Sarah graduates from college with dreams of making it big in a new city. With a dash of youthful optimism and a pinch of impulsivity, Sarah books a one way ticket to New York City looking for a job as a journalist, but New York is expensive and Sarah quickly finds herself unable to pay her bills. She’s living paycheck to paycheck and making frivolous purchases daily. Plus, she has no savings account to speak of and her only investment is putting a quarter in a jar every time she forgets to call her mom back.

Sarah isn’t alone. Young people everywhere are finding themselves fresh out of college with no clue how to manage their finances.

But here’s the thing, financial planning is the key to independence (and not getting stuck living in your parents' basement). To that end, we compiled a list of a few fundamentals to help you get your finances in order.

1. Make a Plan

Having a robust savings account has been important since the birth of currency. Unfortunately, this is easier said than done in a world where an entry level salary is often barely enough to cover basic expenses. Still, the best way to get your finances in order is to come up with a money management plan. Traci Macbry of Broadridge Solutions says, "millennials should create a financial plan to ensure they are assessing immediate personal goals as well as preparing for their long-term financial needs." This means your financial plan should account for all your expenses. From discretionary purchases to your electric bill to that cute villa in Naples you plan to buy when you turn 60.

2. When in Doubt, Stick to your Budget

Get in the habit of separating your needs from your wants. Yes, the new iPhone has three cameras and you can take selfies in Portrait mode, but do you need it? If the answer is no and you haven’t factored it into your financial plan, then skip it.

Don’t get us wrong, we’re not opposed to the occasional luxury purchase and believe you should give yourself enough wiggle room to splurge on a fancy dinner or two. Just make sure it makes sense for your savings goals (that villa in Naples won’t come cheap) and is factored into your financial plan.

3. Alternative Investing 101

The world of investing is daunting and oftentimes unnecessarily complex, but we’re here to tell you that investing can be painless, financially rewarding, and you can literally make money while you sleep. The best part? There are a vast array of alternative investment platforms out there suitable for even the most novice of investors.

We recommend checking out Mintos, a global marketplace perfect for the millennial investor looking for an accessible means to financial gain. Mintos aggregates millions of loans from lending companies around the world and lets you invest in them with the click of a button. The benefits of such a platform are twofold; you make money off of interest rates and incurred late fees, while lending companies around the world have access to more capital, enabling them to fund the dreams and ambitions of individuals and small businesses around the globe.

So what are you waiting for? Don’t be like Sarah. Take a big first step towards financial freedom with Mintos today.