One of the first things you can do is list your monthly income, from a job for example. Then, add up all your expenses, which can include student loan payments, car payments, housing payments, food, clothing, and entertainment. Then, subtract your expenses from your income. If you have a positive number, that is good and you'll be able to save money every month. If you come up with a negative number, look through your monthly expenses and try to see where you can reduce them so you'll get out of that negative number. If you do have a negative number, that means you will actually be spending more than you take in, which over time, adds up to a lot of debt and could end up being a financial disaster in the future.
Money Smart Kid