Newly Corporate

As a newly corporate young adult, chances are you’re earning more money now than you ever have before. This is an exciting time, and you should enjoy it. Regardless of how large your paycheck is, you can live a “rich” life by following three simple steps:

1) Know your passions
Do a little soul searching and make a short list of your passions. Be they travel, cars, electronic gadgets, music, art, or beer. Give this
list some order so you can differentiate between your ultimate top can’t-live-without passions and the rest.

2) Know your budget
You can read more about budgeting here or at thevicenarian. It’s not as hard as it sounds, and it’s a crucial step in living a rich life. Without a budget, you will quickly discover how easy it is to spend 110% of your income.

3) Spend on your passions (and save on the rest)
Set aside a portion of your budget to feed your passions, and save a bit elsewhere. For example, I am passionate about computers and
photography, but not about cars. I spent the same amount on my computer and camera as I did my car. In this way, I’m living a rich
life on a relatively small budget.

By directing your spending to match your passions, you can live the rich life without spending all your hard-earned cash (or worse, drifting into debt).

This post written by guest author Tad. Read more of his work at thevicenarian.com, a blog of financial advice for the twenty-something.