2. Spending a Lot of Cash too Soon
Keep in mind that the amount of money you are going to live on when you retire will be fixed. Some make a mistake thinking that the amount of their savings looks relatively large. The problem is that most people forget that the money they have is to be spent during a long period of time. If you spend too much money too soon, then you will find yourself in big trouble in a few years. Learn discipline and self-control. Refrain from making unnecessary and expensive purchases. Be strong enough and resist the temptation to waste your cash on something that you actually can live without.