ARE YOU FINANCIALLY DEPENDENT?
TAKE THE QUIZ
It's important to understand your level of financial dependency, so that you can take the actions needed to help you move towards financial independence and freedom.
In this quiz, you'll be asked a series of questions and based on your results will be given your level of financial dependency. You'll then have access to information and action steps you can take to move towards financial freedom.
What is Financial Dependency?
Financial dependency is when someone is dependent on a person, job or
situation for money.
Dependent by Choice
Some people become dependent by handing over
their power and participation in making decisions about their money
- In Relationships - where one partner doesn't want to be involved. This can be a personal or business relationship. They hand over their power and responsibility to a spouse, partner or professional - bookkeeper, accountant, lawyer. This also happens with celebrities and professional athletes.
- Adult children that live with their parents - they either move home or don't leave home because they don't want to go out on their own and have no money management skills or financial responsibilities
- Elderly parents that move in with their children or relatives. They may feel that they are getting older and want to be closer to loved ones. They sometimes let someone else manage their money and bank accounts, or they sign over power of attorney or put their money and asset's in someone else's name in case something happens to them.
Dependent without choice
In these situations the person feels trapped because of their financial situation
- In a job or career that they are unhappy with or are being harassed but they can't leave because of their financial situation - whether it's due to credit car, college debt, medical bills, or expenses from taking care of their family or elderly parents
- Adult children that move home with their parents because they've had an illness or have gone through a tragedy - divorce, loss of home due to weather related events or loss of a job.
- Elderly parents - that may be incapacitated or can't take care of themselves either physically or emotionally and they have to move in with relatives.
- Financial Abuse- when someone is in a relationship and the other person has power over them because they don't have access to money, information or a way out.