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Millennials may be known as the tech-savvy generation, but being a whizz on a computer isn't going to help you when it comes to sorting out your dire finances.
Millennials are fast coming face to face with financial issues that our parents and older generational cohorts just didn't have to contend with.
Millennials, the generation born between 1981 and 1996, have come of age during a recession and it sucks.
As such, we are shouldering a bunch of financial problems such as student loan debt, an increasing cost of living (rising house prices AND rents), a wealth of unexpected expenses and needing to save for milestone events like retirement - all problems that are specific to our generation.
Yes, every generation has had to deal with low paying jobs, but never before have people struggled so much just to get on the housing ladder, nor have the previous generation been expected to save so ardently for retirement. What came so easily to our parents, won't come so easily to us.
So, instead of getting worked up about it, let's figure out how to cope with it and start by dealing with personal finance problems that affect Millennials.
1. Check your bank balance
One way of telling if you're a grown-up yet is if you can check your bank balance without wincing.
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This might be a long way off for most of us, but don't be an ostrich about it. You can't hope to deal with your personal finances if you can't even look at them - you know ignoring your finances is only going to make them worse.
If you haven't already, create a budgeting spreadsheet. It's not sexy, but it's the only way you're going to realistically keep track of what you're spending your money on.
If spreadsheets aren't your thing, then use Loot.io to keep an eye on your spending for you, they even alert you when you get too frivolous with your cash.
3. Track your spending
Knowing where your money is going will allow you to see any trends in your spending that you can cut back on.
Or it might make you realise you are living outside of your means (who isn't), in which case you might need to think about getting a side hustle to top up the tanks.
4. Reduce your outgoings
Look for the easy ways to reduce your budget - you don't want to cripple yourself or spend the month eating beans, but there are ways you can cut costs. Rent is non-negotiable, but your food budget is, same goes for your clothing allowance.
Every article you'll ever read about living within your means will say 'cut out that morning coffee' but that isn't sustainable. We need coffee to survive. We do!
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So instead look for the things that won't impace your existence or disrupt your life drastically. Do you really need that Sky package when you can get Amazon for £5 a month? Or rather than order in pizza at £20 a go, why not nip to the corner shop and pick up a frozen one for £3?
5. Save for a rainy day
Siphon off money at the source and start saving for a rainy day, now
By which we mean, set up a standing order for the same day your salary hits your bank account and transfer a set amount out each month to an ISA or a savings account.