Welcome to eFinancial Management
What is finance and financial management
In it’s purest form finance is the art of money management and relates more specifically to the processes, institutions, markets and instruments used by individuals and businesses in the transfer of this money. The mainstream and more focused interpretation is, lenders (banks and other credit institutions) loaning money to borrowers (you and me) to fund anything from property to holidays. Financial management can be defined by the act of controlling finances, a term more loosely used by the mainstream to describe anything to do with money, to produce a desired outcome. Areas of management are concerned with cash management, budgeting, forecasting and investing.
Why YOU are here
At a guess there are two reasons why you are here, either you are struggling to manage your personal finances or you would like to learn more to accelerate your financial journey. This site caters to both of these categories, it’s just people struggling with their finances will find more value. In reality, the information isn’t specific to gender, age, education or profession – everyone can benefit! Everyday we are encountered with decisions that involve money which affect our financial position. It’s the management of this position which we are interested in here. With good checks and controls in place we increase the likelihood of being able to meet our present and future financial needs. The inverse (ie. poor checks and controls) and we decrease the likelihood of financial sustainability. It’s not uncommon to hear or witness firsthand cases of people having to sell their homes of 30+ years or cars or going to the bank to increase credit card limits or take out personal loans to cover the current shortfall. More often than not, the cause of this position stems from a lack of financial control and planning and not that of unforeseen circumstances. But, it doesn’t have to be this way and it’s never too late. ANYONE, that means YOU and me, has the ability to take control NOW. As the saying goes, “prevention is better than cure”, and this holds true in the financial sense as it does in the health terms.
What is MY focus here
YOU and improving your current financial situation. I have developed various free resources from simple calculators to complex models, all aimed to help you in the creation of your own personal financial plan.
How this site works
In time, a 3-Step systemised approach will be created to assist you in your do-it-yourself financial planning. For the meantime, this site can be used in two ways, you can either:
- Click the Start Tour button – this will guide you through a series of financial topics with planners and calculators and provide you with an overview of budgeting, investing and retirement.
- Get straight into your own planning – There is a multitude of material which can be found in Resources, Blog and Financial Jargon to aid in your DIY financial planning.