Most of us never took a class in high school or college on how to manage money. So, when do we expect young people to learn how to manage their finances and stick to a budget? It seems to be a trial-and-error process, emphasis on the error. A recent study of young adults ages 18 to 34 reports this age group has the second highest bankruptcy rate in the United States [source: Dunleavey]. Despite having sufficient salaries, many young people's lack of knowledge on money management and investing has forced them into debts that could have easily been prevented.