1.  Using the same account for your daily living and for your bills.  Using just 1 account muddles everything together and opens your finances to accidentally spending money, that should have been saved for a known bill.

2.  Blindly believing the professionals and commercials who make money when you do business with them.  They are in business to make money for themselves first.  Find educators who are paid to teach you and won't make a dime by doing other business with you.  That way they have nothing to gain by keeping some secrets.

3.  Buying too much home.  Never use an ARM mortgage to "qualify" for a larger home.  The ARM mortgage should ONLY be used to save money by paying less interest.  When buying a home; "qualify" and purchase with a fixed interest loan.  Later, refinance to an ARM to save money on interest.

4.  Borrowing for purchases, instead of saving to make purchases.

5.  Buying / Leasing new cars instead of buying older models.  The value of a new car depreciates more during the first 2 years than at any other time.  Yes it is nice to have that new car feeling.  Is it really worth that much of your hard earned money???

6.  Making only the minimum payment on loans.  Especially credit cards.

7.  NOT using direct deposit and NOT setting up for automatic savings.

8.  NOT understanding the effects of inflation on the value of your savings.  The numbers in your savings may be getting larger.  Be careful; your actual buying power may be less.  Things cost more today than just a few years ago and Uncle Sam took part of your savings through income tax.

9.  NOT hunting for lower interest rates for new loans, or for refinancing of old loans.

10.  NOT learning more about the world of finances.  Either through formal education or through the school of hard knocks.  The school of hard knocks usually takes longer than formal education; is usually way more expensive; and doesn't always teach the lesson that's needed.