How to Be Independent by Age 18

When you turn 18 you are a legal adult and your parents do not have to support you anymore which means, they can stop providing you meals, clothing, and shelter if they choose to. If your parents cut you off at the age of 18 where would that leave you? Would it leave you on the streets, in the shelter, or shacked up with a friend? None of these situations are favorable and you can prevent situations like these by preparing for your adult future at an early age. Here's how to prepare yourself for an independent future.

Start working in your early teens- If you are reading this article on Associated Content, then you are most likely old enough to start working. Depending on your age, some states may require you to obtain a working permit to work. If this is the case find the proper steps needed to obtain one. Your high school guidance counselor might be able to assist you with this.

Open up a savings account (with a trusted adult) - Start by placing $10 to $20 a week into your account. These small amounts will add up over the course of the time. If you start putting $20 in your account every week at the age of 15 then by the age of 21 you will have saved $5,760! Now imagine if you put in $25 or $30 a week. You will have a nice chunk of change saved up by the time you are 21. The key to making this work is to be highly disciplined. You need not give into those temptations of spending your hard earned money. Once you put money into the account think of it as off limits. You can even get a hold placed on your account so that you will not be able to take the money out of the account until a certain age.

If you are under a certain age you might need a co-signer to open up a savings account. Generally, the co-signer can not take out money from your account unless you agree to give them permission to. Ideally, you should be the only one to have access to your money. So you should open up an account with an adult who agrees not to have access to your money.

Keep your account a secret- Besides your co-signer, no one really has to know how much money you have in your account or that you have an account opened. If you start telling friends or siblings that you have a lot of money in your account they might start begging you for some, or asking you if they can borrow some. If you are gullible and extremely kind chances are you will break down and withdraw your hard earned money. Don't make this mistake. Think of your future.

Get a learner's permit and take driver's ed- a learner's permit will enable you to drive a vehicle during certain hours. Driver's education will teach you everything that you need to know about driving including information about car and rode safety, and signs. You will also get behind the wheel experience with an instructor to practice driving on the road. At the completion of Driver's Ed you will be able to take the road test and if you pass the road test you will be granted your license. Learning to drive is very valuable for your future because you might obtain a job that requires a Driver's License. A Driver's License is also a major form of identification.

Getting a learner's permit does not cost much money however; driving school can get pretty expensive ranging from $500-1,000. If the price of driving school interferes with your savings plan see if your high school offers Driver's education or if a friend or relative can teach you to drive. Once you feel comfortable enough with driving you can schedule an appointment to take the road test which also costs a fee in the $80-$100 range.

You do not have to go to Driving school to learn how to drive. You can learn how to drive from an experienced driver and by reading the Driver's Manual to learn the road signs and driving rules. If you go to Driving school you will get a discount on your car insurance which will save you a great deal of money.

Apply for one credit card- You might not need a credit card but you need to establish good credit. If you want to take out a loan, banks will look at your credit score and if you want to rent an apartment landlords might also look at your credit score. If your credit score is below a certain number (usually 600) you might have a difficult time taking out a loan or renting an apartment. Even if you might have never owned a credit card it still might be difficult to obtain a loan as you have no visible track record of your credit. Banks will not be able to tell if you will be trustworthy with making payments, they need some form of credit score to look at. Apply for one credit card and make sure to pay more than the minimum monthly payment to pay off your balance. Pay off your balance over the course of months as opposed to just paying it all off at one time, doing this will show creditors and potential loaners that you are responsible and trustworthy.

Don't live on credit cards- Credit cards are not free money. I repeat credit cards are not free money. You must pay back whatever you spend. If you can not afford to purchase an item then do not charge it. You have to live by your means and not outside of them. If you can not afford something then leave it there.

Open a checking account- At around age 18 you should open up a checking account so that you can pay any bills. You will also get a debit card from your bank which will allow you to withdraw money from an atm and pay bills from your account online and over the phone.

Secure a permanent job or enter college- By age 18-20 you should try to get a permanent job or work temporary/part time or fulltime and go to college.

When you turn 18 or 21 you can decide what you need to do with your savings. Many teens and young adults decide to use the savings to buy a car or rent their first apartment. Staying independent from age 21 and up requires that you have some form of income coming in and that you live within your means.