ermurrowhs.libguides.com/financialliteracy
As a young adult, one of the keys to your success will be learning to manage your personal finances. To be financially capable, you will need to understand topics related to finance, such as making money, spending money and saving money. Your "financial fitness" begins with identifying the values and goals that are most important to you and then figuring out how to use your resources to achieve it. (Campbell, Foundations of Financial Literacy)
Financial Literacy: having a body of financial knowledge plus a set of basic skills, and the ability to apply that knowledge and those skills to making informed, responsible financial choices. Key aspects of financial literacy are budgeting, saving and managing debt.
Setting financial goals is an important step in creating financial independence. The 50-20-30 rule is a good formula for helping you manage NEEDS, WANTS and SAVINGS. 50% of your after-tax income should go to your needs and obligations; 20% should go to your savings; and 30% can be spent on your wants. But first, set your financial goals, then:
Also includes a short video.