I am financially responsible and am in the process of moving out, I'm 17, I live in TEXAS. know I can legally move out at 17, and I know that you have to be 18 to sign for an apartment. I plan on an moving in with a friend who is 18 years.
Im looking to separate financially from parents. Currently I share a joint bank account with parent, the bank won't let me open an account until I am 18. Is this the case with every bank or will some allow you to open your own at 17? How old do you have to be to open a phone plan (at&t, verizon, sprint, etc)? Whats the minimum age to make a down payment for a car? Minimum age for car insurance? What are steps I could take to getting off my family's health plan and starting my own? Are there any other ways I can become financially independent?
Financially you can't do anything until you are 18. That is the legal age to sign contracts. You might be shocked to find out what the cost of insurance, phone plan, buying a car and other items. Car insurance will be ridiculous. A phone plan will probably require a large deposit and there is much more. You might want to check these things out before moving so young.
You cannot sign contracts until 18 - this includes a phone plan, a car, car insurance, health plan. They make these laws to protect those not yet 18 from being taken advantage of by adults smarter than they are. It is unlawfull to allow you to sign a contract for a phone and then not honor it. Therefore they prevent the phone company from signing a contract with you. You are skirting the apartment issue but I'm not so sure the LL will accept you when he finds out you are 17. You are going to find it hard on your own until you are 18.
The other answerers are correct. Do not get off that insurance policy now since you cannot get a new one until you are 18. You could move in with your 18 year old friend but that is about all you can do. You could buy a car for cash from a private party. I know times seems slow but you will be 18 before you know it.
I also agree with the other answers.
Why add my two cents?
Because there may be something you should know. You are correct that in Texas the police can not force a 17 year old back home if the move out without parental consent.
But anyone you move in with can be charged with harboring a runaway (other than certain family members).
http://www.statutes.legis.state.tx.us/do...
So if you move out without parental consent, the 18 year old you move in with could face prosecution. There is no way to know if they will. It will be up to the County Attorney (since it is a misdemeanor).
Yes you need a parent to sign for a bank account until you are 18, you need to be 18 to legally sign contracts ( phone, internet, etc.).
