Good financial behaviors include:

  • Establishing measurable financial goals and realistic plans to achieve them
  • Building and maintaining an emergency fund equal to three months of take-home pay
  • Using a budget to control spending for regular and irregular expenses
  • Maintaining adequate insurance for property, liability, life and health exposures
  • Paying credit card charges in full every month and keeping non-mortgage debt payments below 15 percent of disposable monthly income
  • Saving for retirement through a tax-sheltered plan
  • Leaving retirement money where it belongs in retirement accounts prior to actually retiring
  • Recognizing that the closer one is to a financial goal that less risk should be taken
  • Preparing, and updating a will, advance directive documents and beneficiary and ownership designations on all financial accounts,¬†as needed.