Turning 18 is a big deal in life because you are finally a legal adult and your about to graduate from high school. It is a new experience for young adults because now all the pressure is on and you in control of your own life. The freedom and ability to choose your own path is a great problem to have because the opportunities are endless on what a person wants. The problem that kids do not realize and I think need to be changed is the cost of trying to get comfortable living in life.
One major problem is the number of bills that young people have to start paying for themselves. A car is a necessity to get a person to school or work and car insurance is the most expensive at a younger age due to the lack of inexperience and the increased risk of a child participating in poor behavior while operating the vehicle. Most people need a cell phone for many uses and that is another expensive bill. The more people on a plan the cheaper it is, but most people only get their own.
Some parents expect children to pay their own bills and get a job while they attend college or tech schools to learn responsibilities and start supporting themselves. Although some parents make children pay rent and utilities or ask them to get their own place and that is had to do when only working a minimum wage job without school experience. Getting a college degree or certified in a tech school can take 2 years, but if the student has to work a lot to support themselves then it takes longer to just get their basic knowledge for their job.
Establishing credit is something that many young adults struggle with because no place wants to give you the first chance to do it which makes no sense. People will apply for loans and credit cards and be denied because they have no credit, but you can't get any because you are not given the fair chance to work hard at making your payments on time and avoiding falling into a huge amount of debt. Credit cards can help teenagers with emergency situations and can help them attempt to establish their future credit when they need to make a purchase on a home or car. These are necessities in everyday life and the fact that nobody wants to be the first to trust you is extremely annoying and not fair.
The responsibility of learning to budget money and make the payments on time would be great if they were affordable for students. They should have small set limits to start out to teach them how to budget their credit card. Credit cards can be dangerous if you spend too much that is not within your financial means, but they are a good way to get established for the future. Buying a house is a big deal and if a younger adult does not have any credit they will easily be denied if they do not have good credit with tons of experience in paying their debt back.
Obtaining school loans is the hardest task I have ever had to deal with. I have struggled to get approved due to our absurd system of needing a cosigner to sign for the student. Most college kids are pretty responsible because they typically are maturing and gaining plenty of responsibilities and they have gained knowledge from their parents to become better. Parents have their own finances to worry about and being an adult at 18 or older we wanted to take the responsibility on ourselves to take out the loans. Taking out the loans in your own name can make a person feel good that they have been given the opportunity and work harder knowing you're doing this all by yourself and becoming a full adult.
The way the world is set up is a little too difficult for a younger adult to get established in their career and schooling to ensure they live a happy and healthy life. The key to a persons success is finding what they want to do and making sure they have the right schooling or certification to get in the career field they choose. People will all need to have money and credit to get necessities like houses and cars in their lives in order to provide for their families to ensure they are happy and healthy. Young adults have a lot of stress and change happening in their lives and they are still trying to gain the knowledge, experience, and opportunities they need to become stable with their money so they can enjoy their job and come home to their family and be happy.