Good financial habits are the foundation of long-term stability and success. This fall, the Yonkers Public Library hosted “Falling Into Good Financial Habits,” a workshop led by Aureo C. Pinto, Jr., Enrolled Agent and Registered Financial Consultant. The session focused on how everyday choices and consistent practices can help individuals and families build wealth, reduce stress, and plan for the future.
Here are ten essential habits highlighted during the program:
1. Live Below Your Means
Spend less than you earn and prioritize needs over wants. Avoid lifestyle inflation, even as income grows.
2. Pay Yourself First
Make saving automatic. Regular contributions to savings and retirement accounts help build security, including an emergency fund covering 3–6 months of expenses.
3. Invest Early and Consistently
Start investing as soon as possible. Accounts like 401(k)s, IRAs, and Roth IRAs allow you to benefit from the power of compound interest.
4. Eliminate and Manage Debt Wisely
High-interest debt should be reduced quickly. When used strategically, certain debt—such as mortgages or business loans—can support wealth-building.
5. Diversify Your Income
Multiple income sources reduce reliance on a single paycheck and create additional financial stability.
6. Protect Your Assets
Insurance and estate planning safeguard what you’ve worked for. Life, health, property, and disability insurance, along with wills and trusts, are important tools for protecting your financial future.
7. Build and Preserve Credit
A strong credit score makes borrowing less costly and increases financial opportunities. Use credit responsibly.
8. Educate Yourself and Your Family
Financial literacy should be ongoing. Learning and teaching financial principles equips both adults and children to make informed choices.
9. Plan for Taxes
Incorporate tax planning into your financial strategy. Tax-advantaged accounts and smart planning help maximize what you keep.
10. Document and Communicate Your Plans
Write down financial goals, estate wishes, and legacy intentions. Share this information with loved ones to ensure clarity for the future.
Wealth is built through consistent habits, not chance. By practicing sound financial behaviors, protecting your resources, and continuing to learn, you can strengthen your financial foundation and create long-term security.
At the Yonkers Public Library, we are committed to supporting lifelong learning—including financial literacy. Explore our collection of personal finance books, digital resources, and upcoming workshops to continue building your financial knowledge.
About VASK - We've been helping businesses and individuals safeguard their assets and plan for the retirement they want. Aureo Pinto is a Registered Financial Consultant and an Enrolled Agent. He has over 35 years of Accounting and Tax experience with individuals and small businesses. Visit Vask online at: https://vaskfinancialawarenessgroup.com/
You can check out video recordings of previous VASK Financial programs on their YouTube channel: VASKFinancialAwareness Group