Anthony Badillo, 32, graduated college with about $100,000 in student loan debt.
At first, he tried to live a similar lifestyle to his friends, even though he had an extra bill every month that they didn't have — loan repayment. After amassing $10,000 in credit card debt, Badillo reassessed his spending.
"Sometimes, I would stay in on the weekends, or sometimes I wouldn't go on the big trip," he said. "It takes time, understanding and a willingness to actually make the change."
After learning his financial lessons the hard way, Badillo has turned to helping others avoid his early mistakes. He became a certified financial planner at Gen Y Planning, an online planning firm that caters to people in their 20s and 30s.
For young people first entering the workforce, managing finances may seem daunting, but even in big cities across the U.S. where millennials are flocking and costs are high, it's far from impossible.
Here are some tips from financial experts and young workers about navigating their finances on their own for the first time.