Doing it all by yourself – Professional assistance to manage your finances is necessary and should not be avoided.
Avoiding Budgeting – It is important to undertake proper income and expense analysis to have a clear understanding of current financial position.
Mixing Insurance with Investment – Both insurance and investment have different objectives and so should be treated separately.
No saving for emergencies –  When you are not prepared for unforeseen situations and are then forced to spend your savings.
No proper investment planning – One cannot stress much on the importance of investment planning for a financially secured future.
Paying off debt first – It is important to save first and then meet the liabilities and should not be done the other way round.
Tax planning – It is avoided by many but you can also save money by proper tax planning