of adulthood, chances are you have some student loans. Take the time to understand your payment plan options, and keep making monthly payments even when times are tough.
   
   
2. Pay Some Bills
   Maybe you don’t have a mortgage to pay yet. That’s OK. But you could start by paying at least some of your bills. Get a cellphone in your own name. Making on-time payments is an essential part of financial adulthood.

Income & Debts

1. Save For A Goal
   One of the hallmarks of adulthood is delayed gratification — the ability to wait to get what you want. Saving is a great way to practice this skill.
   
   
2. Build Up An Emergency Fund
   Even a few hundred bucks in savings can go a long way in a minor emergency, like a car breakdown. And if you’ve already done #1 on this list, you can use your savings account as a way to track your progress.
   
   
3. Start a Retirement Account
   Again, every little bit counts. Even if you can only save $10 a week, it’s a start. And the earlier you start saving, the bigger effect compounding interest will have on your nest egg.
   
   
4. Learn About Investing
   As soon as you start your first retirement account, it’s time to learn more about your investments. Do some research about your investing options, and look to the future, too.