The video emphasizes the significance of establishing good financial habits early on, as these can shape one's financial mindset for life. It highlights common challenges, such as the tendency to overspend on dining out, and suggests that understanding habits as a loop of cue, action, and reward can help in modifying them. To change a habit, one must replace the action while being mindful of the process. The video provides practical advice on overcoming the difficulty of saving by automating the process. It mentions services like TD's pre-authorized transfer services, which allow users to set up automatic transfers to savings accounts, thus making saving easier and more consistent. This automation can be customized to limit access to the savings, reinforcing the habit of saving without the temptation to spend.