College is traditionally a forum for a range of new experiences. One of the most significant — and sometimes overwhelming — is living independently. This is a key milestone that can influence how you approach the rest of your life.
This transitionary period from your teenage years to adulthood is certainly challenging. There will be hurdles that school and perhaps your parents haven’t been able to prepare you for. Nevertheless, with a little knowledge and planning, you can adapt to these elements and thrive during your time at college.
Financial Choices
When you’re living independently for the first time, you may be overwhelmed by finances. Many students often don’t have their parent’s financial support and have to find a way to pay for rent, food, and other necessities. While many people have a general sense of what goes into money management, the reality can be more involved and complex. The good news is, with some preparation and knowledge, you can thrive.
Budgeting
Living within a budget is essential for a student. In all likelihood, you won’t have unlimited funds available to you. Having plans that enable you to live within your means can give you more control and reduce stress. At least once a month, spend some time assessing what your expected income will be for the month ahead and outline the essential expenditures. You’ll then have an idea of the amount you have available to allocate toward recreation, savings, and a fund for emergencies.
Car purchasing
Many students buy their first car when they go to college. This is a big financial decision where you can make a lot of mistakes. To avoid any errors, get a good understanding of your personal finances so you have an accurate sense of your price range. You should also weigh up whether it’s more appropriate for you to take out a loan, purchase a vehicle outright, or lease a car.
When it comes to actually choosing your car, be mindful of your wants versus your needs, as non-necessary features can significantly bump prices. You should also seek out deals that are designed for students. Speak to dealers about student discounts. Some insurance companies will also provide lower rates for students willing to attend defensive driving courses.
Credit score
As an independent adult, one of the resources that may be new to you is your credit score. When treated responsibly, a good credit score can open you up to a range of financial opportunities and favorable terms both now and in the future. However, a mishandled credit score can result in greater limitations.
It’s worth using this time to strengthen your credit score. Taking out a limited number of credit cards, utilizing them sparingly, and paying them off regularly can be a way to achieve this. Stay disciplined with this type of approach. Keep limits as low as possible and mitigate overspending.
Evaluating and Maintaining Your Assets
When you’re living independently at college, you are likely to have a range of valuable assets and items at your disposal. Some of these you’ll bring with you from your childhood home and others you will acquire during your time at school. To make room for the latter, you’ll want to consider decluttering some of your old mementos before you move. Although some are good to have around, they may end up holding you back to your full potential, and could even clutter your mental and physical space as your move forward in life.
You should also spend more time maintaining the items you do keep as they’ll maintain their value and effectiveness in the long term. This is key for several types of items.
Vehicles
Having a vehicle at college not just gets you from A to B, but also provides opportunities for road trips during vacations. In hotter months, it’s important to apply some summer car maintenance actions that keep your vehicle both functional and safe. This includes monitoring fluid levels — particularly coolant.
The switch from cold to hot weather can also impact tires, so check for wear and pressure regularly. Heat can put additional strain on your battery, so it’s vital to occasionally check its condition and clean the collections.
Electronics
Electronic equipment is more prevalent in student life today than in previous generations. Laptops are likely to be key both to completing assignments and attending remote classes. Not to mention that a smartphone is a core component of your daily life. It’s important, then, to extend their life through solid maintenance. Ensure your computer has good virus protection. Avoid smoking, eating, or drinking around electronics to avoid contaminants. You should also take care not to leave any of your devices in direct heat or cold, as this can affect the lifespan of the battery.
Safeguarding Your Wellness
Your most important resource is your health. It impacts your quality of life and your ability to be productive. As a college student living independently, you may find that this is the first time you’ve had complete control of your wellness. You should build a routine so you can maintain your health and educate yourself on the resources that can help you keep it that way.
Health insurance
Health insurance may be one of the most complicated aspects of adulthood, but it’s one of the most essential if you want to stay healthy. While you still may be covered by your family medical plan, you should still gain a better understanding of its coverage and its in-network providers in your area.
There are also student health plans specifically designed for those heading to college. Like other insurances, these vary in how comprehensive they are. No matter what insurance you have, though, review your particular health needs and sign up for coverage that meets these.
Mental health
While college can be an enriching experience, you may also be subject to various forms of emotional and psychological strain. This may be stress related to your course load or personal life. You might experience depression or anxiety due to your independent living arrangements.
It’s important to regularly check in with yourself to understand the state of your mental wellness and find others for support when you’re struggling. This could involve discussing your struggles with your college professors when your stress is school-related or with professional therapists if you’re finding symptoms disruptive to your quality of life. Perhaps most important is gathering a support network of friends and family that you can talk to when you’re finding life challenging.
Conclusion
Living independently as an adult at college can be daunting, but you can take steps that enable you to thrive. However, these steps aren’t designed to protect you from all challenges. The hurdles you face and the journeys you take to overcome them can be vital growth experiences. Be open to making mistakes and keep communicating with those who can provide you with guidance in overcoming them.
