Kevin O'Leary: This is the biggest money mistake people make (and what to do instead)

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Kevin O'Leary: This is the biggest money mistake people make (and what to do instead)
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Kevin O'Leary: This is the biggest money mistake people make (and what to do instead.) (via CNBCMakeIt)

The smart thing to do with your money is invest it, according to O'Leary.

In fact, "the biggest money mistake people make today is they don't put aside at least $100 a week towards their retirement," he tellsWhile that might seem like a lot to some, O'Leary believes with the right plan, "everybody can save $100 a week." "If you've got a job, and you're getting paid $30,000, $40,000 [or] $50,000 – if you are making that, or even less, don't spend on something you don't need" and invest instead, he says.

"There's all kinds of apps out there that help you do it right on your phone. The one that I got involved in, and I've heavily invested in, is called Beanstox," he said. Beanstox allows users to invest small amounts of money – even a few dollars – to buy

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