Financial planning covers a wide variety of topics including budgeting, expenses, debt, saving, retirement and insurance among others.

Getting control of your finances requires a starting point. David covers the basics of financial planning: budgeting, reducing expenses and debt, saving for retirement, and insurance.

Understanding how each of these topics work together and affect each other is important for laying the groundwork for a solid financial foundation for you and your family. Talking to a professional who can help you build a financial plan encompassing all of the above and more will ensure that you are on the road to financial success.


At the very basic level of personal finance you are dealing with a budget. You make money and then you spend that money. Even if you haven’t created a detailed and written budget, you continue to budget on a daily basis.

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When you are faced with spending money on something, you think about it. Hopefully you realize that by spending that money, you will not be able to spend that same money on something else.

When you create a budget, you begin to see a clear picture of how much money you have. You see what you spend it on, and how much, if any, is left over. When you can clearly see where your money is going, you can then budget appropriately so that your money is going where it should be going.

Cutting Expenses

After you have successfully created a budget, you'll have a much better understanding of where your money goes. Then you'll see where you can possibly ‘trim expenses’. For many people, this is as simple as cutting back on some of the little things that can add up.

Getting Out of Debt

Even after creating a sound budget and cutting unnecessary expenses, you may still find yourself with lingering debt to get rid of. Using credit and taking on some debt itself isn’t necessarily a bad thing. But when you can't keep up with the payments or borrow more than you can afford to pay back, you could be in trouble.

One of the most important steps in getting out of debt is to pay more than the minimum amount due each month. Even a modest credit card balance can take over a decade to pay off if you simply pay the minimum amount due. In addition, paying the minimum will end up costing you thousands in interest over that period.

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Saving for Retirement

With fewer employers now offering full pension plans, it has become more important than ever to save and plan for your own retirement. Unfortunately, many people feel that they simply don’t have enough money left over each month to save.

Retirement savings must become a priority instead of an afterthought. There are numerous international retirement plans that work tax efficiently helping you to avoid tax on the growth. Also with an international retirement plan, you have a large amount of flexibility. After all, we never know what life is going to throw at us. Having a flexible retirement plan will allow you to manage the plan as your life changes.

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You've created a budget, cut expenses, and eliminated your credit card debt. You have started saving for retirement, so you are all set, right? While you've definitely come a long way, there is one more important aspect of your finances that you need to consider.

You've worked hard to build a solid financial footing for you and your family, so it needs to be protected. Accidents and disasters can and do happen. If you aren’t adequately insured, it could leave you in financial ruin. You need insurance to protect your life, your ability to earn income, and to keep a roof over your head.