Got Financial Swagger?

STUDIO CITY (CBS) — Got "Financial Swagger?"

If not, let author Gabe Albarian show you how. In his new book, "Financial Swagger," Albarian teaches college and high school students how to avoid credit hassles, establish and keep good credit.

Albarian, a 28-year-old savvy businessman, says that the average student accumulates over $23,000 in student loan debt and $4,000 in credit card debt during their years as an undergraduate student, but it doesn't have to be that way.

Here are just some of Albarian's tips to achieve "Financial Swagger":

Two ways to establish credit without having your own credit card:

1. Have a financially responsible parent add your name and personal information to their credit card account at an AUTHORIZED USER.

2. Get a Secured Credit Card

Three tips to improving your credit score:

1. If you are late on any payments, get current and STAY current. The severity of late payments lessens as time goes on (after 6, 12, and 18 months).

2. Do not frivolously apply for or open credit cards and/or loans

3. Pay down the balances owed on your credit cards.

How to maintain good credit even during rough financial times:

1. Make your payments on time (even if it's the minimum amount due)

2. Don't consolidate your debt.

3. Check your credit history report at least twice a year

For more on "Financial Swagger," visit the book's website.