1. Create Your Own Happiness. Happiness can come in many different forms. Some people love to try new foods and travel. Other people like to relax on their couch and watch a new television show or spend time with family. As adults, it’s vital that you figure out what makes you happy and ensure that your happiness doesn’t depend on anyone else. Although there’s nothing wrong with inviting others to share experiences, you have to be comfortable creating your own happiness that doesn’t depend on someone else. Take some time to figure out what things you enjoy regardless of who is around you. Learn to make your own self happy instead of relying on others.
2. Define Success for Yourself. As you continue to progress in your career, there are things your co-workers, bosses, friends, or even family members feel may “mark” your success. Perhaps it’s when you make a certain salary, find a long-term partner, start having children, or travel to certain places? While all of these things may be sources of enjoyment, it’s important that you take a step back and learn to define success for yourself. What does success mean to you? It’s important for you to create a life that YOU like and that YOU enjoy. Maybe success to you means reaching a certain level at work or achieving a certain milestone in your personal life, but it also may be something entirely different. Take a few minutes and define success for yourself.
3. Put Yourself and Your Mental Health First. Life has its amazing moments, but it can also be challenging at times. Certain things in your life that may not go according to plan and unexpected occurrences can serve as a source of added stress. It’s vital that you take the time to invest in your mental health and gain the tools needed to deal with life’s challenging moments in better ways. Recognize when you should keep pushing yourself while also knowing when you need to take a break. Although you may be tempted to make other people, projects, or responsibilities a higher priority, don’t neglect your mental health.
4. Pursue Your Passions. Life is not guaranteed. Make use of your time today. Figure out your passions and pursue them as best you can. If you aren’t sure what your passions are, write down a list of things you are good at, things you enjoy, and things other people compliment you about or “pick your brain” on. You may not have as much time in the future as you do right now. Take advantage of the current state you are in and pursue your passions. Perhaps you want to start a business, create a product, or work for a different company. Life is too short not to spend it working in the area you love doing the things you enjoy.
5. Enjoy every season of life. Don’t get so focused on looking to the future that you forget to enjoy the “now.” If you’re single, use the extra time you have to learn about an area that excites you, pick up a new skill, or grind it out working so that you can build up your finances. If you’re someone who is in a relationship, invest time getting to know that person and create a foundation that can withstand the test of time. If you’re a parent, enjoy all the priceless moments you have with your kids at every stage. If you’re someone who is focused on your career or are new to the city, find ways to enhance your skills and cultivate friendships that can last a lifetime. Instead of always looking ahead, take time to enjoy the season of life you are in.
5 Money Mistakes To Avoid This Summer
Summer is here. Covid cases have declined. Outside is officially open. As you enjoy being able to leave your home and live life as you did before the pandemic, be mindful of your spending. Despite the delayed gratification we all had in 2020, the urge to make up for lost times might be good for our psyche but bad for our wallet. If you aren’t careful, you could find yourself spending way more than you anticipated. In order to continue to progress in your financial goals, avoid these 5 money mistakes this summer:
1. Going out to eat too often. Whether it’s brunch, happy hour, or a birthday dinner many people tend to eat out a lot more frequently in the summer. I know I do. With the increased prevalence of food delivery apps like Doordash and Uber Eats, I order takeout meals more often as well. If I’m not careful, I can easily spend $100-200 a week eating out. Although the food may taste amazing and the time with friends can bring happiness, these endeavors, when done on a frequent basis, can be quite expensive. In order to be a money savvy young professional, we must be mindful of this added cost. It’s not that we can’t eat out at all, it’s that we must resist the urge to do so too frequently.
2. Not having a budget when you travel. Now that things are opening back up, one of the things many of us cannot wait to do is travel! We long to get out of our homes and away from our cities to visit someplace else. Although traveling can be fun and provide a much-needed break from our current lives, don’t forget to budget! Many of us factor in the cost of a flight and hotel, but we underestimate how much we will spend on food, uber rides, drinks and entertainment after we arrive. If we aren’t careful, those expenses can add up quickly and before you know it, you’ve spent way more than you planned and re-accumulated the credit card debt you worked so hard to pay back. Avoid this by budgeting appropriately. Before you go, estimate how much you will spend on incidentals like snacks, drinks, and transport. Find ways to cover those expenses without putting it all on a credit card. Don’t let improper planning turn your vacation into a financial catastrophe.
3. Overspending at bars/lounges and happy hours. If there’s one thing friends love to do in the summertime, it’s go out. Although many of us may no longer be in clubs until 2am, we likely still enjoy a good happy hour after work or a nice lounge on the weekends. Although there is nothing inherently wrong with these activities, they can serve as unexpected money pits that take away all of our disposable income. If you aren’t careful, you can easily drop $20-30 on drinks, another $20 on an appetizer and tip. Before you know it, you’ve spent almost $50 and still need to get dinner. While this may not break the bank if done every once in a while, hitting a happy hour every week can start to add up. Nightclubs and lounges can be even more expensive, especially if you try to get a section to sit down and split a couple bottles or drinks with friends. You can easily send $200-300 if not more, on a night out. While this can lead to great times with friends, don’t let it shatter your financial goals. Try to set a spending limit when you’re out and don’t go over that amount, That way you can enjoy the evening without overspending and regretting it in the morning.
4. Buying new clothes for every occasion. Whether it’s the desire to post photos in new outfits or the unexplainable feeling of excitement I get whenever I purchase a new dress, one of the financial mistakes I used to make a lot is shopping. Specifically speaking, I loved to buy new clothes for special occasions and in the summertime, there was ALWAYS a special occasion like a friend’s birthday party, entertainment event, or upcoming vacation for me to shop for. Although shopping and wearing new clothes brought me joy, seeing my bank account diminish soon after I got paid was definitely NOT a good feeling. If you’re like me, and can get a little carried away when it comes to shopping, try to put barriers in place and approach things differently this summer. Delete text messages from stores about sales, unsubscribe from store emails, make a concerted effort to re-wear things you haven’t worn in awhile, and resist the urge to buy something new when you have other outfits in your closet that could work just fine.
5. Underestimating the costs of weddings/special events. Another thing we need to be careful not to do this summer is underestimate the costs of special events like weddings. As we enter our late 20s and early 30s many of our friends and co-workers may start getting married and having children. This means there will be lots of engagement parties, weddings, gender reveals, and baby showers to attend. Although these events may create memories that last a lifetime, make sure you plan ahead. This means setting aside money each month for these costs and understanding that you may not be able to make ALL of the events. Set a budget and plan ahead.