Study after study has revealed that we all make mistakes with our money. These mistakes, of course, end up costing us big time. Here are some of the basic mistakes that most often occur. Make sure to avoid them or end them now.

The biggest mistake nearly all of us make with money is one of timing. Simply put, we don't take action today and then come to regret it. When should you start saving for retirement and a new home? Now!

We are a debtor nation and that is not a good thing. If you ever hope to get out of debt, you must stop spending more than you bring in. It can be tough at first, but it will ultimately pay off. Turn this one trick and your finances will improve.

How can a vast majority of us be spending more than we earn? Credit, of course. Credit is the promise of money, but it comes with a sharp catch. Borrowing it is expensive. Get rid of your credit debt as soon as possible.

One of the biggest mistakes we make with our money has to do with impulse purchases. Ask yourself if you really need that new item. If you didn't set out from your home with the intent of buying it, you probably don't. Don't blow your money!

Credit cards are evil. Let me say that again. Credit cards are evil. Cut yours up. Any good financial plan stars with this step. Keep one if you must for emergencies, but cut them up otherwise. Use your debit card for convenience and to keep your spending under control.

Saving for retirement is critical. Don't make the mistake of waiting to long or not saving enough. Most retirement predictions these days are wrong. Medical care is improving yearly. You might live to 100, so make sure you have the money to do that.

Don't spend a dime on anything a financial guru says. Whatever you do, don't buy any books or cds they are selling. Financial gurus are scam artists and are only good at selling themselves. Don't spend your money on their junk.

Keeping up with the Jones is only going to accomplish one thing in your life - stress. Figure out what makes you comfortable and plan your finances accordingly. You don't need the latest SUV and so on. Be you and you will be happy.

We all need a little breathing room every so often. They way to do this financially is to figure out your total yearly expenses. Now save up that amount and put it in some safe investment. You now have security for a year regardless of what happens.

If you read back over the proceeding paragraphs, you will note two common themes. First, live within your means. Second, use common sense when considering investments. Stick to these two themes and you'll be in good shape.