How to install mods on minecraft 1.7.10?

Well I ran into a huge issue with minecraft. I'm trying to intall a mod for minecraft but I don't have a bin folder or a mod folder so I don't know where to put the mods. I know that the recent updates don't involve having a bin folder but when I looked up how to install mods, recent answers were saying to put it in a mod folder that I don't have so I'm extremely oblivious as to how I really install mods.