18M here.
I plan to attend college this autumn (I am still a senior), but currently (and unfortunately), I am unemployed (never had a job before) and still live with my parents. In addition, I have no understanding of how money works. Or really how to "be an adult." To put it simply, I'm in a really pathetic position.
This subreddit suggests that 18-year-olds open a bank account in their own name. This is something that has been on the back of my mind for a while, not only because of the advantages, but also because I dislike/don't get along with my parents (for other reasons). I'd like to become less financially reliant on them.
There is one stumbling block, and that is my lack of understanding of how money works.
I know there's a section on the wiki dedicated to guidance for high students and young adults, but when it comes to a bank account, there's all this stuff tied to it, such as budgeting, saving, and credit (and credit history), all of which I'm completely ignorant about.
Considering the importance of finances, I'm afraid I'll make the wrong decision without knowing. Opening a bank account feels like an overwhelming decision to make, but I would really like to do it.
Any advice?
Submitted May 31, 2021 at 02:26AM by Sonic-Oj https://ift.tt/3c1GJtS
