1. A savings account
Everyone's got an opinion on how much you should have. Some say 3 months worth of income. Dave Ramsey says $1,000 until you have other debts paid off. It doesn't matter what you have, just have something. It's bad enough to get into an accident, it's even worse if you have to figure out how you're going to pay for the deductible. It's nice having the peace of mind.
2. Rental car coverage on your insurance
Is your car the only means of transportation you have to get where you need to go? If you live out in the country like I do, the answer is yes. I can't rely on public transportation to get me to and from work. If this the case for you too, then there is no reason why you should not have the rental car coverage on your policy. I pay maybe $10 a year for it on my insurance and that got me $30 a day for a rental. If I didn't have the coverage on my policy I would be scrambling to find a way to and from school and work while my car is in the shop.
3. A 401k
Knowing I have money for retirement is great, but there's more to it than that. I'm going to say something that goes against popular opinion. I have used my 401k for closing costs on my house and to pay for tuition one semester. Do I think it should be used as a first case scenario? Absolutely not, but I also think that if you're young you should use it if you need it.
4. A go to meal you can make
Everybody needs one recipe they can make, whether its a dip for a party, or a dinner for two. You need to know how to make something and contribute.
5. A solid group of friends
Do I really have to explain myself here?
What are some other things you think all adults must have?