Turning 18 Checklist What Are The First Things You Should Do
Turning 18 is a significant milestone, marking the transition into adulthood and bringing a wave of new opportunities and responsibilities. It's a time filled with excitement, freedom, and the chance to shape your own future. However, with these newfound privileges come important decisions and actions that you should consider taking. This comprehensive guide will walk you through the essential steps and considerations as you embark on this exciting new chapter.
1. Register to Vote: Exercising Your Civic Duty
One of the most crucial first steps upon turning 18 is to register to vote. Voting is a fundamental right and a cornerstone of democracy. It allows you to participate in shaping the future of your community, state, and country. Your vote is your voice, and it's essential to use it to advocate for the issues and policies you believe in.
Why is registering to vote so important? Because it empowers you to choose the leaders who will represent your interests and make decisions that affect your life. From local elections to national campaigns, every vote counts. By participating in the electoral process, you contribute to a more representative and responsive government.
Registering to vote is a simple process, and the requirements vary slightly by state. Generally, you'll need to be a U.S. citizen, at least 18 years old, and meet your state's residency requirements. You can typically register online, by mail, or in person at your local election office. The National Voter Registration Act, also known as the Motor Voter Law, makes it even easier to register by allowing individuals to register when they apply for or renew their driver's licenses.
Don't wait until the last minute to register. Deadlines vary by state, so it's best to register well in advance of any upcoming elections. You can find information on voter registration deadlines and requirements in your state by visiting your state's election website or the U.S. Election Assistance Commission website.
Once you're registered, take the time to research the candidates and issues on the ballot. Educate yourself on their platforms and positions, and consider how their policies will impact you and your community. Attend town hall meetings, read news articles, and engage in respectful discussions with others to form your own informed opinions.
Voting is not just a right; it's a responsibility. By participating in the democratic process, you contribute to a more just and equitable society. So, make sure to register to vote and exercise your civic duty in every election.
2. Obtain a Driver's License or State ID: Establishing Identification
Having a valid form of identification is essential for various aspects of adult life. Whether it's opening a bank account, applying for a job, or simply proving your age, a driver's license or state ID card is a necessity. If you haven't already, obtaining one of these documents should be a priority when you turn 18.
A driver's license is the most common form of identification, granting you the privilege to operate a motor vehicle. If you plan on driving, obtaining a license is crucial. The process typically involves passing a written exam, a vision test, and a driving test. Some states may also require you to complete a driver's education course.
Even if you don't plan on driving, a state ID card is a valuable alternative. It serves as official proof of your identity and age, allowing you to access various services and facilities. The process of obtaining a state ID card is generally simpler than getting a driver's license, usually requiring you to present proof of identity, residency, and social security number.
Both driver's licenses and state ID cards are essential for everyday activities. They allow you to verify your identity when interacting with law enforcement, boarding a plane, or entering establishments that require age verification. They also serve as proof of your address, which is necessary for various transactions and applications.
To obtain a driver's license or state ID card, visit your state's Department of Motor Vehicles (DMV) or equivalent agency. You'll need to provide the required documentation, which may include your birth certificate, social security card, and proof of residency. Be sure to check your state's specific requirements before you go.
Having a valid form of identification is not just a convenience; it's a responsibility. It ensures that you can verify your identity and access the services and opportunities available to you as an adult. So, make sure to obtain a driver's license or state ID card as soon as you turn 18.
3. Open a Bank Account: Managing Your Finances
Turning 18 often means taking on more financial responsibility. Whether you're starting a job, managing your own expenses, or saving for the future, having a bank account is essential for managing your finances effectively. Opening a bank account allows you to deposit and withdraw money, pay bills, and track your spending.
Choosing the right bank account is an important decision. There are various types of accounts available, each with its own features and benefits. Checking accounts are designed for everyday transactions, allowing you to deposit and withdraw funds, pay bills, and make purchases. Savings accounts are designed for saving money, offering interest on your deposits.
When choosing a bank, consider factors such as fees, interest rates, ATM access, and online banking services. Some banks offer accounts specifically for young adults, which may have lower fees or other benefits. Compare the options available to you and choose the account that best fits your needs.
Opening a bank account is a relatively simple process. You'll typically need to provide identification, such as a driver's license or state ID card, and your social security number. You may also need to make an initial deposit to open the account.
Once you have a bank account, it's essential to manage it responsibly. Keep track of your balance, monitor your transactions, and avoid overdraft fees. Set up online banking to easily access your account information and manage your finances from anywhere.
Having a bank account is a crucial step towards financial independence. It allows you to manage your money effectively, save for your goals, and build a strong financial foundation for the future. So, make sure to open a bank account as soon as you turn 18.
4. Understand Credit and Build a Credit History
Credit is a crucial aspect of adult life, affecting your ability to secure loans, rent an apartment, and even get a job. As you turn 18, it's essential to understand credit and begin building a positive credit history. Your credit history is a record of your borrowing and repayment behavior, and it's used by lenders to assess your creditworthiness.
A good credit history can open doors to various opportunities, while a poor credit history can make it difficult to obtain credit and may result in higher interest rates. Building credit takes time and effort, but it's a worthwhile investment in your financial future.
One of the first steps in building credit is to obtain a credit card. A credit card allows you to borrow money and repay it later, building a credit history as you make payments. However, it's crucial to use credit cards responsibly. Only charge what you can afford to repay, and make your payments on time.
There are various types of credit cards available, including secured credit cards, student credit cards, and rewards credit cards. Secured credit cards require a security deposit, which serves as collateral for the credit line. Student credit cards are designed for college students, often offering features tailored to their needs. Rewards credit cards offer points, miles, or cash back on your purchases.
When choosing a credit card, consider factors such as interest rates, fees, and rewards programs. Compare the options available to you and choose the card that best fits your needs and spending habits. Avoid applying for multiple credit cards at once, as this can negatively impact your credit score.
In addition to credit cards, you can also build credit by taking out other types of loans, such as student loans or auto loans. However, it's essential to borrow responsibly and make your payments on time.
Monitoring your credit report is also crucial. Your credit report contains information about your credit history, including your credit card accounts, loans, and payment history. You can obtain a free copy of your credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) once a year.
Review your credit report carefully for any errors or inaccuracies. If you find any, dispute them with the credit bureau. Maintaining a positive credit history is an ongoing process. By understanding credit and using it responsibly, you can build a strong credit foundation for your future.
5. Understand Insurance: Protecting Yourself and Your Assets
As you transition into adulthood, it's crucial to understand the importance of insurance. Insurance provides financial protection against unexpected events, such as accidents, illnesses, and property damage. Having the right insurance coverage can protect you and your assets from significant financial losses.
There are various types of insurance to consider, depending on your circumstances and needs. Health insurance is essential for covering medical expenses, including doctor visits, hospital stays, and prescription drugs. Auto insurance is required in most states for drivers, providing coverage for accidents and damages.
If you rent an apartment, renter's insurance can protect your personal belongings from theft or damage. If you own a home, homeowner's insurance provides coverage for damages to your property and liability protection.
Life insurance provides financial protection for your loved ones in the event of your death. Disability insurance provides income replacement if you become disabled and unable to work.
Understanding the different types of insurance and their coverage is essential. Compare policies from different insurers to find the best coverage at a competitive price. Consider factors such as deductibles, premiums, and coverage limits.
Insurance is an investment in your future financial security. While it may seem like an added expense, it can protect you from potentially devastating financial losses. Make sure to understand your insurance needs and obtain the appropriate coverage as you turn 18.
6. Review Your Health Information and Consider Health Care Proxies
Turning 18 also means you can now make your own healthcare decisions. Review your health history, including any allergies, medications, and medical conditions. It's also a good time to establish a relationship with a primary care physician.
Consider creating a healthcare proxy, also known as a durable power of attorney for healthcare. A healthcare proxy is a legal document that allows you to appoint someone you trust to make healthcare decisions on your behalf if you become unable to do so. This is an important step in ensuring that your healthcare wishes are respected.
Discuss your healthcare wishes with your family and your chosen healthcare proxy. Make sure they understand your values and preferences regarding medical treatment. Having a healthcare proxy in place can provide peace of mind knowing that your wishes will be honored.
7. Update Beneficiary Designations
If you have any accounts or policies with beneficiary designations, such as life insurance policies or retirement accounts, it's essential to update them when you turn 18. A beneficiary is the person or entity you designate to receive the assets from your account or policy in the event of your death.
Review your beneficiary designations and make sure they reflect your current wishes. If you want your parents or other family members to remain your beneficiaries, you don't need to take any action. However, if you want to designate someone else, such as a spouse or partner, you'll need to update the beneficiary designations with the financial institution or insurance company.
Failing to update your beneficiary designations can lead to unintended consequences. The assets may be distributed according to the default rules of the account or policy, which may not align with your wishes. Take the time to review and update your beneficiary designations to ensure that your assets are distributed as you intend.
8. Consider a Will or Estate Plan
While it may seem early to think about estate planning at 18, it's never too soon to consider your options. A will is a legal document that specifies how you want your assets to be distributed after your death. If you die without a will, your assets will be distributed according to state law, which may not align with your wishes.
Even if you don't have significant assets, a will can provide clarity and guidance for your loved ones. It can also designate a guardian for any minor children you may have.
Consult with an attorney to discuss your estate planning needs and options. They can help you create a will or other estate planning documents that reflect your wishes.
9. Be Aware of Your Rights and Responsibilities
Turning 18 comes with new rights and responsibilities. You're now considered an adult in the eyes of the law, and you have the right to enter into contracts, own property, and make your own decisions. However, you also have responsibilities, such as paying taxes, obeying the law, and fulfilling your financial obligations.
Understand your rights and responsibilities as an adult. Be aware of the laws in your state and community. Seek legal advice if you have questions or concerns about your rights or obligations.
10. Set Goals and Plan for the Future
Turning 18 is an exciting time to set goals and plan for your future. Think about what you want to achieve in your personal, educational, and professional life. Set realistic goals and develop a plan to achieve them.
Consider your education and career options. Do you want to attend college or vocational school? What career path interests you? Research your options and make informed decisions about your future.
Develop a financial plan to manage your money effectively. Set savings goals and create a budget to track your income and expenses. Start investing early to take advantage of compounding returns.
Turning 18 is a significant milestone. By taking these steps, you can start building a strong foundation for your future and embrace the opportunities that come with adulthood.
