Spending habits, lifestyle, financial freedom and security are all topics close to everyone's heart. However, training to properly manage all these tasks successfully, has not been delivered consistently, so you are left to gain this knowledge on your own, often through trial and error. Learning about these common mistakes may keep you from going down the same path.

Let's list them out shall we?

#1. Spending More Than You Earn.

This would have to be the number one mistake made by millions of worried folks. Just stop and think about whose money it is you are really spending if you make this mistake. It is the banks or the Credit Card providers. The cost of this service is the interest charge. This could be the reason you never seem to able to get ahead.

Proven Tip: Spend within your means. Try to develop a mindset that pits your skills against the malls and try to SAVE money at every opportunity - not just spend.

#2. Not Saving for Those Large Purchases.

You will be forever chasing your tail financially, if you need to purchase your long-lived assets, such as furniture and white goods, on credit. They only have a limited life and are reducing in value all the time. Yet your credit charges remain the same year after year.

Proven Tip: Put aside some money each week or each month towards those asset purchases.

#3. Spending Money on Things Just Because They Are On Sale

Would businesses survive for very long if they spent their scarce resources on any advertised special or any "hot" product of the moment? What if they filled their warehouses with "specials" that they won't use, or bought more raw materials than they needed just because they were advertised on a late night TV infomercial? This can happen to you too. Buying more clothes than you need, some of which may not even be worn! How about those products advertised on late night TV. Do you REALLY need them?

Proven Tip: Think twice or even three times BEFORE you reach for the Credit Card to spend on a sale item.

#4. Not Actively Looking for Ways to Boost Your Income

Just because you have a day job does not mean that you should not try to improve yourself by doing any or all of the following:

- Go to the local library and learn more about your favorite hobby

- Maybe you could turn your hobby into a money-making venture, many people do. Why not you?

- What about setting up your own website and promoting other people's product for a commission?

- Learn how to improve your resume - ready for that next job opportunity

- Take a course by distance or at your local college to make yourself more employable, ready for the next opportunity.

#5. Not Actively Seeking to Sell Off Old and Unused Household Items.

Most people have heaps of unused items in their garages or under their house. These will have value for someone. Why not load them in the trunk and take them to the monthly markets. You'd be surprised how much they can be sold for.

#6. Comparing Yourself with Others and Their Lifestyle.

How can you be sure that the people you compare yourself to, are not struggling with the same financial problems you are? Just look to yourself and to your real needs.

#7. Not putting funds aside for investing.

You can never get out of this situation if you only live day-to-day. Even if you can put aside $10 a day, there's $3,600 in the space of just one year - plus interest! Surely there is the daily work lunch and the purchased coffees that could be substituted for some savings. Think what you could do with that much cash!

#8. Not Committing to a Budget Plan

This is one of the main downfalls. You cannot expect to have different outcomes if you do the same things day after day. This will take a little dedication and willpower. But in the end it's worth it. Financial freedom, cash to purchase your holidays and Christmas presents. Less worry - more life.

This is a very short list of mistakes made by ordinary people. However, the solution to your finance woes is not that difficult. All you need is a little commitment, good tools and desire to be free from financial worries. Get control today.

Bruce Hokin has designed a simple budget tool called "5 Steps to Freedom Personal Budget." It's based on his extensive background as a qualified, experienced accountant, manager, consultant and financial adviser. You can download this powerful budget assistant today and be on your way to financial freedom within the hour. It is available at his website www.freedom-personal-budgets.com.