What is Adulting?
Ah, adulting—a term that conjures up images of paying bills, managing finances, and maintaining a semblance of order in a world that often feels chaotic. For Gen Z and millennials, adulting encapsulates the day-to-day responsibilities that come with transitioning from adolescence to adulthood. It’s the moment you realize that no one else is going to take out the trash, make your doctor’s appointments, tell you where to go or where to be, or figure out why your car is making that weird noise. Adulting can be a rude awakening, a badge of honor, and sometimes, a heavy burden.
Who is Affected by Adulting?
While adulting is something that eventually touches everyone, Gen Z (born 1997-2012) and millennials (born 1981-1996) seem to be particularly vocal about their struggles with this transition. The unique challenges faced by these generations—such as economic pressures, financial difficulties, a tough job market, and the expectation to excel in education without the guarantee of a job—make adulting feel like climbing Mount Everest in flip-flops.
Adulting in 2024: The Reality Check
Economic Pressures
In 2024, economic pressures are more intense than ever. Inflation rates are high, and the cost of living continues to rise. According to the U.S. Bureau of Labor Statistics, the inflation rate was 6.2% in 2021 and has shown little sign of stabilizing. Budgets are feeling the pinch as everyday expenses like groceries and rent skyrocket, turning smart financial decisions into a survival skill.
Financial Difficulties
Student loans remain a significant burden. Millennial wallets are taking a serious hit: student loan debt has soared to $1.7 trillion, leaving an entire generation to deal with the financial fallout. For many, paying off student loans feels like throwing money into a black hole with no end in sight. Add credit card debt into the mix, and financial stress becomes a daily companion.
Tough Job Market
Despite advancements in technology and remote work opportunities, the job market is tough. According to the Economic Policy Institute, the job-seeking experience for young adults is fraught with underemployment and jobs that don’t match their skill levels. The dream of landing a secure, well-paying job right out of college often remains just that—a dream.
The Housing Market
Owning a home is a significant milestone in the adulting journey, but it’s increasingly out of reach for many. The National Association of Realtors reports that the median home price in the U.S. hit a record high in 2023, making homeownership a distant goal for those saddled with debt and trying to save for a down payment. Renting isn’t much easier, with rental prices skyrocketing in major cities across the country.
Financial Literacy: The Key to Adulting
One of the biggest hurdles in adulting is financial literacy. Many young adults feel behind when it comes to understanding credit cards, managing credit scores, and paying bills. A 2021 survey by the National Financial Educators Council found that the average financial literacy score among Americans aged 18-34 was just 54%, indicating a significant gap in knowledge.
Credit Cards and Credit Scores
Credit cards can be both a blessing and a curse. By using credit cards thoughtfully, you’ll find they not only springboard your credit journey but also reward you with sweet perks. If mishandled, these can snowball into serious debt and a credit score nightmare. Mastering the ins and outs of credit scores gives you a distinct financial advantage. Imagine having the financial upper hand, snagging low-interest loans, scoring your dream home/apartment, and landing your top-choice job – it all starts with a great credit score.
Bills and Budgeting
Managing bills and budgeting can feel like a full-time job. Planning and organization are the unsung heroes of getting things done. Utilizing budgeting apps like Mint or YNAB (You Need a Budget) can help track expenses and ensure that bills are paid on time.
The Psychological Toll: “I Don’t Even Know What the Hell I’m Doing!”
It’s not uncommon for young adults to feel like they’re fumbling through adulthood. Imagine trying to meet the demands of everyone else while silently worrying we’re falling short – it’s a recipe for feeling overwhelmed and unsure. You’re not solo in this emotional tug-of-war and recognizing the legitimacy of your feelings is the first step towards finding support and peace.
Societal and Parental Expectations
Many young adults feel the weight of narratives passed down by parents, family, and society about what it means to be an adult. The expectation to have a stable job, own a home, and start a family by a certain age can feel overwhelming. Even when you get the well-paying job, corporate position, and the job title there may still be feeling of “something missing” that although you may be in a better financial position the stress to maintain it makes you question “is keeping up with this worth it?”. Looking at your parents or society as a model then being an adult often looks like not being reckless, “being responsible” and disciplined, being dependable, and making sacrifices for a better life. But what if those sacrifices end up not being worth it just because it is what you saw or was told from what your family or parents did. It’s okay to question these expectations and carve out your own path.
The Desire to “Still Be a Kid”
There’s a natural longing to return to the carefree days of youth. Adulting can feel relentless, and it’s normal to wish for a break. Mental health requires a break from the daily grind; pencil in some me-time and prioritize your own happiness. Whether it’s binge-watching your favorite show, playing video games, coloring/painting, playing a card game, shopping for a new figure or collectible, or simply taking a nap, giving yourself permission to relax can recharge your batteries.
Strategies for Navigating Adulting
1. Educate Yourself
Financial literacy is not always taught in schools, so take the initiative to educate yourself. Websites like Investopedia, financial blogs, and books like “Rich Dad Poor Dad” by Robert Kiyosaki can provide valuable insights. There are also some useful TikTok and YouTube channels that focus on teaching you valuable skills that you may not have experienced while in school.
2. Set Realistic Goals
Setting realistic and achievable goals can help manage the overwhelming nature of adulting. Don’t get overwhelmed – transform your ambitious objective into a series of gentle, incremental accomplishments. For example, if your goal is to buy a house, start by setting a savings target for your down payment.
3. Create a Budget
A budget is your financial roadmap. Start by looking at your money inflows and outflows, then break down your spending into categories to spot those fatty pockets where you can pinch some pennies. By using budgeting apps like Mint and YNAB, you’ll be sailing smoothly towards financial harmony in no time.
4. Build a Support System
Surround yourself with supportive friends and family who understand your struggles or who could serve as a guide or mentor. The simple act of discussing your troubles can bring a sense of calm, almost like a deep breath on a rough day. Joining online communities or support groups can also offer a sense of belonging and shared experience.
5. Seek Professional Advice
Don’t hesitate to seek advice from financial advisors, career counselors, or therapists. Having a pro in your corner can be a game-changer – you’ll gain crystal-clear insights and proceed with certainty.
6. Practice Self-Care
Self-care is not just a luxury; it’s a necessity. Don’t be afraid to schedule some me-time, whether that means pounding the pavement, sitting in stillness, or simply doing something you love, guilt-free. Adulting gets a whole lot easier when you’re running on a full tank – mentally and physically.
Conclusion: Find the beauty in the grind, because life’s path is just as important as the destination.
These days, growing up means being brave enough to face your fears, embracing your quirks, and willing to take the road less traveled – even when it gets messy. Picture this: you, ruling the adult world with confidence and poise. It’s achievable, but first, you need to lay the groundwork. That means learning as much as you can, aiming high but staying realistic, and showing yourself some love along the way. Then, watch your potential unfold. The freedom to embrace uncertainty is kind of liberating, isn’t it? Adulting is a journey, not a destination, and it’s perfectly normal to take it one step at a time. You’re not behind or “not a real adult” just because you don’t know how to do these things immediately after high school. For some their parents, families, or even school program taught them these skills, for others this was a means of survival to know how to do things early due to gaining duties and responsibilities earlier on in their life, and while for others they may be almost 30 still trying to figure out how to make a proper budget and financial plan. You may be learning things at a later time than others, and that’s okay, because that’s the thing-you’re still taking the time to learn it.
At Rethinking Me Therapy we understand the unique challenges faced by Gen Z and millennials. Looking for a trusted confidant to share the burden of adulting? Our seasoned therapists offer a listening ear, expert guidance, and a comforting presence to get you through life’s highs and lows. Are financial fears or career self-doubt weighing you down? Let us help you break free from the noise and discover a clear, actionable plan to move forward with confidence. Life got you feeling out of whack? Take the first step towards a more balanced, satisfying adulthood by talking to us about your goals and aspirations. Let’s get started today in helping you be and feel like a more confident adult, while still being authentic to your goals and values.
References
- U.S. Bureau of Labor Statistics. (n.d.). CPI Inflation Calculator. Retrieved from https://www.bls.gov/data/inflation_calculator.htm
- Federal Reserve. (2021). Consumer Credit – G.19. Retrieved from https://www.federalreserve.gov/releases/g19/HIST/cc_hist_sa_levels.html
- Economic Policy Institute. (2021). The Class of 2021: Young Workers Face Staggering Unemployment. Retrieved from https://www.epi.org/publication/class-of-2021/
- National Association of Realtors. (2023). Existing-Home Sales. Retrieved from https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales
- National Financial Educators Council. (2021). Financial Literacy Survey. Retrieved from https://www.financialeducatorscouncil.org/financial-literacy-statistics/
- Mint. (n.d.). Personal Finance App. Retrieved from https://www.mint.com/
- YNAB. (n.d.). You Need a Budget. Retrieved from https://www.youneedabudget.com/