We all make mistakes, even when it comes to managing our money. Few of us can be expected to go our entire adult lives without misspending, or making a shoddy investment decision, or failing to save in case of an emergency. With all the potential hazards that exist, having a perfect record on personal finance is nearly impossible.

The fine people over at Investopedia recently compiled a list of the seven most common financial mistakes Americans can make. At the very top of the list, as you might imagine, is frivolous or unnecessary spending. When you spend too much, on things that you don’t necessarily need, you leave less money in your savings or investment accounts. That makes it hard to grow your wealth over time.

Click here for the full list.

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