When graduation season comes around, college seniors are bombarded with millions of questions, somehow all leading to one: “So, what are you gonna do now?” As a college senior myself, I can safely say that, as of right now, no question scares me more. As much as I’d like to answer with a confident “I already have a job lined up that guarantees financial stability and personal success for the rest of my life,” the only honest answer I can give is “Well, I don’t know.”

If you’re a college senior or a recent grad and you find yourself in a similar situation, don’t worry: this isn’t the end of the world, nor is it the worst place you could be by any means. At this stage in our budding careers as professionals and responsible adults, the only way you can guarantee success is to be prepared for anything and everything life could throw your way.

In college, we prepare by learning and mastering basic skills that’ll help us in our future line of work, but you can only learn so much in a classroom; some of the most important lessons are learned after we’re thrown out into the “real world.” This is just as daunting as it sounds, but that doesn’t mean you have to go through it alone or completely in the dark. by Jim Randel was written for exactly that reason. It’s intended for college seniors and recent graduates making their transition out of student life, and embarking on their journey off campus and into the real world.

There have been plenty of books written about the best strategies for post-grads or anyone looking for a new beginning, but since it feels like the clock starts ticking the second you switch the tassel and toss your cap in the air, there simply isn’t time to read them all. That’s why Randel took the most important points from a number of books, quoting everyone from Ben Franklin to Dale Carnegie to Steve Martin (yes, the comedian).

He begins the book by debunking the myth that there’s a “secret sauce,” or special recipe for success. Instead, Randel offers 125 lessons that will help you roll with the punches and, hopefully, come out ahead. These lessons hit all the hot topics, ranging from how to network, to understanding compounding interest, and even how to effectively face and defeat fear in all its ugly forms.

Condensed into one-page summaries, this collection of lifelong lessons is accessible and resonates with lines like “You control the space between thought and reaction,” (40) and “ Adults are just obsolete children” (252). It may seem like Randel is repeating what we’ve heard all our lives, but this book is intended for people who are finally willing to listen.

One of the sections that stood out the most was the Financial Literacy section because it was the only one to come with the explicit warning that in terms of finances, there is always more to learn. Randel divides his credit card section into 5 general tips to maintain a healthy relationship with your credit cards.

  • Wrap a rubber band around your cards to allow some time to reconsider your purchase.
  • Opt out of overdraft protection because it just amounts to unnecessary fees.
  • Create and stick to a routine for paying your bill on time.
  • Don’t rack up debt on your card just to get rewards.
  • Always pay more than the monthly minimum payment.

These are all very important rules, but that’s only the beginning.

In order to hack away at the long list of financial lessons, here are 3 more tips I’d like to offer recent grads trying to get a firm grip on their financial situation early in the game.

1.

This seems obvious, but using a credit card is like procrastination. We’ve all been there—it’s a great idea at the time and is seemingly impossible to resist, but indulge and you will suffer the consequences, my friend. Credit cards are a great way to build your credit, but you need to maintain a certain amount of self-control. As Randel mentioned, adding onto your credit card debt just to get rewards is a bad idea. If you carry a balance month-to-month , you should probably get a low interest credit card rather than a rewards card. The carrot of cash back always seems better than the stick of interest payments, but given that most rewards cards have higher interest rates, you’ll probably end up paying more in interest than you earn back.

2.

It’s safe to say that any card with a picture of Kim Kardashian on it is a little sketchy to say the least (I mean, she promotes ShapeUps, for goodness’ sake). Prepaid debit cards try to win us over with their promises of “no credit checks” or “no overdraft fees,” but we’re on to you, Kim Kardashian card companies. You’re better off with a traditional checking account, which offers all the benefits of a prepaid debit card without the laundry list of hidden withdrawal, deposit and monthly fees, to name a few.

3.

Of course interest rates are a very, very important reason to avoid having a balance on your credit card, but what many don’t realize is that carrying a balance close to your credit limit affects your credit score. Your debt utilization ratio, or the percentage of your open credit lines in use, makes up 30% of your credit score. So, for example, if you have an $8,000 credit limit with a $2,000 balance, your utilization ratio would be 25%. The lower the ratio, the better your score, because it shows you can avoid maxing out when trusted with a high limit.

As Randel said, there are many, many financial lessons to be learned. You can add these lessons, and125 more from to your repertoire and be fully equipped to begin your journey to success!

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