Post # 1
Hey! So I’m going to start a blog with some coworkers/friends about the different struggles we have and about different types of life hack things lol. My question for you guys is what are the most important things that teens that are moving onto adulthood should know? What are things that you have learned? Whether it be how to fix a car on a budget, looking for a house, dealing with crazy neighbors, taking your landlord to small claims court etc. What should people know?
Post # 2
Investing in your 401k, from the START of your first job. Having an emergency savings account, balancing your finances, etc.
Post # 3
When renting, take your OWN photo’s (with time stamps) of EVERYTHING before you move any of your stuff in.
Never buy a brand new car – Buy one 12-18months old with low mileage. As soon as that shiny new car leaves the showroom for the first time, thousands drop off the value.
Travel while you are young and not tied down (man I wish I had of done it sooner).
Stay living with your folks as long as you can. You may think you can’t stand it anymore… But you’ll save much more cash (and drama…), and it might seem cool to rent a share house with your best friends but F**K – People other than your family or SO are usually really annoying to live with… From shitty habits like leaving drenching wet tea towels in the sink, not washing their dishes, flooding the entire kitchen when they DO wash their dishes, keeping you up all night by partying when you need to study. Yeah, sharehouses are a nightmare.
Post # 4
Save. I really wish I had. Living at home, I had extra income, but I chose to spend it. FI saved half his income.
Post # 5
When I moved out of home (moved out with my SO) I made a budget to ensure I could afford it, got some cheap and second hand furniture and got set to move. The day I moved in I realised I didn’t budget (or think of!) for a fridge or a washing machine whoops! So advice is to remember those big items!
When buying anything- research, research, research!! The car advice is correct most of the time, but I got my brand new car far cheaper than a second hand one as the dealership was having a run out sale! (I got it about $5k cheaper Than the second hand ones, win!! ) so always research to get the best price!
Start a savings account and reguarly add to it (small amounts can add up quickly!)
when renting, try and get to know your landlord and get their direct number- half the time the thing the ‘landlord’ won’t fix is actually the agent not passing the message on! (In Australia anyway)
if moving away from where you grew up, get involved in the community to make new friends who are nearby!
When saving for a home, be aware of hidden costs (stamp duty, mortgage insurance, bank fees etc) so that you save enough for them too!
Post # 6
Learn to be organized as a teen, when you only have your own space and some chores to deal with. Because eventually, you will have an entire house to keep clean and organized and its just easier if you are used to daily or weekly cleanings!
Post # 7
Save save save. Have a rainy day fund because the rainy days will come.
Post # 8
Don’t sign up for a credit card on a whim (eg. with a sales person sitting at a booth while you’re walking through campus). Keep walking. It’s not worth it. Learn more about credit and if/when you are ready, you pursue them, not the other way around.
Post # 9
cirk: I wish I’d done this! I have been on my own for 5 years and I STILL dread the cleaning. I wish I were just used to it and it was nothing!
Post # 10
Get only ONE credit card to use for CREDIT ONLY and pay it off EARLY or ON TIME. My parents gave me this wise advice that I’ve followed. I have good credit and I’m not in debt. It’s really worth it if they want to do things like buy a car or rent an apartment in the future. And try to sign up for a credit card with your bank, not some random organization.
Post # 11
Ah, fun/interesting thread. Here are some: how to find an apartment in an unfamiliar city, how to grocery shop, how to do laundry and how often, what kind of insurance do you need and how do you get it, how to get a good part time job, how to make a resume, how to dress for a professional job interview.
Post # 12
Alot of the advice above about saving/investing doesn’t really apply to when I “moved out” since when I moved out of my childhood home, I went to college, where I was making a whopping $0 and had nothing to save and invest.
For me, the money-management comments seem more related to a “what I wish I had known before starting my first job” thread
Anyway, what I wish I had known before I moved out for college was therefore more mundane/practical things: how to cook meals that are quick but healthy and tasty, how to hem my own pants/skirts (I’m only 5’3″ so that’s a necessity!), how to get along with roommates, etc.
Post # 13
Don’t get into credit card debt. Learn about personal finance. Learn how to cook and shop frugally. Don’t be the only person on a lease with roommates or the only person on the books for utilites with roommates.
Post # 14
I wish I had known how to appreciate all that my mom and dad did for me that I took for granted. I would give anything to move home!
Post # 15
TheGridMonster: Ahhh, many a time I have used double sided tape to hem my pants up LOL. I am tempted to spend a week in FMIL’s alterations shop to learn the basics hahahha…..