How to Adult - Money

9th April, 2018    |    By  FYA    |     1.6k

How To Adult is your go-to series for all your adulting needs. We all know that adult life is complex and sometimes you just need someone to break it down for you.


Also check the related topics:  

Finding and starting work Managing Money

Video provided by FYA

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How to Adult: Money

Hello there! Isn’t it nice to have tax? I know what you’re thinking: How did this young woman get so incredibly rich at such a young age without selling her organs? Well, here are my top 5 tips for keeping track of your cash, so maybe one day you too can enjoy a very, very fine hat like my one.

Tip 1: Learn how to make a budget and stick to it
How much of your income are you spending on rent? And what about food and bills? It’s important to look at how much you’re getting in and where it’s all going. A proper budget is your best defense against running out of cash a week before your next paycheck. Find a budgeting app so you can keep track of your money, and you might even be able to stash away a little bit every now and then too.

Tip 2: What’s the deal with super?
Your super is super important. It might just feel like a small amount of your money is going missing from every paycheck, but that super money is still with your money and it will help you buy that yacht when you retire. It’s best if all your super is going into one super fund. Log into MyGov to keep track, especially if you’ve had a few different jobs. It could save you tens of thousands of dollars in the long run, which is a lot of hors d’oeuvres for your parties on your yacht with your yacht friends.

Tip 3: Learn how to save a bit better
A couple of small changes can save you heaps every month. Stupid quick tips:

  1. Check if you can get a better mobile phone deal.
  2. Plan your weekly grocery needs.
  3. Stop feeding your bill caviar. Your dog has simple needs, like feeding dog food. The clue’s in the name.

Tip 4: Set some reasonable money goals
Let’s be real: you can’t save every penny that you earn. I tried it, and it doesn’t work. You end up trying to live off packets of noodles, never seeing your mates, and sleeping in the back of your friend’s station wagon just to save a few bucks. It’s not worth it. Try to put away around one-fifth of your income if you can.

Tip 5: Keep up with your tax
Each year, you need to do your tax return. You can either do it yourself or go to an accountant if you’re not sure about it. It’s worth doing a bit of research as well into what you can claim as a work expense, like your phone or your laptop. Remember, saving cash takes time, but if you start now, your future self will thank you for it. Take it from me, an incredibly rich texter. Thanks, past self!

Video by FYA