1. Money
Miriam Caldwell

Are You Financially Independent?

By January 11, 2008

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One of the most important things you can do to ensure your financial success is to establish financial independence from your parents. It is not uncommon for people to move back in with their parents after college or to accept help to pay their expenses. While these may seem like good short term solutions, you may be limiting yourself in the future.

If you do need to move home for a short time or if you need help with an emergency expense, you should only accept help if you have a specific plan in mind. Set a date to move back out of your parent's home, and get on a budget. Use the time at home to get ahead financially. Don't just squander your paycheck. You should be able to save a significant amount of what you make. Additionally you can pay off debt quickly.

There is satisfaction and pride that comes with making ends meet and living independently. It is important that you take the steps now, that will help you to be financially independent through out your life. The biggest step is to live on less than you make. You should save the rest so you can continue to be independent when you retire.

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