Great advice from Personal Finance for Dummies by Eric Tyson, who teaches at Berkeley:

-Don't go into debt for things that lose their value over time. Using loans for educational expenses is fine, but avoid paying interest on things like cars and clothes.

-Pay off your credit card bill in full. It's simple really-- if you can't pay it off, then you're using your credit card too much.

-Invest mostly in stocks when you're young, because in the long run you'll earn more money with stocks. But make sure to diversify! A no-load (commission-free) mutual fund is a great way to invest.

And one from me:

-Consolidate your loans if you just graduated! Our class's grace period is up this month, and you can lock in a 2.8% interest rate on most loans if you consolidate before the grace period ends. If you wait until after the grace period ends, the interest rate jumps to 3.4%