Juliette Fairley, author of "Cash in the City," reveals common money mistakes and provides tips to help women become more financially savvy.

Men make financial mistakes too, but here are the top three mistakes made by women:

One of the mistakes women in particular make is failure to set financial goals. Everyone should set a timeline and a dollar amount of what they want in their future.

Another mistake women tend to make is spending too much money on material items. Men are also guilty of splurging, but they tend to do so less often and their purchases are more likely things that get used. To avoid temptation, only use cash on these purchases.

Also, women are better known for their ability to save money, rather than invest it. While saving money is a good thing, investing is better at helping money grow. Investing can be done with even small amounts of money. Try putting $50 per month in a mutual fund or stock portfolio.