If CNBC's Jim Cramer took over as America's professor, he would make some serious changes in the educational system.
Cramer finds it absurd that a student can graduate from school and not know how to write a check, or be required to have knowledge of personal finance.
"They say money can't buy happiness, but I've always found that piece of cliched conventional wisdom to be dubious at best since being broke is a major buzzkill, as I know first-hand from the time I spent living in my '78 Ford Fairmont," the "Mad Money" host said.
For younger investors who are trying to take an active hand in managing their money, the first step in achieving financial freedom is to invest. It's the only way to creating a life that isn't completely dependent on a paycheck, Cramer says.
However, there is a caveat. You must pay off credit card debt. It doesn't matter how much money you make in the stock market, that interest you are paying on a credit card will eat away at your returns and may be more than the profits you make.
For those looking to get involved with investing, Cramer shared three tips for young investors:
No. 1: Invest your savings
No. 2: Take risks if you are young
No. 3: It's never too early to save for retirement