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This framework maps the stages of financial progression—from full dependence to financial abundance. It's designed to give you a clear sense of where you stand and what your next step should be.Each milestone includes a description of your current financial state, the key hurdle you're facing, and the action you can take to move forward.
Definition: Support from others = Income
Current State: You rely on parents, guardians, or others to meet your financial needs.
Next Step: Begin learning how to earn and manage your own income. This is your first step toward autonomy.
Definition: Income > Debt + Discretionary Expenses
Current State: Your income covers your basic lifestyle, but just barely. You're likely living paycheck-to-paycheck.
Next Step: Reduce spending, increase income, and make sure you're current on all bills. Stability begins here.
Definition: Income covers expenses + Emergency Fund
Current State: You're earning enough to meet your needs, but you have no financial buffer. One unexpected event could derail everything.
Next Step: Start building an emergency fund—aim for 3–6 months of expenses to create breathing room.
Definition: Bad Debt is Eliminated
Current State: You may have toxic or high-interest debt holding you back.
Next Step: Focus on aggressively paying down bad debt to free up your income and reduce financial stress.
Definition: Investment Income = Essential Expenses
Current State: You're still relying on your job to meet basic needs.
Next Step: Begin investing so your money can generate enough income to cover essentials like food, housing, and utilities.
Definition: Investment Income = Total Living Expenses
Current State: You still work to fund your lifestyle.
Next Step: Grow your investments to the point where they cover both needs and wants. This is financial independence.
Definition: Investment Income > Living Expenses
Current State: You may be financially independent, but not yet in a position to give freely or build legacy wealth.
Next Step: Continue growing your assets to create surplus—so you can support others, give back, and live with freedom.
Tip: You don’t have to move through these milestones in perfect order. Life is messy. But understanding where you are helps you take control of what’s next.