Plot out a realistic spending plan. Much of that spending goes on credit cards. It's just not wise to spend with abandon and pile up high credit card debt in your 20s, especially for people who are facing a good 10 years or so of student loan payments. It only makes that financial hole you're trying to climb out of that much deeper. Conn. Of course, not all debt is negative.
Some debt is necessary to meet goals.
A college education and a mortgage, for example, are worth going into the red for. Make sure those mortgage payments are manageable each month. Overwhelming home expenses can eat into all aspects of your financial life, including long-term goals such as retirement. You don't want to put everything in so that you're house poor. People need to budget themselves so that they have enough cash flow after they've bought the house and fixed it up to save for retirement.