Please use the ?Personal Balance Sheet and Personal Cash Flow to answer questions. Review and discuss your Actual Personal Cash Flow Statement. Discuss strong points. Di
Please use the Personal Balance Sheet and Personal Cash Flow to answer questions.
- Review and discuss your Actual Personal Cash Flow Statement.
- Discuss strong points.
- Discuss areas in which improvement should/could be made.
- Review and discuss your Personal Cash Flow Budget.
- Identify and discuss areas of the budget where you made changes from the Cash Flow Statement to improve your cash flow (e.g., reduce credit card debt/payments) in your attempt to bring your disposable income (in your Budget) to 5% to 10% of your total take home income.
- Discuss the meaning of having your disposable income (in your Budget) equal to 5% to 10% of your total take-home income.
Personal Balance Sheet
| Cynthia Fulton | |||||
| Personal Balance Sheet as of 10/23/2022 | |||||
| Assets (What you own) | Liabilities (What you Owe) | ||||
| Current Assets | Amount | Current (short term) Term Liabilities | Amount | ||
| Cash on hand | $400.00 | Credit Card 1 | $6,000.00 | ||
| Checking accounts | $1,200.00 | Credit Card 2 | $2,500.00 | ||
| Savings accounts | $5,213.01 | Credit Card 3 | $2,100.00 | ||
| Stocks | Credit Card 4 | ||||
| Certificates of Deposit, etc. | Credit Card 5 | ||||
| Retirement Accounts | $20,124.12 | Credit Card 6 | |||
| Home Furnishings | Credit Card 7 | ||||
| Jewelry | Loan on Jewelry | ||||
| Other 1 | Loans from friends/family | ||||
| Other 2 | Home line of credit | ||||
| Other 3 | Other short term debt 1 | ||||
| Other 4 | Other short term debt 2 | ||||
| Other 5 | Other short term debt 3 | ||||
| Other 6 | Other short term debt 4 | ||||
| Other 7 | Other short term debt 5 | ||||
| Other 8 | Other short term debt 6 | ||||
| Other 9 | Other short term debt 7 | ||||
| Other 10 | Other short term debt 8 | ||||
| Other 11 | Other short term debt 9 | ||||
| Total Current Assets | $26,937.13 | Total Short Term Liabilities | $10,600.00 | ||
| Long Term Assets | Long Term Liabilities | ||||
| Vehicle 1 | $36,145.75 | Vehicle 1 | $36,145.75 | ||
| Vehicle 2 | Vehicle 2 | ||||
| Recreational Vehicle 1 | Recreational Vehicle 1 | ||||
| Recreational Vehicle 2 | Recreational Vehicle 2 | ||||
| Primary Residence | $176,254.02 | Primary Residence | $176,254.02 | ||
| Secondary Residence | Secondary Residence | ||||
| Rental Property | Rental Property | ||||
| Business Assets | Business Loans | ||||
| Other 1 | Student Loans | $20,000.00 | |||
| Other 2 | Other 1 | ||||
| Other 3 | Other 2 | ||||
| Total Long Term Assets | $212,399.77 | Total Long Term Liabilities | $232,399.77 | ||
| Total Assets | $239,336.90 | Total Liabilities | $242,999.77 | ||
| Personal Net Worth (Equity) | -$3,662.87 | ||||
| Cynthia Fulton | October 23, 2022 | (If there is a 2nd person, type his/her name here) | (Date) | ||
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CashFlowStatement
| Personal Cash Flow Statement (My Current Actual Income and Expenses) | ||||||
| Complete this Statement BEFORE COMPLETING THE BUDGET! | ||||||
| Name: Cynthia Fulton | As of Date: 10/06/2022 | |||||
| Use this sheet to identify your TAKE HOME income, your monthly expenses, and your disposable income and percentage. | ||||||
| Do not report any monies deducted from your pay. | Change Cell Names as needed | |||||
| Monthly Take Home Income | Secured Debts (Monthly Payments on Major Items) | |||||
| Salary/Wages/Business Draw | 4,459.16 | Housing/Apartment Rent | 0.00 | |||
| Salary or Wages (Spouse) | 0.00 | Home 1st Mortgage | 740.00 | |||
| Social Security that you Receive | 0.00 | Home 2nd Mortgage | 0.00 | |||
| Pension/Retirement that you receive | 0.00 | Land Lease (Trailer park, other) | 0.00 | |||
| Interest you receive on Accounts (e.g., savings) | 0.00 | Student Loans | 0.00 | |||
| Alimony / Child Support that you receive | 0.00 | 1st Auto Loan/Leases | 385.50 | |||
| Real Estate rent (income) that you receive | 0.00 | 2nd Auto Loan/Leases | 0.00 | |||
| Investment Dividends | 0.00 | Recreation (Boat, ATV, etc.) Payments | 0.00 | |||
| Unemployment/ Food Stamps | 0.00 | Other Debts | 0.00 | |||
| Other income you receive (type the item in this cell) | 0.00 | Other Debts | 0.00 | |||
| Total Monthly Take Home Income | $4,459.16 | Other Loans | 0.00 | |||
| Other Loans | 0.00 | |||||
| Monthly Living Expenses | Total Secured Debt | 1,125.50 | ||||
| Alimony / Child Support that you Pay (outgoing) | 0.00 | |||||
| Auto Gas, Oil, Repair, and Taxes | 110.00 | Unsecured Debt (Monthly Payments) | ||||
| Auto Insurance | 171.00 | Credit Card 1 | 192.00 | |||
| Cable TV/ Satellite Fees | 30.00 | Credit Card 2 | 107.00 | |||
| Charitable Contributions | 0.00 | Credit Card 3 | 40.00 | |||
| Child Care | 0.00 | Credit Card 4 | 92.00 | |||
| Childrens' Activities | 37.50 | Credit Card 5 | 100.00 | |||
| Clothing Maintenance (Laundy/Dry cleaning | 0.00 | Credit Card 6 | 45.00 | |||
| Clothing Purchases | 0.00 | Credit Card 7 | 64.00 | |||
| Electric Bill | 100.00 | Credit Card 8 | 0.00 | |||
| Entertainment – Other than eating out. | 0.00 | Personal Loan 1 | 336.00 | |||
| Food (In-home / Groceries) | 120.00 | Personal Loan 2 | 110.00 | |||
| Food (Out of home – Lunch, Dining) | 0.00 | Medical Bill Payment | 0.00 | |||
| Health and Dental Insurance that you pay out of pocket | Other | 197.00 | ||||
| Homeowner/Condo Repairs and/or fees | 0.00 | Other | 0.00 | |||
| Homeowners or Renters Insurance | 0.00 | Total Unsecured Debt | 1,283.00 | |||
| Household items(e.g., soaps, toothpaste,Lawn supplies, etc.). | 0.00 | |||||
| Internet Access | 0.00 | Summary | ||||
| Life and Disability Insurance | 40.00 | Total Take Home (Income ) | 4,459.16 | |||
| Memberships (Health club etc.) | 0.00 | Total Living Expenses (-) | 1,473.21 | |||
| Personal Care (e.g., beauty salon/haircuts) | 0.00 | Total Secured Debt Payments (-) | 1,125.50 | |||
| Prescriptions | 0.00 | Total Unsecured Debt Payments (-) | 1,283.00 | |||
| Property Services (Gardener,Pool) | 0.00 | Disposable Income ** | 577.45 | |||
| Security Services (Alarm) | 38.22 | Disposable Income as a Percent of Total Income | 12.9% | |||
| Subscriptions | 10.97 | A healthy budget will have disposable income = 5 to 10% of total income. | ||||
| Telephone (Home, Cell, Pager) | 123.05 | |||||
| Trash Disposal | 0.00 | If your calculations reveal a deficit (negative number/ not enough income | ||||
| Tuition and School Supplies | 250.00 | to pay expenses), you are likely in serious debt. | ||||
| Water Bill | 91.78 | You may print this spreadsheet and write in the item amounts as you find the information. Then enter the information into this spreadsheet in Excel. | ||||
| Gas | 15.00 | |||||
| Loans | 335.69 | |||||
| Other Expenses | 0.00 | |||||
| Total Monthly Living Expenses | 1,473.21 |
PersonalBudget
| Personal/Household Budget Worksheet (My Money Management Plan) | ||||||
| Complete the Cash Flow Statement BEFORE Completing this Budget! | ||||||
| Name: (Enter your name here.) | Date: (Enter Date) | |||||
| Cell names and Data in this worksheet are imported from the Cash Flow Statement worksheet. You can change only the amounts. | ||||||
| On this worksheet, change EXPENSE ITEM amounts that you can adjust in your life (and on this worksheet) to have a better Disposable Income Percent | ||||||
| Monthly Take Home Income | Secured Debts (Monthly Payments on Major Items) | |||||
| Salary/Wages/Business Draw | 4,459.16 | Housing/Apartment Rent | 0.00 | |||
| Salary or Wages (Spouse) | 0.00 | Home 1st Mortgage | 740.00 | |||
| Social Security that you Receive | 0.00 | Home 2nd Mortgage | 0.00 | |||
| Pension/Retirement that you receive | 0.00 | Land Lease (Trailer park, other) | 0.00 | |||
| Interest you receive on Accounts (e.g., savings) | 0.00 | Student Loans | 0.00 | |||
| Alimony / Child Support that you receive | 0.00 | 1st Auto Loan/Leases | 385.50 | |||
| Real Estate rent (income) that you receive | 0.00 | 2nd Auto Loan/Leases | 0.00 | |||
| Investment Dividends | 0.00 | Recreation (Boat, ATV, etc.) Payments | 0.00 | |||
| Unemployment/ Food Stamps | 0.00 | Other Debts | 0.00 | |||
| Other income you receive (type the item in this cell) | 0.00 | Other Debts | 0.00 | |||
| Total Take Home Income | $4,459.16 | Other Loans | 0.00 | |||
| Other Loans | 0.00 | |||||
| Monthly Living Expenses |
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