In a medium bowl, stir together oats and cereal.

In a small sauce pan, melt butter, honey, and brown sugar together over medium heat.

Bring mixture to a low boil. Reduce heat and cook for an additional 2 minutes until the sugar is fully dissolved.

Remove from heat and stir in vanilla.

Pour wet mixture over dry ingredients and mix well.

Line a small pan (12x8x1 or a similar size) with parchment paper.

Dump granola mixture into pan and press down to about 3/4-inch thickness.

Sprinkle chocolate chips on top and press them into the mixture.

Place on the countertop for one to two hours (until fully cooled).

Cut into bars, place in an airtight container or ziptop bag, and refrigerate or freeze.