By all accounts, college graduates are leaving school and entering the real world lacking a sufficient amount knowledge in how to handle their finances. The good news? You haven't screwed up yet. And if you follow a few broad, yet basic guidelines, things might just stay that way.
After a recent report from Finra's Investor Education Foundation revealed a few worrying statistics about personal finances in the U.S. (19% of Americans spend more than they earn), Fox Business reporter Emily Driscoll consulted experts to inquire, generally, about one thing: What can young people do to better manage their money?
The first bit of advice given to young spenders is to create a budget that catalogs prospective savings and costs.
It may sound like common sense, but it is nonetheless an important tool to help people avoid the type of spending that those in debt come to regret. And so is the use of a savings account, as well as a consistent system to abide by while putting money away.
Of course, if you don't feel motivated enough to use these simple methods -- which could, lest we forget, save you much trouble in the future -- you could just ask your indebted elders about the type of things they did to land themselves in financial misery.