To rehabilitate your credit report, you can have out-of-date and erroneous information removed from it. Then focus on getting positive information into your record. And don't fall for the numerous credit repair operations that prey on your anxiety -- you can easily handle credit repair tasks on your own.

Retirement Planning

If you haven't already started planning or saving for retirement, there's no time like now to start. Popular retirement plans such as 401(k) plans allow you to put aside money for retirement, while at the same time reducing your current tax bill. If your employer offers a 401(k) or other retirement plan, it makes sense to contribute as much as you can afford into the plan -- particularly if you are fortunate enough to have an employer who matches your contribution.

Estate Planning

Even if it feels way too early -- or just too creepy -- to think about what will happen to your finances when you die, it's a good idea to tackle this planning sooner than later. Having a will in place will ensure that your property is inherited by the people you choose. And other estate planning tools such as living trusts can save your inheritors significant tax dollars and attorney expenses.

When you manage your money, you gain power over your life. Instead of wondering whether you'll meet your bills every month or offering your credit card to a sales clerk without knowing whether it'll be accepted, you'll be able to set priorities and goals, working toward what you want and earning satisfaction when you get it.

Money is better than poverty, if only for financial reasons.
-- Woody Allen