Emancipation is understood as the freedom of “parental authority”. In other words, becoming emancipated means saying goodbye to the family home and stopping living and not financially dependent on our legal guardians.
Emancipation is the process by which a young person leaves the guardianship or dependence of their father and mother and acquires full independence to work and live on their own.
Requirements to become emancipated.
Legally, from the age of 16 it is possible to obtain it as long as it is requested in writing and with prior approval from the parents. For this, the minor must make a public document before a Notary.
An important aspect that we must bear in mind is that once granted it cannot be revoked.
This dismissal from the family home by a minor, between 16 and 17 years old, can also be achieved for other reasons:
- Judicial concession.
- Marriage of the minor.
- Cases of mistreatment or abuse.
Tricks to become emancipated and not depend on your parents
The main difficulties in leaving the family home are usually financial. Although it is true that in our country there is a culture of family roots that is greater than other countries, we cannot forget that the lack of stable work is the main reason why many young people stay with their parents.
To do this, before leaving home, you must be very clear about where you are. And it is that once you leave the family nest you stop depending on your parents to pay your bills.
Get a job
In other words, you will be responsible for paying the rent and covering all your expenses (clothes, internet, electricity, etc.) in full. You will need a job and a source of income that you can live on comfortably.
Even if you are entitled to some type of financial aid, the money you receive may not be enough.
One option is to look for a well-paying job that allows you to live comfortably. Another possibility is to take the opportunity to train while you are at your parents’ house. You can also study to pass a competitive examination and get a stable job.
In any case, make a budget and calculate to live with the salary you receive!
Managing money is key
It is clear that having financial resources helps a lot, but if you plan your expenses well, you will have a lot of work in advance. And it is that one of the first lessons of the family economy is to spend the basics and essentials, just like our grandmothers did.
Knowing how to manage your money consists of covering all your food and rent expenses without giving up saving. Even if you are 18 or 20 years old, it is never too late to start an emergency fund.
In fact, most experts recommend having a savings fund of 3 to 6 months to cover expenses either in cash or in liquid funds.
Therefore, before leaving your parents’ house, save some money and do not be in a hurry to leave home. Everyone is in a hurry to have their own apartment or room, but the time you stay with your family will allow you an inexpensive mattress to live better later.
Buy or rent?
Unless you have a stable job, it is not advisable to rent . One of the reasons is that you need to have a guarantee, a permanent job or your parents, and finance 80% of the mortgage.
On the other hand, renting allows you more effective control of your money and you can always change places or neighborhoods to pay less. Also, you don’t have to rent a whole house at the beginning, you can always share a flat and rent a room.
Credit line
Financial independence goes through having a bank account, and we also recommend applying for a credit card for emergencies.
If you have debts, focus on paying them off little by little while you are at your parents’ house. Don’t even think about emancipating yourself until you cover them!
If you follow these tips, plan your budget well and control your expenses, you will be closer to achieving the financial freedom necessary to emancipate yourself.
