1. Overspending to keep up appearances, 2. Avoiding budgeting and hoping for the best, 3. Treating credit as extra income, 4. Not talking about money, even when struggling, 5. Leaving financial planning for 'future you'

Real talk: Everyone dreams about being rich. Whether it's through winning the lottery, climbing up the career ladder, or becoming famous, it's a known fact that having heaps of cash makes life easier. However, we've probably got more chance of being mawled by a bear than winning the Euromillions, so if we want to grow our net worth, we'll have to find a different route (Picture: Getty Images)

Enter Matthew Sheeran, a money-saving expert at Money Wellness. While there's no 'get quick rich scheme,' he does explain that us Brits have plenty of cultural habits that can stunt our money growth. So, if you do imagine yourself living the life of luxury, but don't quite know what you're doing wrong in terms of saving and building your wealth, take note (Picture: Getty Images)

1. Overspending to keep up appearances

There's huge social pressure in the UK, and elsewhere in the world, to look like you're doing well, whether that’s the latest phone, a new car on finance, or pricey holidays. Unfortunately, not everyone can afford fancy lifestyles all the time. 'Many people end up living beyond their means just to keep up appearances, and it often leads to long-term debt,' Sheeran explains. The reality is, your family and real friends aren't going to judge you if you say you can't afford something. Nor are they going to love you any less. And, they're certainly not going to want you to get into financial troubles for their sake. Be honest, and be sensible (Picture: Getty Images)

2. Avoiding budgeting and hoping for the best

'A lot of people avoid looking too closely at their finances,' says Sheeran. What he means by this is that people spend without really knowing what they can afford. Without a clear plan or monetary strategy, money disappears fast, especially with rising living costs. To avoid this, create a simple budget. 'Start by writing down all your income, like wages, benefits, or any other money coming in. Then list your essential expenses, such as rent, bills, food, and travel,' the expert recommends. Once you know what’s left over, you can set limits for takeaways, clothes, or entertainment (Picture: Getty Images)

3. Treating credit as extra income

We've all been there: Ordering that new dress on Klarna or booking a couple of holidays on finance to stretch the payments out. Now, we're not saying that you're not allowed to have fun. It's more about avoiding using credit as income you don't have. Sheeran explains: 'Using credit cards or buy now, pay later for everyday spending is now the norm, especially when wages don’t stretch far. But treating credit as spare money leads to a cycle of debt that’s hard to break and costly over time.' So take a second. Do you really need that new T-shirt in four different colours? Or are you just ordering them because you don't have to pay for it straight away? (Picture: Getty Images)

4. Not talking about money, even when struggling

'Money is still a taboo subject in the UK,' Sheeran reiterates. People don’t talk about debt, bills, or financial worries, even with close friends or family. For some reason, our pride masquerading as silence stops us from asking for help or learning better habits. The reality? There's no harm in asking for financial advice. If anything, we encourage it. From learning budgeting skills to how to invest, it's something that should be instilled in us from an early age. That way, we can make better monetary decisions earlier, rather than having to learn from mistakes (Picture: Getty Images)

5. Leaving financial planning for 'future you'

Whether it’s pensions, savings, or getting insurance, people often delay big financial decisions assuming they’ll deal with it later, explains Sheeran. But small steps taken early can make a huge difference to your financial wellness. Whereas waiting usually ends up costing more. Examples of this include getting to grips with your pension. Can you afford to put more money away each month for retirement? If so, do it. Similarly, if you have a mortgage, try and make higher payments each month to shave off some years. Future you will thank you! (Picture: Getty Images)