What would you recommend financially for a responsible young adult?

In terms of attaining credit, credit cards, checking accounts, investments, etc. What would be a wise start?

1) Always have the mean to pay off your credit card balance every month (unless its a large purchase, then you should ask the store about 0% financing and spread the cost during those months). Never be late on credit card payments and never max out your credit cards. You want to build a good credit history. That way, when you want to get a loan or a mortgage, you will get a low interest rate on it.

2) When you get paid from work, always pay yourself first. Meaning, you save it into a retirement account. You should open a Roth IRA. Some places ask you to put a minimum deposit of $1000. I opened my Roth IRA at Primerica Financial Services when I was 23 yeas old and started with a $25/month investment. They offer various mutual funds from high quality mutual fund companies such as Fidelity, Van Kampen, Legg Mason Partners, and so on. You also get a free financial advisor who can pick the suitable mutual funds for you so that you don't have to guess what mutual funds to pick. I have Legg Mason Partners funds in my Roth IRA and I have an average rate of return of 14% so far.

I highly suggest enrolling in the systematic investment plan. Its free and it makes you a discipline investor. How it works is you link your checking account to your retirement account and money will be transferred from your checking on the same day of every month. You can stop this investment plan anytime. Why you want to invest every month? If you understand the dollar cost averaging concept, you will see that you will lower the cost per share you own over time.

3) You want to start an emergency fund. I recommend opening a money market fund account. They get an average rate of return of 4-5%. Or you can open a savings account online such as HSBC Direct or Emigrant Direct. They give 5.05% APY with no minimum balance. Keep in mind, whether you put the money in the money market or in a bank account, the rates will change.

4) I would write down everything you spend on on a monthly basis such as food, entertainment, gas, car maintenance, home maintenance, clothing, insurance, utility bills, etc. If you pay things once a year or twice a year, just divide it by 12 or 6 months. Then look at what areas you can lower your spending on.

5) I wouldn't keep too much money in a checking account. Checking accounts earn little or no interest. I would just put enough in there to pay off your monthly bills. I set up all my bills to be due on the same date of every month. That way I pay it all in the same day and I only need to make one trip to the bank to deposit money.

Create an emergency fund, start a retirement fund and set up some automatic payments every month so you won't have to think about it. They sell mutual funds with an appropriate mix of risk for someone young; this is the safe way to go. get 2 or three cards with no fees and gradually increase your limits, but use them sparingly unless you get some cash back for spending. stay far away from fees and pay cash for as much as possible.

A good credit union can help you with all of that!

good credit ... a credit card ... bnk acct... just to start .. being financial savvy is the bst way ..cause there is no one way ..

Open a checking account. Start a retirement account (I would suggest a Roth IRA) with a mutual fund company like Vanguard or Fidelity (both offer many low expense ratio, no load funds to choose from). I would suggest starting with a broadly diversified equity fund as your core holding. Obtain a credit card or two. Hopefully ones that offer a cash back benefit (1% for example). Only use the credit card for items that you will pay for within the first billing cycle. Never carry a balance on a credit card. Credit card interest rates are almost criminal. Make a budget and track your expenses. Include a fixed percentage of you income in the budget as savings...and pay yourself first. Build an emergency fund adequate to cover 3 to 6 months of fixed expenses. Decide early on that you will never confuse "needs" with "wants".