Young adults often find themselves burdened with significant debt and very little savings.  Start saving with your first paycheck.  Money which is automatically earmarked for savings can’t be spent on a whim, helping to create more stability should you encounter tough financial times.

• Stick to your budget.
• Commit to saving money regularly and build up enough saved money to get you through an emergency situation.
• Establish a direct deposit into your savings account.

• If you sign a contract, it is binding. If you break the contract, you can be sued. Your signature on a contract creates a presumption that you have read and understood the contract -- even if you haven't.
• Protect yourself by getting a written agreement. The terms agreed on must be in the contract.
• Not all contracts have the word "Contract" typed across the top. Receipts, sales slips, tickets, guarantees -- even parking valet stubs -- can all serve as contracts.
• When you're making a major purchase, insist on seeing the contract well in advance of signing it. Take a copy home overnight so you have plenty of time to read and understand it.
• Don’t let the salesperson pressure you into signing.
• Don't rely on the salesperson's summary of what the contract means. Read the entire contract and make sure you understand it. If you have trouble with the language, get someone to read it with you.
• Study the content to make sure the terms you and the seller agreed upon are included. Negotiate for terms that you are comfortable with.
• Never sign a contract that contains blanks. Be aware that some contracts eliminate the right to sue. Often, contracts require binding arbitration.
• If you want a clause added or deleted from a contract, write it in or ask for a manager. If the business refuses, consider taking your business elsewhere.
• Read credit applications before you sign. Don’t sign if the information is not true.
• Make your signature big when you sign a contract. Sign your name large enough so that it overlaps the lines above it, so it's hard for the company to cut and paste.
• Never leave the business without a signed copy of your contract in hand.

• Have your parents include you as an authorized user or joint credit card account holder to begin building a positive credit history. Help your parents review the monthly statements and make payments to educate yourself about the process.
• Learn about the entire credit process, from making a charge to paying a bill, to help you manage credit well later in life.
• Understand that making every payment on time is the key to using credit to work for you; carrying a balance causes you to fall further and further into debt. Paying the full balance monthly will also help your credit score.
• Be selective. Only apply for credit accounts that offer the incentives you want and need. Make sure the incentives you receive are enough to justify the annual fee.
• Pay your bills on time. One of the most important steps in building and maintaining a solid credit history is to pay all of your bills on time each month. If you pay late, it may damage your credit history and lower your credit score.  You may want to consider setting your bills to be paid through automatic electronic bill pay, reducing the likelihood of payments being late.
• Be aware of your credit cards’ credit limit, and avoid using over 30 percent of your total credit limit.  
• Only apply for credit you need.  It is not wise to have more credit cards than you are able to pay in full each month.
• Don’t apply for multiple lines of credit within a short period of time.  This can lower your credit score.
• Avoid withdrawing cash from your credit card.  Due to the typically inflated rates on cash advances, only use this option in case of an emergency.
• Check your credit reports.  Each of the three major credit bureaus offer a free credit report every 12 months.  Request your credit report on an alternating basis every four months. (i.e. Experian in January, TransUnion in May, Equifax in October).   See the Identity Theft page for credit bureau contact information

• Paying for school can be a significant financial burden. Carefully consider tuition and other costs of attendance when choosing a school.
• Limit the amount of money you are borrowing even if you are approved for a larger loan. 
• Have a clear repayment plan, and make sure you are able to make the monthly payments.
• If you need help deciding how much to borrow, consider speaking with a financial aid counselor at your school and using a college budget calculator.

• The landlord tells you to wire money. There’s never a good reason to wire money to pay a security deposit, application fee, first month’s rent, or vacation rental fee, even if you receive a contract first. Wiring money is the same as sending cash. Once you send it, it is nearly impossible to get it back.
• The landlord wants payment before you’ve met or signed a lease. Do not send payment to the landlord without seeing the property. If you can’t visit an apartment or house yourself, ask someone you trust to go and confirm that it’s for rent, and that it is what was advertised. In addition to setting up a meeting, do a search on the owner and listing. If you find the same ad listed under a different name, that’s a clue it may be a scam.
• The landlord claims they’re out of the country. Don’t send money to anyone overseas, even if they claim an “agent” will get you the keys. If you can’t meet in person, see the apartment, or sign a lease before you pay, keep looking. If the rental itself is overseas, paying with a credit card or through a reputable vacation rental website with its own payment system are your safest bets.

• Requiring up-front fees for help. It is illegal to require a fee up-front for this service and any company which demands your credit card number or bank account information before taking any action is likely fraudulent.
• Promising total and immediate loan forgiveness or cancellation. This is not possible under Federal law. Government forgiveness programs are complicated and often require years of qualifying payments or employment in a certain job; they are not “immediate” or “easy”. No companies are able to negotiate for a “special forgiveness program” in the Federal student loan programs.
• Asking for your FSA ID username, password, or third-party authorization power. Neither the U.S. Department of Education nor any of its vendors will ask for your login information or for third-party authorization. This ID has the same legal status as your written signature; do not give it to anyone or they will be able to make changes to your account without your permission.
• Claiming their offer is “limited”. There are deadlines for some student loan programs, but these are offered through certified vendors who will not push you to speed up your decision due to the “discontinuation” of a program.
• Errors in communications. Many scammers will send out formal-looking communication, but the documents themselves will contain spelling or grammatical errors. Any sort of major errors in communication you receive is an indication the company is not affiliated with the Department of Education.

*source: studentaid.gov/resources

• Immediate payments: Companies or programs that require a payment up front but don’t offer anything immediately in return are likely a scam. Even if the company offers a “money back guarantee”, there are almost always details in the fine print that make it impossible to get your money back. Immediate payments without any immediate returns are a red flag.
• Guaranteed Winning Contests: Any business claiming that if you pay them, you are “guaranteed” to receive a scholarship is likely a scam. If you did not enter a contest but receive notice that you’re a “finalist”, it’s likely a scam. A simple rule of thumb to use with “winning contests” is that if it’s too good to be true, it probably is.
• Processing Fees: Scammers may charge a processing fee to “handle the paperwork” to apply for financial aid eligibility. However, the only application used to determine financial aid eligibility is the Free Application for Federal Student Aid (FAFSA), which is easily filled out for free.
• Legitimate Enterprises: Some legitimate companies charge students money to compare their resumes with existing scholarships or give out opportunities. However, the offer becomes a scam when the company guarantees that for a fee, individuals will receive a scholarship.

*source: consumer.ftc.gov/articles/0082-scholarship-and-financial-aid-scams