The New Year is upon us and as one half of a young couple, I can already see the struggles ahead. For young people who choose to marry early, it can be difficult to begin a family based on certain financial struggles. Young couples soon find out that while marriage is a blessing and they love their significant other, being able to survive on your own financially, without anyone else’s help, is difficult.

 
Starting Out
When a young couple gets married, they will soon find that financial struggles abound, if not thought out carefully. Most young people have no form of credit. Without credit, individuals cannot rent an apartment, buy a car, buy a home, take out a loan, etc. It is essential that once you are of age to have a credit card or can take out a small loan, that you do so. Be smart about the credit card or loan, to be able to build credit. This way, when you are married, you will be able to build a strong financial future for your family.

 
Save, Save, Save
Even though you will be starting your family at a young age, you should still take time to save. Use your current job, or get a job, to be able to create a small savings to help you get started. You will need money to rent an apartment, rent a home, pay bills, etc. When you save before you begin your life together, you will have something to fall back on if you become overwhelmed financially.

 
Cost of Living
Most young people do not know the actual cost of living because they have relied on their parents to pay the bills. When you move out on your own, you will have a cost to rent an apartment or home, light bill, cable bill, mobile phone bill, car payment, insurance, etc. The list can go on and on. Then, you have to add in the cost of food as well as any entertainment or additional bills you may have.

 
It is important to write down all of you and your partner’s bills. Then, write down how much you both will be bringing in based on income. Be sure that you have money left over after covering all of your expenses. You may find that you have to cut a bill or two to be able to afford your new life out on your own.

 
Responsibility, Not Fun
Many young people find themselves in financial hot water after moving out on their own. They find the freedom exhilarating and soon rack up credit card bills going shopping or going out on the town. It is not until the first bill arrives that the young person realizes what they have done. Be smart with your money. Go out when you can and pay cash. Leave the credit cards at home so you will not be tempted to spend money that you do not have. There are plenty of fun things to do for free and you need to save your money to be responsible and pay the bills you have now that you are out on your own.

 
As a young hairdresser, it is hard to cover the bills sometimes. You have to learn, as I have, to stretch your money. You may not always be able to go out or have new clothes. This is part of growing up and a teaching moment, to learn just how you can save money and learn how the real world works. Be smart and you will be successful as you strike out on your own.

The Financial Struggle Of Young Adults Couples in 2016