Sh#t you should know by now

Adulting sucks, but here is some shit you should know now that you are one.

1. You can stay on your parent’s health insurance until you’re 26…

Just because you are an adult doesn’t mean you should make poor financial decisions. You can stay on your parents health plan even if you are: married, not living with your parents, are attending school, are not financially dependent on your parents or are eligible to enroll in your employer’s plan.

2. You can get a discount on your auto insurance if you go back to drivers ed

Well sort of.. you can get a discount for taking a defensive driving course. Visit your insurance company’s website for a full list of available discounts. Here is what Allstate offers.

3. Your student loans are costing you money and you should figure out exactly how much

Lenders typically give you a six month grace period after you graduate where you don’t have to make any payments on your student loans. But in most cases your interest will continue to accrue during that time. Beyond that, find out what your interest rate is, compare that to what other banks are currently charing. You may want to refinance and consolidate your student loans to save yourself some bucks.

4. Your credit cards are not free. They charge interest, and usually quite a bit.

Credit cards charge interest in what is know as APR or annual percentage rate. This is what your credit card company charges you for keeping a balance on your credit card. You are charged interest if you don’t pay off the full amount you owe each month. This money adds up and can really bite you in the ass if you don’t properly manage your expenses. Make sure you know what your APR rate is when signing up for a credit card and don’t forget to comparison shop for the lowest rates.