America's Social Security system is in flux, and many younger people are concerned about what will be there for them when they reach retirement age. The situation reiterates how important it is for younger people to keep tabs on their finances and save money whenever possible.
Americans tend to spend more and save less than residents of other countries, partly because of cultural norms and partly because they believe they have programs like company pensions and Social Security to fall back on. However, with the current Social Security confusion and retirement funds being put at risk by people changing jobs so much, it's important to realize when you don't need to go for the designer clothing or new car. This applies to college students who have not yet entered the "real world" of work.
It may not be the best idea to party three times a week and put yourself in a position of constantly being short on cash. At the risk of sounding like our parents, college students are really going to need every dollar they can save once they graduate.
