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.
The worst thing is that this forms their habits from a young age. They do not learn to save more, they learn to get what they want right now. Even if they do not have enough money for it, they are ready to take loans and buy whatever they desire. After they get a new toy, it quickly stops being interesting, but the debts they took to get it stay with them for many years. Then they buy something else, and then something else again. This way, they turn into perfect consumers, but at the same time, they do not know how to build capital to achieve financial independence in the future. This is a very bad situation, and it happens because young people lack financial education. It is something that should be taught from a very young age.
Even though habits of saving money are important it is also important what is done with those savings. If one saves in fiat currency, those savings are worth less and less every year because of inflation that devalues the money. In my opinion it is important to invest in things that gain value over time, like bitcoin or gold, and keep fiat currency savings enough to cover unexpected needs. The balance between types of savings is the key.