I find it rather concerning that no one really teaches you about adulting in school, like paying bills or managing a budget. But hey, at least I was taught how to calculate the Pythagorean theorem. Yeah, I bet you forgot what that was… don't worry, I did too.
As a fresh high school graduate, I knew that Macbeth’s own ambition led to his downfall, but no one warned me about the government’s ambition to take a chunk of my paycheck. While our teachers assigned us countless hours of memorizing historical events or dissecting Shakespearian tragedies, no one bothered to explain the financial drama we’d soon face upon graduating.
Did they assume we would magically learn it all?
For many of us, it is a hard wake-up call once those bills start flowing in. Trust me, the only thing more tragic than Macbeth’s downfall is checking your bank account after a month of spontaneous take-out meals and impulse buys. But don’t despair–-adulting might be a comedy of errors at first, but with some guidance, you too can turn the chaos into confidence.
Let’s start with the backbone of financial sanity: Budgeting 101- The Real Math Class. Yes, I said it, the dreaded “B” word. It isn’t just about saving money for a rainy day; it’s about ensuring you don’t have to live off ramen noodles and ketchup sandwiches by the end of the month. We can think of budgeting as your financial GPS. Without it, you will wander aimlessly, hoping to end up at your destination… Spoiler alert: you won’t! Budgeting gives us a roadmap to answering the question, “How do we get from point A to point B with what we have in front of us?”
This leads us to our first tip, use the 50/30/20 Rule. What is this rule you may ask? Let me explain:
50% of your income should go towards needs (rent, utilities, groceries). If your “needs” category includes a daily $6 coma inducing coffee, it’s time to reassess your priorities.
30% of your income can go towards wants (eating out, movies, hobbies). Life is short, have fun, but try and limit those spontaneous Amazon purchases!
20% of your income should be put towards savings or paying off debt. Future you deserves nice things too!
This strategy will help get started on the basics of budgeting. The toughest part will be tracking your spending. You’d be shocked at how quickly $5 here and $10 there adds up. Luckily, there are plenty of ways to do this. With the advent of technology, comes a plethora of budgeting apps and services. And if you walk a simpler life than that, use a spreadsheet or even a pen and paper (for all of you old-timers out there).
- Tip: Look back at your last bank statement. It might feel like a horror movie, but it is important to face our fears.
Once your budget is in place, it is time to check on your emergency fund…it’s empty, isn’t it? No worries, that’s why you’re reading this, to get caught up on adulting. Life happens—your car breaks down, unexpected doctor visits, or even a brief job loss. Trust me, having an emergency fund will make bumps in the road easier to navigate. It also makes Googling “what does it mean when my transmission sounds like the wheel from Wheel of Fortune” less stressful. An emergency fund is exactly what you think it is: a cushion for when your financial GPS gets rerouted. A “standard” emergency fund should cover 3-6 months of expenses. If this seems overwhelming, it is okay to start small. Saving even a little at a time adds up faster than you think. Your future self will be thankful when those financial detours appear.
Adulting can be tough, and let’s face it, most of us are winging it. From figuring out how to budget without sacrificing all your joy, to building an adequate emergency fund to prevent total mind meltdowns, it’s important to take one step at a time. Begin now by setting up that budget. Even if it’s just a rough draft it will help you understand your current financial situation. Tackle your financial dramas head on, and remember, this isn’t about perfection; it’s about progress.
So, next time you feel like you’re failing at life because you are behind on bills or splurged on a weekend escape, cut yourself some slack and remind yourself that these lessons weren’t handed to us on a silver platter in school. Ultimately, no one has it all figured out. Keep learning, keep growing, and keep laughing at the chaos.