Almost 18?

Soon the majority! At 18, life is ahead of you with its share of responsibilities and expenses. Here are 4 types of expenses you will face.

Monthly charges

Like many young people, at 18, you may want to take off and start looking for accommodation. Whether you opt for a kot or a shared apartment, in addition to the rent, you will have to take into account the monthly charges (water, gas, electricity but also internet and mobile phone subscription). What will your income be? Will you still have financial help from your parents or not? Very quickly, the bills will arrive, even pile up. They must be paid on time if you want to avoid additional costs or even receive a formal notice from a debt collection company. Life is made of choices. Even at 18, your choices can have important consequences.

The insurance

Your driving license in your pocket is good. A car or a motorbike is better! In addition to the purchase price of the vehicle, you will have to insure it. The cost of insurance for a young driver should not be neglected. Do not hesitate to contact several insurance companies or brokers to find out the amounts of premiums to pay before purchasing your first vehicle. Prevention is better than cure! Also don't forget to insure your accommodation. This is a legal obligation.

The subscriptions

Whether you choose to subscribe to a weekly magazine or a gym, it is important for you to be sure you can pay for it each month. You must take the time to read the contract carefully before committing. Most contracts include specific clauses to suspend or stop the subscription. Read them carefully and keep a copy of this signed contract. If you subsequently have to suspend or stop your subscription, carefully reread these clauses to which you have agreed. A unilateral breakup often leads to administrative or even financial hassles. Forewarned is forearmed!

Exceptional expenses

Even if you are well organized, no one can say what tomorrow will bring. You may be well insured but no one is safe from an exceptional expense. At 18, if you are still a student, you remain under your parents' mutual insurance. Are you covered by additional insurance, hospitalization insurance? Check with them beforehand. In your home, everything will perhaps be new. Unfortunately, some things get damaged very quickly. It's better to be organized and, when equipment shows signs of weakness, save money when possible. So you can face its replacement when the time comes.

At 18, many horizons are available to you. Choosing a path means facing its advantages and disadvantages, its freedoms and its responsibilities, both legal and financial. You've been notified and the INTERNATIONAL RECOVER COMPANY ® team wishes you a happy birthday!