eFinPLAN Blog

Here you'll find no-nonsense advice to help you understand and manage every one of your pennies - from how to budget yourself out of debt to tips for selecting the right kind of insurance. We write every word ourselves so you'll know that the information you read here is accurate and practical!

5 Financial Steps to Buy a House

Categories: Real Estate

Homes are the single-most significant purchase consumers make. Your knowledge and skill in making an excellent house purchase decision will contribute to helping you reach your other financial goals. This primer contains financial planning information to help prepare you for the buying process. This preparation phase is perhaps the most important phase of the home… Read More »

Top 10 Financial Planning Tips for Engaged and Newly Married Couples

Are you soon to be married or recently married? Did you know that money is cited as one of the root causes of divorce? Following these financial planning tips may help you avoid money traps in your relationship. 1: Create a Written Financial Plan. Acquire a financial plan, perhaps an eFinPLAN financial plan. Having a plan gives… Read More »

Part 3: How to Follow and Stay on Budget

    Prior articles discussed 1.) Why you should have a budget  2.) What is a budget and how to get started. This article discusses how to follow a budget each month. Most people easily grasp the first two articles, but few people actually follow or stay on budget. For people who really need a budget but ultimately fail… Read More »

Part 2: What is a Budget? and How to Start a Budget

What is a budget? Simply put, a budget is a monthly spending plan for your money. Budgeting made simple, fixed versus variable expenses: Even more simply put, it is a spending plan for your expenses that are not fixed. Fixed expenses are things that stay the same each month. For example, your rent and mortgage… Read More »

Part 1: Why You Should Have a Budget

Cash flow management is especially important today as Americans are saving less and are further in debt than at any other time in our history. Let us explore why you should have a budget. The number of people that have and follow a budget is only about 33% of people today in the U.S. Cash Flow Management… Read More »

Part 5: Is Suze Orman Right: Can you do your own financial planning?

Suze Orman says: Do Your Own Financial Planning! “I think it’s imperative for you to do as much of the work as possible, rather than turning control over to someone else: your finances.” Ms. Orman and I agree on this. Is this really true, and what does this mean? I think the biggest thing Suze Orman can… Read More »

Part 4: When to Update Your Financial Plan

Certain life events can make significant changes to your overall finances and  can necessitate updating your financial plan. This list of life events is provided to alert you to circumstances that may affect your overall plan. Receiving a large amount of money. “Money is the world’s curse. May the Lord smite me with it! And may… Read More »

Part 3: Financial Plan Basics: Financial Planning Myths

There is a lot of misinformation about financial planning. Therefore, this article exposes some of the myths or hypes of planning. This information may be helpful for people to understand more about financial planning. Financial Plans Should Not Be: 1: Product Purchase Centered:  Financial planning should never be based on the sale of a particular insurance or… Read More »

Part 2: Personal Financial Planning, History, Process and Options

Financial Planning Defined: The devising of a program for the allocation and management of finances and capital through budgeting, investment, etc. In other words, it is the process of meeting your life goals through the proper management of your finances. Financial Planning Trends:  Financial planning has been an emerging profession for about the last 30 years. Prior to… Read More »

Part 1: Basics of Financial Planning – What is Personal Financial Planning?

Personal Comprehensive Financial Planning: A financial plan serves as an ongoing master plan for your money.  It also serves as a cornerstone for decision making throughout your life.  All of life’s decisions affect our finances; education, home purchases, vacations, and children, and a multitude of choices also have an affect on college planning, retirement, etc.  A financial plan should… Read More »