It is graduation time again, and that means smiling families, lots of photos, parties, and a few tears. Once the celebrating dies down, college-bound students look forward to the last summer before leaving home, while the non-college bound usually jump right into “freedom” and life on their own. Whatever lies ahead, this is a good time for students to consider what they might encounter and, as hard as it might be to admit, what guidance they still may need.

Finances: Many students encounter their largest learning curve with budgeting, paying bills, and generally managing money. Fresh graduates moving into apartments or housing other than dorms will be responsible for getting utilities and garbage pickup set up in their name, as well as signing a lease. Before moving in, figure out if gas, electric, and water are all on one bill or through separate companies, and find out what are reasonable rates so that any spikes in usage can be questioned. Read a lease and understand what it says before signing, and be prepared to pay first and last month’s rent and a damage deposit up front.

Open a bank account and fully understand how it works. Ask about fees, checks, debit cards, and credit cards, and how each work. Pay particular attention to the dangers of credit cards.

Most importantly, make a budget and stick to it. Ask parents for help or look online, but make a realistic budget, pay bills on time, and figure out how to have fun on the cheap.

Be prepared: The summer after high school graduation is often a carefree time spent with friends before heading in various directions for college, gap year programs, certification programs, or work. While having the last hooray is important, it is the wise student who is prepared for what is to come. If going to college, research some important deadlines before you start: final drop/add dates, tuition and fee deadlines, and financial aid deadlines. Get into the habit of reading email on a daily basis, as colleges send important messages often. Attend orientation to learn more about those deadlines, locate important campus offices and buildings, meet your advisor, and map out the closest coffee shop.

The summer after graduation also is the time to create or update a resume, particularly for job seekers. Contact people who are willing to be references and have their information available before applying for a job.

Be realistic: Leaving home for the first time can be a heady experience, but most students encounter emotions and situations that they were not expecting. Students are surprised when they are hit with a wave of homesickness, are lost when a roommate relationship turns sour, are shaken when they get a D on paper or exam, and can be overwhelmed with the party scene. When loneliness, anger, frustration, fear, or bewilderment rise up, it is okay to contact mom and dad, or school counselors for guidance and encouragement. It’s all part of the process.

Ferah Aziz is a college coach with launchphase2. Visit www. launchphase2.com/ or call 720-340-8111 to learn more about coaching for college bound students, and success coaching for college students. P. Carol Jones is the author of “Toward College Success: Is Your Teenager Ready, Willing, and Able.” Visit www.towardcollegesuccess.com to read excerpts and to follow her blog.