Cutting the Cord

Working Girl posted a great blog today. She read this article and blogged about her own financial independence. HB and I often talk about our financial independence and how rare it is in our group of friends. We work very hard to maintain our financial independence and it makes us very proud. We can’t imagine having it any other way. Some people in our lives weren’t pleased with our achieving and maintaining this independence.

Working Girl and the Newsweek article both discuss this generation’s need to remain on their parent’s payroll. While this is true and I have many friends who wouldn’t dream of giving up Daddy’s credit card, I have also seen Parents who don’t encourage their child to be financially independent – in comes financial freedom, out goes control. These parents don’t mind footing the bill for expensive vehicles, nice vacations, high rent and designer clothes when it means they can control where their 25 year old drives, vacations, lives and what they wear. Just as the child is afraid to grow up, the parent is afraid of allowing the child to grow up. This was not the case for me.

When I graduated from college I dove into financial independence head first. Sure, my parents helped me with my security deposits and I held on to their gas card as a “just in case”, but I paid them back every penny I borrowed in six months time. When HB and I got engaged I wrapped up my Dad’s gas card and gave it to him as a gift. They haven’t given us a cent since. Of course, we know we can always go to them if we need something and that is comforting. HB dove into financial independence after college as well. He bought a house, updated and furnished it on his own. His Dad was very encouraging but his Mom Not. So. Much. She is one of those parents who does not like to give up control. She doesn’t want to pay for everything, just a few things to keep you tied to her so the minute you disagree with her she can throw it in your face. She hasn’t taken to our financial independence.

As I type this I am thinking of all of our friends and how only a handful of them are financially independent of their parents. Of our close friends, the ones we talk to almost daily, only 2 of them enjoy financial freedom. The others live beyond their means buying extravagant houses, driving luxury vehicles, wearing designer clothes and traveling to exotic places all on their parent’s dime. It’s sad that they don’t have the confidence to believe they can enjoy their life on their own. It’s sad that their parents won’t let them enjoy their life on their own. For them I hope that one day they will be able to feel the joy that comes along with financial freedom.