The savings mistakes range from directly buying company stock to not saving for retirement.Here are the worst savings mistakes that you may be making:

1.You don't have a savings account.

Just 51 percent of American families have a savings account, according to the Fed's survey. Having a savings account is critical for being able to save over the long term.

2.You aren't saving for retirement.

Only 35 percent of families have an employer retirement plan, 28 percent of them have an individual retirement account (IRA), and 13 percent have both types of accounts, according to the Fed's survey.
根据美联储调查显示,仅有35%的美国家庭可以享受企业养老金计划,28%的家庭拥有私人养老金账户(IRA),13% 的家庭两种都有。

3.You have bought a few stocks directly from the stock market.

29 percent of families directly hold one stock, and 53 percent of families directly hold 2 to 9 stocks, according to the Fed's survey. People that aren't investing for a living are likely to lose money by buying individual stocks because they are being outsmarted by professional traders, high-frequency traders, and professional investors that have studied companies' fundamentals closely. Diversification, on the other hand, insulates you from individual companies' mistakes and allows you to benefit from the economy's general growth.

4.You chose your bank because it is close to you, not because of what it has to offer.

46 percent of households said they chose the location of their checking account because of the "location of their offices," according to the Fed's survey. Convenience is good, but it's even better to not have to pay crazy fees.

5.You don't have a checking account.

10 percent of families do not have a checking account, 59 percent of whom are in the bottom income quintile, 51 percent are headed by someone younger than age 45, and 66 percent of whom were minorities, according to the Fed's survey. Having a checking account is important for keeping track of your finances.