When we think about wealth, we tend to think mostly about building and maintaining it. But we need to look at the other side of the equation, too — losing wealth. It’s easier to do than you think, and you could be losing wealth regularly with no idea that you’re doing so.

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GOBankingRates spoke with financial experts to learn about wealth-destroying mistakes people make every day, without even knowing it.

Not Monitoring Expenses

Got an iron-clad budget in place? Great! But are you also meticulously managing and monitoring your daily expenses? If not, you’re likely losing wealth.

“Many misjudge their expenses or don’t keep an eye on their spending patterns,” said Steven Kibbel CFP, ChFC, CLU, senior editor at InternationalMoneyTransfer.com. “The ‘leak’ may impede attempts to increase wealth. You may reduce wasteful expenses and increase your savings by keeping a close eye on your spending and developing a thorough budget.”

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Holding Too Much Cash

It’s crucial to have liquid cash easily available in the event of an emergency, but it’s important not to store too much cash in a savings account, even if it’s generating interest. By keeping too much of your savings in cash, you’re losing money in the long run.

“You’re not only missing out on a huge opportunity to invest and grow your money but you are also allowing your money to erode in value over time relative to inflation,” said Carla Adams, founder and financial advisor at Ametrine Wealth. “Certainly you should keep a portion of your money in cash (an emergency fund should typically be about 3-6 months of your living expenses), but long-term savings should get invested in stocks and/or bonds.”

Yes, investing in the stock market does come with risks, but there are ways to go about it so you still come out on top.

“Investing in the stock market may seem incredibly risky — and it can be if you’re investing in individual stocks — but if you invest in broad index funds, you can expect an average return rate of about 10% per year,” Adams said. “Short-term market fluctuations can be huge at times; but, for long-term savings, the risk you take on will pay off and your money will double roughly every seven years if you’re invested in an all-equity portfolio.”

Making Just the Minimum Monthly Payment on Credit Cards

Money is tight for many, and it can be tough to pay off your credit card balance in full every month. But really do your best to pay off as much as you can. You’re losing a lot of money by making only the minimum monthly payment.

We could all use a few tips to find some extra money. Whether your goal is to buy a home, pay off debt or save for retirement, optimizing your finances can help you reach your dreams — but financial mistakes can set you back more than you realize.

There are a couple of steps you can take to be proactive. Track where your money is going and create a spending plan (these personal finance apps can help). Figure out how much you can put toward your goals each month, and be diligent about doing it. Don’t forget to look at ways to trim expenses or save on essentials, such as scouring Facebook Marketplace for deals.

So we’ve crunched the numbers and discovered how much you’re potentially leaving on the table. From not using coupons to skipping a high-yield savings account, these are the most common money mistakes you may be making without even realizing it.

Once you hit retirement, it can be tempting to sit back and enjoy the benefits of your years of hard work. For some, this can seem like a good time to turn the focus away from building more wealth.

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On the contrary, actions like stopping investing all together can seriously hurt your financial future. GOBankingRates talked to financial experts to learn about four of the worst mistakes they see retirees make that inhibit the ability to build additional wealth.

Going Conservative Too Quickly

Chris Heerlein, CEO of REAP Financial, said one of the most common mistakes he sees is retirees going too conservative too quickly.

“It’s natural to want stability, but many people forget that retirement can last 25 to 30 years or longer,” he said. “Shifting entirely into fixed income or cash equivalents may feel safe, but over time it can shrink your purchasing power and limit your ability to respond to inflation, healthcare costs or changes in lifestyle.

Heerlein added that he always reminds clients that retirement isn’t the finish line for investing; it’s a new phase where smart growth still matters.

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Having the Wrong Focus

“Another issue is focusing too much on income today and not enough on opportunity tomorrow,” Heerlein noted. “Retirees often want predictable distributions, but they overlook how reinvesting a portion of their returns or keeping exposure to long-term trends can unlock greater financial flexibility.”

Heerlein noted that some of his most successful retiree clients maintain a 20% to 30% allocation in assets tied to innovation or equity-based growth, giving them the ability to adjust, gift or reinvest later without draining principal. The goal isn’t to chase risk, he noted, but to stay in the game with the right mix.

Sitting on Too Much Cash

According to Christopher Stroup, founder and president of Silicon Beach Financial, another big mistake retirees make that stops them from building more wealth is sitting on too much cash.

“Retirees often keep large sums in savings accounts ‘just in case,’ while inflation quietly erodes that value,” Stroup said. “A smarter approach balances liquidity with growth through diversified investments.”

Underestimating Tax Requirements

Stroup said another mistake retirees make is underestimating taxes in retirement. He said too many retirees ignore how required minimum distributions, Social Security and investment income interact.