A person who applies for too many credit cards
A person who pays their minimum balance every month
A person who pays off their total credit card balance on time every month
Making late payments
Closing a credit account with a low balance and high limit
Making only the minimum monthly payment
A savings account through the government that is not taxed and grows above the inflation rate.
A type of retirement account that you only pay income tax on when you make withdrawals.
A retirement account through your employer. Contributions are made before tax is taken out of your paycheck and most companies match up to a certain amount of your contributions.
Bad spending habits
They should track their income, and track their spending.
Call an insurance provider about setting up Life Insurance.
Have an independent checking and savings account at a bank.
Apply for a credit card - start building credit. (Make sure they know the rules of success).
Be educated. Learn that know one will care about money management better than you will. Take responsibility for yourself.
Don't take money out of your paycheck for a retirement plan you can't touch until you're 65.
Begin contributing the maximum amount out of your paycheck. You'll be getting free money from your company towards retirement. It's the easiest way for you to start saving.
Contribute 5% from your paycheck, you need more cash.