I know that things and times have changed as it pertains to the way you guys deal with life issues and problems. As millennials, you have found innovative ways to communicate through social media, navigate information and carry on major conversation through the awesome power of technology. I truly applaud you for taking advantage of how technology makes all of our lives convenient but some areas of life are based on principles and maturity. No amount of technology is going to exempt you of going through the maturation process of earning your economic independence from your parents home. As much as your parents love you and genuinely want to help you….secretly they want you to be fully functional independent adult not dependent on them to provide things like food, clothes, shelter and other basic necessities for you. Some of you may have been raised in households that instilled your independence already. If you fit that description, then you have some of the tools to start working towards your financial independence. If you have no idea I am talking about or can’t relate in any way, then I wrote this piece especially for you.
6 Things you MUST DO to get and keep your economic independence soon after high school graduation. Let’s get started with the first thing….
1. Create a career and economic plan of action for the next 10-15 years of your life with deadlines. Sometimes, we make something very simple become very complicated, all because we are unwilling to take action. Creating a plan for your economic life and independence is simple as you getting a notebook with a pen and paper to start writing. The career and economic plan may start off something like this…
a. What do I want to do with my life after high school in terms of dreams and aspirations? Write it
b. What type of job or business do I want to start now? Write it down. If you are struggling with this
part of the plan, you can check out the FREE DREAM Career Guide to help you figure out the ideal job,
career path or business specifically tailored to you.
c. Depending on what job, career path or business you decide on, what tools, certifications, equipment,
specific education or overall resources will you need to get started? Write it down
d. Depending on the length of time your career or business aspirations take, what will you do to earn
money to take care of your basic needs in the meantime? Write it down
If you are looking for in-depth industry specific career and business aspirations tailored to you,
then check out our resource to get your tailor-made career and/or business guidance specific to YOU.
e. Based on personal preferences, what type of house, apartment or tiny house do you want to live in? Do
you want to rent, own, sublease? How much per month will it cost you to live there? Will the job,
career or business be able help you pay the monthly living expenses? Are you familiar with what a
budget is? Just in case you don’t know, the definition of a budget is a plan you write down to decide
how you will spend your money each month. A budget helps you make sure you will have enough money
every month. Without a budget, you might run out of money before your next paycheck. It also shows you
how much money you make and how much money you spend. Click here to view an example of a budget to start your responsible financial journey.
To some of you, this laundry list of things may sound like a lot to do, but imagine going through your adult life aimlessly without a plan. Unfortunately, I had to learn the hard way by having LIFE knock me down a few times for me to understand why this wise person once quoted, “if you fail to plan, you plan to fail”. You would not believe how truthful quote describes our lives. I also do not want you to miss my emphasis on WRITING THESE THINGS DOWN. The first step to taking the necessary action, it to document it, then take action.
In the next portion of our 6-Part Series, we will talk about learning about how your personal credit works NOW before your credit ends up trapping you financially. I want you new or soon to be graduates to walk around the hot burning fire hoops I had to experience in my first few years after graduating from high school. It’s always better to learn from other people’s mistakes than enduring them yourself. As always, if you have questions or concerns, please reach out to me at firstname.lastname@example.org or click on the gray “Send Voicemail” tab on the right side of the screen to leave me a voicemail message and I will return the call within 24-48 hours.
Graduates, I want to welcome you to the DREAM Career Community by inviting you to join our monthly newsletter, where we explore topics helping you to enhance your DREAM CAREER! You can do so by grabbing your FREE DREAM Career Newsletter