Millennials entering adulthood: What to expect

 

Metro Manila (CNN Philippines, June 29) — “Adulthood’ is a topic that draws mixed reactions from millennials. As an inescapable part of life, it is both anticipated for the freedom it offers, but dreaded for the uncertainty it brings.

 While there’s no one way to sum up or ace the transition towards being an adult, there are some aspects of it you can prepare for. What does adulthood have in store for the average millennial? Here are some things you can expect.

 Financial Independence

 Ahhh, the sweet taste of freedom! Nothing says “adult” like starting your first job and getting your first paycheck. Many look forward to entering the workforce so they can finally get funds for all their hobbies and passions. Being a working adult opens doors for young millennials, who now have access to their own finances. Unlike before, you’ll have the purchasing power and the choice to decide where you spend your money. 

This financial freedom is definitely one of the perks of becoming an adult.  

Carrying your own weight  

But the financial independence of being a working adult comes with trade-offs as well. Aside from the sudden increase in freedom, getting older also means carrying your own weight and gaining more responsibilities.

While adulthood can mean you’re no longer at the mercy of your parent’s wallets, it also entails having to foot your own bills and paying for your necessities.  

Plan your purchases wisely— because from now on, everything you spend will be coming from your own paycheck.  

Making investments  

An essential part of growing up is having the foresight to plan for your future. As an adult, it’s important to discern what you need from what you want and think of smarter, better ways to invest your hard-earned pay.  

It’s crucial millennials learn how to properly handle their finances upon entering adulthood. This can range from allotting money for financial markets and stocks, or saving up for long-term investments like cars. Know where to place your money, and your future self will thank you.

Plotting your own career and life goals 

For many, adulthood starts with choosing a profession and finding work. However, building a career isn't just about getting a job-- it's also about having to planning your goals in life, and envisioning where you want to end up.  

Adulthood is a departure from the structured learning we got used to in school, and entails being responsible for your own career and life goals. With this, it’s now up to you to personally assess your pace and direct your track in life.  

Giving back to your family

Filipinos are known for having close family ties. Although millennials may be a different breed from their parents, research like Visa’s 2012 “Connecting with Millennials” study show family-oriented values are still alive with this generation.  

Like their parents before them, millennials still care about giving back to the family, and even keep alive the Filipino tradition of giving their first paycheck to parents. Contributions to the family— no matter how big or small — are a way of saying thanks and taking on a bigger purpose.  

Adulthood is a time to develop oneself and take on a new roles in life. While growing into these roles may be as simple as treating the family to dinner or footing some of the house’s utility bills, embracing these responsibilities is an integral part of gaining maturity and entering “the real world.”  

Beyond dedicating your first salary to mom and dad, transitioning to full-blown “adulthood” also means being ready to give them a hand with finances every now and then. For tech-savvy millennials, this is made easier with cashless transactions that help account holders manage and secure their finances better.

Debit cards like Visa offer a safe, convenient way for millennials to lend a hand to the family household. By allowing you to access your bank account 24/7, Visa helps you control your finances with ease.

As you grow more mature and shift to different roles in life, Visa is your partner in facing the perks and responsibilities that come with being an adult. 
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