I think I'm going to call my friend out for his poor financial sense.
Why do you think that about him?
My friend is not capable of handling his finances. He has too much debt.
If your friend is making terrible decisions like that, hopefully you bringing it to their attention will allow them the mend their ways.  It's good of you to be looking out for them like you are.  In the long run, I'm sure they will appreciate it.
I'm going to scold him and make sure he doesn't fuck up again.
I don't think scolding him is the right way to let him know that you're concerned. I think it would be better if you politely let him know that there are some things he could do better regarding his finances, and that you're willing to help.