Aftershave balm or lotion is applied to the shaved areas; I will typically use a bit less than an almond sized amount of balm, or if it's a lotion about an inch across or so in my palm. Balm or lotion is entirely up to you.

Cologne, or its more fragrant cousin Eau de Toilette (EDT), should be used sparingly, lest you want to smell like a 16 year old boy or a 1970's disco star. If it has an atomizer I will use 2 or 3 quick sprays on my upper chest. With no atomizer I will usually apply a few finger dabs to my neck line, careful not to touch any shaved skin.