As a young person, I want to advocate that every young person seek to learn as much about financial affairs as is possible. It would not be unwise to take a simple bookkeeping course. Learn about the stock market, have fun but not at the expense of your financial health.

It would be a good idea to establish a monthly budget of expenses if you have never had one before. I love music and I have a budget for buying my iTunes monthly of the artists that I like and any new ones that I find in my hunt for new rap songs.

If you want to travel and see other major cities, now is a good time to do so because they will be a lot of sell-off vacations and packages offered. The reason I talked about learning about the stock market is because there are a lot of clothing designers on the stock market that lost value not because they are poorly managed but because they have fallen victim to these economic hard times.

If you buy stocks now, you will be buying low and waiting for the long-term rise in the value of these stocks in your portfolio. Take a lead from Warren Buffet. He's a billionaire but in your own small way you can learn from him buying what you can afford.

Now is also a good time to buy music from your favorite artists because good music can offer therapeutic value to one's emotional health in these difficult times.