These days, it is more important than ever to be smart with your money. There are plenty of ways to build wealth and savings – and just as many mistakes to stumble upon. While mistakes can and do happen, it always hits harder when they come from the financial world.

The simple truth is that there are several widespread financial mistakes, all of which could be easily avoided with a little bit of research. The first step in prevention is understanding, so with that in mind, here are some of those most common mistakes.

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