Being self-sufficient is a skill that doesn’t always come naturally to everyone. To keep up in this unpredictable, ever-changing world, you must know how to be a headstrong professional. Learning to survive and thrive is an art that’s essential for any level of success you aim to reach in your career.
After all, you only have yourself to count on in the end. Thus, the ability to manage on your own is crucial in your personal and professional life. And a large part of that is being confident in who you are and what you believe in. You need to take charge of your life and the choices you make. Listen to your own voice and ignore comments from others that are not useful.
Be that as it may, you must also remember that independent living requires several things or tools that can help you manage and enjoy your career. Regardless of your field, every young professional has a list of must-haves to help them become independent. For instance, investing in financial literacy is something you must prioritize to support yourself.
In this article, we’ll tackle the necessary purchases for young professionals on their journey to independent living. You can use it as your go-to reference if you need to get a head start on your goals.
7 Necessary Purchases of a Young Independent Professional
- Laptop
A laptop is necessary for your job or business. It would help if you had a laptop that could handle everything you need, whether traveling for work or trying to juggle busy family life with a demanding career. While finding the right laptop for your specific work type may seem hard, you can look for excellent laptop options online based on your requirements.
A laptop designed specifically for young professionals can also serve you in other aspects such as entrepreneurship, freelancing, investing, and even occasional gaming.
Look for quality laptops with robust security mechanisms to protect your data. Although there are no strict requirements for a computer for young professionals, some of the factors you should consider are their value for money, warranty, ease of use, and the like.
- Insurance policy
Young professionals rarely consider life insurance. Unless you already have dependents, it is usually not a priority for many. However, there are significant benefits to obtaining coverage even while young if you have dependents such as children or a spouse. Unexpected accidents and disabilities can happen, and you want to be prepared for those events.
Remember, life is inevitably unpredictable, so being positive and living a healthy lifestyle are essential. You must have comprehensive life and health insurance coverage, even if you are young and in good health. The earlier in life you purchase insurance coverage, the more affordable your premiums will be.
- Car
Many millennials will understand the frustration of wanting a nice-looking car but not being able to purchase it. You need a dependable car for practical reasons, but it shouldn’t strain your budget. Purchasing a car that’s right for you as a young professional could be one of your top goals.
At the same time, you will need to factor in car maintenance expenses, including insurance. The good news is that buyer-friendly payment methods, such as installment buying, enable you to own your dream car.
- Wardrobe
As the adage goes: dress for the job you desire, not the job you have. This approach can also be used to land the job you want. Dress the part to impress potential employers. Thankfully, e-commerce stores are prevalent nowadays, so it’s easy to score work outfits for interviews, client meetings, and so on.
Tailoring an outfit isn’t as costly as you think, especially if you can buy from a small, family-owned local store. Good quality clothing items are a worthy investment for young professionals like yourself.
- Health investment
Nowadays, preventative care is more critical than ever, thanks or no thanks to the COVID-19 pandemic. It’s always a good idea to buy products and services that benefit your health. These may include purchasing a gym membership or enrolling in your local community center fitness classes.
It could also involve paying for your annual dental or OB-GYN checks. Remember to invest in your mental wellness as well.
- Travel
As a young adult, you most probably have the freedom to pursue new experiences and travel to new places. If seeing the world is important to you, take advantage of the opportunity to go on a trip! If you’ve always wanted to learn about a different culture or society, now is the time to start planning.
Engage in these new adventures for more than just the financial rewards of being a digital nomad. Experiences can help you select who you want to be as an adult and contribute to your personal growth. Simply budget your money well to do this.
- Retirement fund
Early contributions to a retirement account can help you use this powerful instrument.
Even if you put in less money for an extended period, your returns will grow fast. You could also invest more money in a shorter time, but the gains might not be substantial because you’re not benefiting from compounding. That’s why many financial advisers urge people in their twenties to begin saving for retirement as soon as possible.
Make a Decision and Stick with it
Every young adult reaches a point when they must make crucial decisions, including spending on necessary purchases. The situation may differ for everyone, but it usually entails a financial and emotional leap of faith. It’s a daunting prospect, but making the purchase could change your life for the better.
You could, for instance, finally decide to purchase a condo or a home of your own. Perhaps you’ve always wanted to return to graduate school or accept a job offer on the other side of the country and must purchase an airline ticket with a substantial price to relocate.
These purchases are all part of adult life decisions. They are significant investments that can have the greatest impact on your professional and personal life.
