Stepping into adulthood is not easy, especially when everyone expects something from you. Congrats if you’re one of the lucky ones who got it all figured out. But if you’re as clueless as I am about being an adult (especially on money), slap yourself with this blog post before reality does it harder. 

1. Start saving already

It’s never too early to start saving, only too late. Saving is a good habit that you and I should have, just start small and build it up. Once you see your savings grow, the satisfaction will motivate you to keep doing it.

You can use the “pay yourself first” strategy, put part of your pay cheque away into your savings account once you get paid. Your other bills and expenses shouldn’t get in the way. If you can, start saving a little amount for your retirement too. While this may see lightyears ahead, you will have to contribute much less over your life time if you start saving and making returns in your 20s, see more.

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Want to stay on top of your budget? Join our waiting list to get the free Neat app.

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2. Financial tracking is important

If you want to manage your personal finance better, financial tracking is a must. So that you know where your money is going; it gives you a better picture of how you spend. It is the best way to cut unnecessary expenses and readjust the way you spend. You don’t need to do it manually (I’ve done that, and it’s painful), there are plenty of budgeting apps and online tracking software that’ll do the work.

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3. Start a budget and stick to it

You really have to sit yourself down and create a budget that works for you. Don’t make it so tight that you’ll give up half way through, but efficient enough to make a positive change in your spending habits. The hardest part is to stick to your budget no matter what, it takes a lot of self control and effort, but you can do it! Don’t know how? Read this.

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4. Emergency fund

Always prepare for the worst that could happen. If you’re smart enough, you should already have an emergency fund. Because sometimes life loves to surprise you with the most awful situation, and like most situations, you’ll need money. You never know, and you can’t always go to your parents for money. It’s suggested to have an emergency fund with which you can survive for at least 3 months.

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5. Quality purchases are necessary (sometimes)

There are things in life you just can’t get for cheap. It’s better to spend big on one quality item, than multiple times on cheap, nondurable options. For instance, a nice fitted suit for business occasions or interviews. You’ve got to make a good impression, and your suit matters.

A reliable laptop is also a good thing to invest in, you need it for work, for study, for fun even. Just don’t overuse this excuse, you don’t need to get the expensive version of everything. Good for you if you can afford it, but if you can’t, don’t force it.

Want to make budgeting easier? Join our waiting list to get the free Neat app.

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