Wait – Am I An Adult?
Ever been in a group where the conversation steers to saving plans, career paths, investments and insurance?
And while everyone is talking animatedly you are just like –
TL;DR : Increase your adulting skills with this article
1 minute on Career Path
The first thing that all fresh grads, and every auntie and uncle ask at family gatherings –
“What you working as now ah?”
i. Don’t be afraid to ask for help
Internships : Starting anywhere, even in a start-up, gives you experience
and helps you to realise what you are truly passionate about.
Referrals : If you have worked as a staff or intern at other places,
ask your previous boss for a recommendation or a referral letter!
Advice : Once in a while we meet people who are willing to guide us,
be it through our career, or our personal life. Since it’s free, take it!
In fact, find a whole bunch of these kind-hearted people here!
ii. Hard skills aren’t everything
As much as your coding skills, or accounting prowess is important,
so is learning to work in a team and communicating with team members.
Don’t neglect these if you want to climb up the ranks of your career!
ALWAYS REMEMBER: Take care of your reputation – word gets around quickly,
and you don’t want your disputes with a previous company to affect your chances in a new company, do you?
1 minute on Interviews
Now that you know what job you want, time to nail those interviews!
i. Stalk the company
Who are you interviewing with? What does the company do? What is their vision?
The more you know, the more impressive you look.
ii. Counter-interview them
Don’t just go there to be tested find out if you like the company too!
Prepare questions instead of letting them quiz you all the time.
ALWAYS REMEMBER: Err on the side of caution – reach earlier than you need to, dress better than you need to.
Now that you’ve nailed your first job, it’s time to learn how to invest right?
Settle the basics first!
1 minute on Insurance
“Don’t worry I’m not here to sell you anything” – Every insurance agent ever.
i. The most basic plan
If you are lacking in finances, at the very least get a Hospitalisation and Surgical Plan,
which covers your hospital and surgical bills that are usually too much for your finances to handle.
ii. Every policy is different
So when you have time, explore each one, and choose the one that caters to you the most!
ALWAYS REMEMBER: Insurance is to protect you, not to grow your wealth!
1 minute on Savings
Easy to say, but hard to do! Here’s how you can start:
i. Automate your savings
When you receive your salary,
portion out a percentage and transfer it to another account
ii. Start by saving a lower percentage
Start with 30%, then 40%, then 50%.
This will build up a habit and help you balance “living life” and saving up.
iii. How to control your spending
If you have an to buy something, wait for 3 days and see if you still want it after that!
ALWAYS REMEMBER: Stick to your plan to save! No point having the best of plans if you can‘t carry it out.
1 minute on Investments
Finally, how do I grow my own money?
i. Invest in yourself first
Educate yourself about investments!
Recommended books by the community:
- A Random Walk Down Wall Street
- The Intelligent Investor
- The Little Books Of Common Sense Investing
ii. Ask those who have done it before
This is exactly what Seedly is for! You ask, and thousands of users on our QnA platform are here to share their expertise!
ALWAYS REMEMBER: If it sounds too good to be true, it most likely is.
1 minute on Credit Cards
i. Know what you want, know what they want
Know what perks you want – Air miles, cash back, cash rebates, or rewards!
Of course, all these also come with different conditions. Some require a minimum spending, while others require a certain amount of transactions. Know your cards before choosing them!
ii. Go after additional perks
After choosing your card, google card comparison sites – many of these sides offer additional one-time perks like vouchers or gifts!
ALWAYS REMEMBER: Never spend what you do not have. Even a simple $1000 outstanding credit card bill can almost double in 1 year!
Special thanks to all the community members that helped a lost fresh grad learn how to “adult”.
Here is the first article published by Wen Fong, but written by the community.