Introducing the Phases of Independence
Failed to add items
Add to basket failed.
Add to Wish List failed.
Remove from Wish List failed.
Follow podcast failed
Unfollow podcast failed
Introducing the Phases of Independence
-
Narrated by:
-
By:
About this listen
Workshopping the Phases of Independence, a roadmap to help give language to young people on their journey to complete independence from their parents.
Phase 1: You do not have a job and are completely dependent. You can use this time to begin educating youself on personal finance and forming your plans.
Phase 2: You have a job or side hustle (earned income) and can begin using a budget and plan for your money. You give a percentage and pay for at least one of your bills.
Phase 3: Same as phase 2, except you are now responsible for an entire area of bills, or use your own money for day to day needs like gas, groceries, and entertainment.
Phase 4: You are earning enough income that you could be living on your own or with roommates without assistance, covering 100% of your expenses, but by mutual agreement you are still accepting help while you save for Launch Goals.
Phase 5: You are living completely independently from your family, actually covering 100% of your expenses and have moved out of your parent's home.