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The Allocation Plan Program

At C.M. Carrillo Financial Advising, we routinely work with clients that are in all stages of life. Over time, we have helped many of our clients develop a clear understanding of their household cash flow. We do this by helping individuals and couples formulate a household budget. Having a household budget is relevant for those that are just starting out as well as those that are a bit more well-established.

It is common for recent college graduates, newly engaged couples, and newly married couples to inquire about household budgeting. It is also common for those that are between jobs, those that are preparing for retirement, and parents that are currently navigating the College Planning Process to make such inquires. At the end of the day, household budgeting is really a relevant topic for everyone.

Ideally, the process of formulating a household budget should be completed either before you and your advisor begin the Risk Management level of planning, or it should be completed during the Risk Management level of planning. To review, let’s briefly take a look at all of the components that comprise the overall financial planning process. This involves going back to the basics, which can be illustrated by The Financial Planning Pyramid.

Some Financial Advisors routinely include the budgetary process as a part of their Life Insurance Needs Analysis, which is actually very responsible. This is because one's household budget is an exceedingly relevant component of the Needs Analysis that is necessary in order to ascertain the appropriate level of life insurance coverage for an individual.

That being said, the The Budgetary Process can certainly be revisited at any stage
of planning;
however, it is always a good idea to address it sooner rather than later.

At C.M. Carrillo Financial Advising, we like to refer to one’s budget as their Allocation Plan and our Allocation Plan Program involves us walking individuals through each category of their household’s Allocation Plan. We are more than happy to take the time to do this because we understand that merely handing someone a spreadsheet and asking them to work through it by themselves often results in no action being taken. This is simply because the spreadsheet by itself can for some be a bit intimidating or overwhelming.

That is why we prefer to take the spreadsheet and transform it into a meaningful conversation.

One of the reasons these conversations are so meaningful is because we are able to help clients understand "the why" when it comes to various line items on their Allocation Plan. It should also be noted that conversations about money can often times evoke certain emotions; consequently, we work to help clients navigate the budgetary process while keeping their vision for their future as well as their desired lifestyle in mind.

The ultimate goal of The Allocation Plan Program is to help clients and prospective new clients understand their monthly cash flow in an effort to "find the money" necessary for them to begin implementing the various components of the overall financial planning process that are determined to be appropriate for them given their specific financial goals and objectives.

Financial Insights On Budgeting

The Allocation Plan Program

4 Step Process

Steps 2 - 4 of the process are accomplished through conversation with the Financial Advisor.

Step 1: Get the numbers down on The Spreadsheet

Step 2: Fill in the gaps on The Spreadsheet

Step 3: Analyze the numbers in an effort to understand "The Why"

Step 4: "Find The Money," Reallocate, and Implement

If you or someone you know would like to start a conversation about formulating a household Allocation Plan, Call Today! It is an excellent way to begin the overall financial planning process.

We are always here to help in any way that we can.


Christopher M. Carrillo
Financial Advisor

Helping You Transform Your Vision Into Your Reality

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