Becoming an adult

[JonLH]

I am 17, and most of the things for me to do to be legal I have to be 18. The thing is, my dad is a very intelligent man. He knows a lot. He just hasn't told me a lot. Like one time I was buying a car, they were saying I'd need to pay taxes for the plates. I was surprised, as in I thought the interest on the car was what that is. See what I mean? I am not stupid, I do know some. I just don't know some of the important things. So to all the adults, is there anything that you know now that you wanted to know when you were becoming an adult? I can always ask my dad, but I don't want to go into the adult world and look like a buffoon because I don't know what something means, or is.

[annie24]

Well, i guess that the take-away lesson here is that you shouldn't rely on your dad to tell you everything. You'll have to get your information in many sources. Not only by talking to other people (like for example, the people at the dealership), but friends who have bought cars, and also internet searches. You can learn a lot by going to the "how to" internet websites. I am sure that there is lots of helpful information on how to buy a car, and what are all of the "hidden fees" associated.

 

That's a pretty general lesson I've found about being an adult - everything has hidden fees attached - from airline tickets, to buying your own home, to buying a car, to college, etc..... Make sure to budget 20% more than what you expect the price to be.

[Lambert]

This is a pretty broad question. I guess the best thing you can do is research before you make any major purchases.

[JonLH]

Oh alright! Thank you though guys! And I understand that Annie. I just wish he would teach me a bit more before I go. Guess I can ask, and alright thank you both!

[hers]

I would have liked some insight and intelligence shined on me regarding what buying things on credit and contract means. It would've saved me (and my credit) a lot of trouble. Basic budgeting and saving too. I'm 30 and still having trouble.

 

I also wish I would've been taught never to burn bridges at jobs or pretty much with anyone. It sounds like common sense but it never occurred to me to do it. My mom never really led that example. She left a lot of jobs with a bridge burned and I always just thought that was what leaving a job meant.

[OptomisticGirl]

Like Hers I wouldn't have minded some insight into budgeting and credit related stuff. I lead by example though as my credit took a plunge at the age of 19 just like my parent's did.

 

That being said, I think the greatest lesson our parents can teach us is to not teach us. Sometimes you have to look like a baffon. It's not a great feeling while it's happening but if you experience that feeling (with whatever) you make sure never to feel that way again so you take the steps the next time to not let it repeat.

[Snny]

Like one time I was buying a car, they were saying I'd need to pay taxes for the plates. I was surprised, as in I thought the interest on the car was what that is.

Not just taxes... but if you're getting a loan, you need a co-signor with good credit since this is your first car and you don't have credit. You also got to pay for inspection and registration title/tags before the car is yours. There is a lot of money involved in buying a car. Certain areas won't let you purchase a car until you're 21.

[Coily]

As with the others a good solid idea of finances, budgets, how personal credit works, and the harsh reality that being and adult is just like being a kid only no one is there to hold your hand.

 

On the Credit thing, when I bought a house at 27, I had no credit as I didn't want/trust credit card and paid for only what I could afford. I was considered by a lot of mortgage companies as a high risk, because I paid on time and in full. Three years on I realize that the system is screwy, but you have to play.

[camus154]

That being said, I think the greatest lesson our parents can teach us is to not teach us. Sometimes you have to look like a baffon. It's not a great feeling while it's happening but if you experience that feeling (with whatever) you make sure never to feel that way again so you take the steps the next time to not let it repeat.

 

This. This is what becoming an adult is all about.

 

You're growing up in a spectacular point in history. Information is literally at your fingertips. Be self sufficient and research everything. Intelligent people in my opinion aren't simply "smart"--they're curious. They take the initiative to learn as much as they can.

 

I'll give you my own advice about money. A) Start saving now. Even if it's just 5 bucks a paycheck. Read up on the power of compound interest. B) Avoid credit at all costs. True, you need some credit to establish a credit history, but do not--DO NOT--get into debt if you can help it. If you want to establish your credit, consider saving up a $1000 or so and then getting a small loan that you then pay off consistently with the money you've saved.