1. Living Beyond Your Means: Spending more money than you earn is a surefire way to stay poor. It leads to debt and financial instability.

2. Not Budgeting: Failing to create and stick to a budget can result in poor money management. Without a budget, it's easy to overspend and lose track of your finances.

3. Impulse Spending: Making impulsive purchases without considering the long-term impact on your finances can lead to financial troubles. It's important to think before you buy.

4. Neglecting Savings: Not saving for the future or emergencies can leave you vulnerable to unexpected expenses. A lack of savings can perpetuate poverty.

5. Avoiding Financial Education: Not taking the time to learn about personal finance can keep you in the dark about important money management principles. Ignorance about money matters can lead to poor financial decisions.

6. Ignoring Debt: Allowing debt to accumulate without a plan to pay it off can be financially crippling. High-interest debt, in particular, can be a major obstacle to building wealth.

7. Not Investing: Avoiding investing or not taking advantage of investment opportunities can hinder your ability to grow your wealth over time. Money that sits idle doesn't have the chance to appreciate.

8. Living for Instant Gratification: Prioritizing short-term pleasures over long-term financial goals can lead to a cycle of financial instability. Delayed gratification and discipline are important for building wealth.