Final answer:
An individual under 18 who is financially independent and without parental support is termed an 'emancipated minor.' This legal status is granted by a court, allowing the minor to take on adult responsibilities. Conditions for emancipation can vary, and the age at which one is considered an adult can differ culturally and sociologically.
Step-by-step explanation:
The term that describes an individual younger than 18 who is financially responsible for bills and free of parental care is "emancipated minor." This is a legal status where a child has received approval from a court to manage their own affairs before they have reached the age of majority.
Legally, most aspects of adulthood commence at the age of 18 in the United States, which signify one is responsible for oneself financially and legally. For example, at this age, one can serve in the military but cannot purchase alcohol. Emancipation is an exception that allows minors to assume adult responsibilities earlier, which can occur due to various situations such as parental inability to provide care, or if the minor is self-supporting and living independently.
The concept of adulthood and when an individual is considered to reach this phase varies greatly. Sociologically, becoming an adult might involve becoming self-supporting, starting a family, or choosing a career. The actual age for these milestones can be influenced by cultural norms and personal circumstances. Meanwhile, delayed transitions into traditional adult roles can be observed, exemplified by the Boomerang Generation, where young people return to their parental home after college due to economic challenges or lack of employment opportunities.