Daily Archives: April 21, 2012

What’s the right time to leave the nest?

The question of home ownership is important, but there is also the question of personal space and the need some times to rent before you buy. Young adults particularly will be motivated to move out of the family home for reasons of personal space and privacy, and the independence that comes with deciding what color you really want your living room to be painted in.

For some families tho, this can be less of an organic development and has to be nurtured into existence. What do I mean? Well, simply put, sometimes parents may have to decide when its time to push their loved ones from the nest to start their own journey. Now this is different from family to family, as it is from culture to culture. In North America, the legacy of the Draft and Military service has embedded the idea that, at 18 a kid becomes an adult and therefore, should get their own place. Studies, Personal financial development and more are all tied to young persons starting off on their own at the earliest point and this plays a large part of the decision making process in that culture.

In Trinidad however, we are a bit different in the approach. Our young adults are less pressured upon by parents and “the system” and more so by social pressures. Its cool to wake up just in time for a Sunday lunch after sleeping of Satruday nights party that ended at 3am, but less cool to not have the privacy needed to invite friends or that special person over for a dinner date or movie night.

So, we do have a bit of a different dynamic to deal with, but then again, kinda the same……..

Getting into the idea of renting your own place maybe a great social step, but it also helps the financial and independent steps as well. Your money management becomes more mature when you have to consider buying groceries over snacks, and allotting rent in your budget, as opposed to living at home and maybe contributing to the house with a cartoon of milk in the fridge.

As soon as your employed in T&T and have a steady income of more than three to six months, your in good shape to apply for a credit card, and soon after, your going to be wanting your first car, all necessary tools in saddling the social benefits of having your own space, but also necessary in building your credit line and money management skills.

Ultimately, when you get to the point of being too old for “the talk” after bringing your significant other home for “the after-party at your place” ┬ámaybe its time to consider moving out on your own, that can be at 18 or 30, just remember to do it with the right reasons in mind, or you might end up back home, wondering where did all the good times go?