Happy New Year! I was thinking about all the money being spent and the expectations on young and old woman today. Your not only expected to go to college or university, your also expected to pay for it. When you graduate your expected to be debt free. First, be kind to yourself and trust yourself that you can do it.
As I thought about it I realized one of the most difficult transitions in life is from teen to young adulthood to manhood. Not really sure if that is what it is called. However, what I do know. is expectations of others can make life more difficult than what it needs to be. If I thought I was something great I would of taken back the advice I gave my own children thinking I would be with them all the time and shared this with then.
2. Figure out a monthly, weekly and daily budget. There are many books that teach people how to do this. Don't give up if the first one doesn't work. Try again until you find one you can stick with. Put away purchasing things you want and start putting money you want away. That little starbucks or that little black dress you wanted for the New Years Eve Party....all have to wait.
3. Your parents had a plan for your life and now you are on your own trying to figure out if those plans are what you really wanted. It's okay, just keep moving forward and you will figure it out. I promise you will figure out. So many of lives challenges are related to money. Those that have and those that have not. You just have to plan...that is how those people have. There is nothing with possessions on earth. What is important is that you have integrity as you create yours.
4. After college or university you can devise a way to get out of debt. You have accomplished your goals and on to the next. You might have to have debt to accomplish your goal. The first is to get out of debt, so you know you can. It is to understand that you can pay off your debt if you have to. Then the next goal you set you'll know you can accomplish, because you accomplished the first. Parent want children to attend college, it develops a seance of independence. and accomplishment. It builds the child from childhood like dependence to self confidence and self reliance. Didn't attend college, no worries, the concepts are still thee same.
5. Develop skills that you will need. Marketplace Skills , I believe is what they are called Most business experience will have you do things that will develop you as a person and as business person. Understand they might not all be good experiences.
6. The first thing on thee list to own should be a house. It could be a modern flat or town house. Why? All of us need a place to live. Life is about family and friends, however the truth is friends will only help you for so many years. If you own your own place then you don't have to relay on other people. This will get you through many lonely nights...it's okay we all have them. Sometimes making the right choices for ourselves means letting go of the fun things we want to do. Those fun things create memories, owning your own home creates security.
Those are my six best thoughts of advice. If you don't know how to accomplish this then seek the advice of a professional financial planner.
This is a disclaimer, I am not being paid by either of the links below. It is my understanding that they are professional organizations that help people.
If you need health, housing and other assistance, please visit North County Health Services,
CHP Financial Advisor and Planners
