I favored the “Big Shovel/Little Shovel” approach to financial management when I was young. You put the money into the bank with the Big Shovel and you take it out with a Little Shovel. That way you always have money in the bank. This worked for a long time, when I did not have much finances to manage.
It becomes clear pretty early on that you want your Big Shovel to be as big as possible. If I had to fault this kid for one thing, it would be that he has not maximized his earned income. Earned income is the firm foundation, because it is something you have created yourself, that nobody can take from you.
Except the government.