We are all guilty. In four years time, the average college student is successful in graduating with both a diploma and around $2,200 in credit card debt (and that is one of the lower numbers I found). Unfortunately, this does not include the tens of thousands in student loans they will also graduate with. That is a rather disappointing proposition for a generation of students faced with high housing costs and a shaky job market.

For advice on how to cut your credit card debt, Zen Habits has listed 73 great tips for eliminating debt. The first one that naturally pops up in my mind and the first one on the list - DON”T GET INTO DEBT. That’s a little obvious, but here are my top three favorite tips:

Pay Yourself 10% First: This is the infamous golden rule from The Richest Man in Babylon (the number one book on personal wealth management as well as a timeless classic). Before you even think about paying off your debt or spending money on *cough* social activities - put that cash in the bank. This might come as a surprise, as we are trying to pay off your debt here, but as your interest compounds, your money will start to work for you and help even more in reducing debt. In addition, it will get you in the habit of saving money.

Have a Long Range Vision: It is important to set personal goals and chart a financial path as to how you will attain them. Want that 80′ Yacht? Sure, just how are you going to save up a few million? Believe it or not, just by writing out your goals as specifically as possible and brainstorming how you might achieve them, you will see yourself have more success in attaining them.

Change How you Think of Money: First, calculate your net income per hour. For the majority of students, who have very little time to work, it will be the one minimum wage job as your only source of cash flow. By realizing what your actual net income is (minus taxes of course) you will put your future purchases into perspective in reference to the number of hours you will need to work. Is it worth 40 hours mopping floors at Uncle Joe’s Pizza and Grinder Shop just to get that new purse?

Make sure you take a look at the full list of debt elimination tips by Zen Habits. The site also has related articles on passive income, goal planning and time management that you might find interesting.