It is very important for a person to manage his finances properly. Because if a person cannot manage his finances properly, he can get into debt. For example, he has to keep an eye on how much money he has to spend when and how much money he has, how much money he is spending per month, etc. If his expenses are high, then he has to reduce his expenses. If he does not reduce his expenses and continues in the same way, then he will get into debt. Therefore, it is very important for a person to have proper financial management.
Managing finances is indeed something that must be done, especially when we already have an income. Having an income doesn't mean we can spend it carelessly; we should consider it carefully before spending. Most young people today, even when they have jobs and income, only save a small amount. Most spend it on things they want, even if they seem insignificant. This happens because today's lifestyle standards are high and they can't put aside their egos.
In my community, quite a lot of young people are in debt from online loans. From what I've observed, this is because they want to fulfill their high lifestyle, such as buying an expensive cell phone. Even though they don't have enough money, they force it, and one way is by taking out an online loan.