Young Adults: First

• Renting your First Apartment - Renting that first apartment can be exciting and a little bit scary. You will probably look at several apartments to find the one that has the location you want, the amenities you need and that is affordable. That is the exciting part. This article describes what come next.
• Preparing Your First Budget - A budget is generally thought of as a rigid plan on how you can spend your money. While this is true, you may want to think of it as a "household spending analysis." That does not sound so onerous and it better implies how you can use it to build a solid financial foundation and feel more in control of your finances. A sample spending analysis worksheet is included.
• Buying Your First Car - Buying a car is exciting, potentially stressful, and often expensive. In fact, for many people, buying a car is the third most expensive type of transaction they have - after a house and an education. To the process easier, consider that there are three parts of the process - choosing the car you want, negotiating the purchase, and paying for the car.
• Getting and Using Your First Credit Card - A "first" credit card can be exciting, tempting and intimidating. Credit cards are a great convenience, but they are also borrowing money that must be repaid. Here are some ideas to keep in mind as you get your credit card and use it.
• Establishing a Relationship with a Financial Institution - A good working relationship with a financial institution is part of a solid financial foundation. Finding the right one is important. There are probably dozens, if not hundreds, of institutions that offer the products and services you want and need either located close by or with which you can create an electronic relationship. This article describes some of the issues to consider when choosing an institution.
• Buying Your First House - Owning your own home has been part of the "American Dream" for years. The pride of ownership and sense of "belonging somewhere" have been strong factors in motivating over 60% of all households to own their own homes. In addition, there can be true financial rewards from home ownership. But, not always.
• Making Your First Investments - You may already be making investments through your retirement plan at work, but at some point you may have funds that you want to invest on your own. This article focuses on some simple issues you should consider and provides some details on how to take that step.
• Filling Out The Paperwork For Your First Job - After the interview, the salary negotiation and getting hired, you will probably go to the Human Resource Department or see the Business Manager to handle some of the financial details of your job. Understanding those details ahead of time and being prepared to address them can make the paperwork much easier.
• Handling Your First Retirement Plan Distribution When Changing Jobs - If you have participated in a company retirement plan like a 401(k) plan and change jobs, you will probably receive a distribution of the funds you have accumulated in your plan. If you have participated for several years, the distribution could be quite substantial. Over the course of your working career, you may receive several lump sum distributions and what you do with those funds and how you handle the distribution is important.
• Filing Your First Income Tax Return - It may sound frightening, but it not as bad as it may sound. Filing income tax returns is something that everyone has been doing since 1913 and it is something you will be doing for the rest of your life. You may decide to use a professional to prepare your return or prepare it yourself with or without the help of income tax software. In any case, there are some things you should know to make the whole process easier.