Cutting Yourself Off

How to cut the apron strings

So, we’ve talked about the dangers of not becoming financially independent, but how do you go about doing that?

Develop a post-graduation schedule that outlines when you will become financially independent. It could take several months to get to this stage—which is fine. It’s important to know when you’ll start taking over your expenses so every party involved understands your plans for being on your own.

If you are living at home after graduation to save money and/or holding yourself steady while you try and find a job, express a desire to take care of some of the household bills or volunteer to pay some of the household expenses.

Your parents will appreciate it and, down the road, you will too.

If you’re nervous about becoming financially independent, that’s what IU MoneySmarts is here for: to help you build the tools you need to become a financial master and navigate the financial world on your own.

Feel free to schedule an appointment with a member of the IU MoneySmarts Team to help you make a plan for your future.