Step 7: Create a Long-Term Plan for Financial Independence from Your Parents

Because, let's face it, they're not getting any younger

In this step, you will craft a comprehensive plan for your financial liberation from your parents' grasp. This will involve:

• Identifying your financial goals and aspirations (e.g., "I want to own a house with a pool, but without the crippling mortgage")
• Calculating your current financial situation (e.g., "I'm 25 years old, and I still live in a studio apartment because, well, it's not like I'm paying rent")
• Researching investment strategies and tax loopholes (e.g., "I've heard something about a 'Roth IRA'? Sounds like a mythic creature from ancient Greece")
• Setting up a budget that doesn't involve living off your parents' generosity
• Creating an emergency fund for when your car breaks down, and you need to call a tow truck at 3 AM
• Developing a plan for long-term care, because, let's face it, your parents won't be around forever (but let's be real, they'll probably still be paying off their own student loans)