How financially literate should 18 year olds be?

<p>I think that the best habits a young person can develop are budgeting and saving regularly. Learning to navigate the maze of financial aid is a gruesome odyssey, but will not help much beyond your college years (at least not until your own offspring are ready to launch). But if you can learn to live within your means and plan for your financial future, you’ll be miles ahead of the general population.</p>