7 Names Date Creating a Personal Cash Flow Statement Purpose To maintain a record of cash inflows and outflows for a month for three months) Financial Planning Activities Record in and outfiows of cash for a one-for three month period Suggested Web Suggested App: Espen For month ending Cash Infos Salary take home Omar income Other income Total income 50.00 Cash Outflows 10.00 Fixed expenses Mortgage front Loon payments Insurance Other Other Totalfired outflows Variable expenses Food Clothing Electricity Telephone Water Transportation Personal care Medical experts Recreation GA Densions Other Other Total variable outflows I' 10.00 Total Ouiflows 50.00 Surplus Deficit 10.00 Apply any Allocation of surplus Emergency and savings Financial goal saving Others Total $0.00 What's Next for Your Personal Financial Plan? Decide which was opening need to be revised Eve your sending potes for preparation of a budget Name: Date: Creating a Personal Balance Sheet 6 Purposer To Germine your current financial position Financial Planning Activities List current les of the assist amounts ord for best to bistrom toals to determine not worth Suggested Websites Suppested Age: Balance Balance Sheet as of 30.00 SO DO $0.00 $0.00 Assets Liquid assets Checking counce Saving money market courts, Sunds Cash of He insurance Other Total liquid assets Household assets & possessions Current market value of home Market value of automobiles Fumitur Ster video camera equipment 50.00 50.00 $0.00 50.00 50.00 $0.00 $0.00 $0.00 Jew 50.00 Other Other Total household assets Investment assets Savings ficates Stocks and bonds Individual retirement accounts Mutual funda Other Total investment assets 50.00 $0.00 $0.00 S000 10.00 50.00 Total Assets 50.00 Liabilities Current liabile Charge account and credit card balances Loan balance Other Other Total currentes Long-term liabilities Mortgage 50.00 $0.00 $0.00 50.00 50.00 Other 50.00 $0.00 Tolong-mes 30.00 Total Liabilities 50.00 10.00 Net Worth as minus fishes What's Next or Your Personal Financial Plan? Compare you net worth to previous balance sheets Decide how can you will prepare a balance sheet Date: 2 Name: Setting Personal Financial Goals Purpose: To identity personal financial goals and create an action plan Financial Planning Activities: Based on personal and household needs and values, Identity specific goals that require action Suggested Websites: financialplan.about.com www.planwise.com www.360financieracy.org Suggested App: Urge Short-Term Monetary Goals (less than two years) Description Months to achieve Action to be taken Priority Amount needed $850 Example: pay off credit card debt 12 Use money from pay raise High Intermediate Monetary Goals (two to five years) Amount Description needed Months to achieve Action to be taken Priority Long-Term Monetary Goals (beyond five years) Amount Description needed Months to achieve Action to be taken Priority Time frame Actions to be taken Nonmonetary Goals Description Example: Set up Mo for personal financial records and documents Next 2-3 months Locate all personal and financial records and documents set up files for various spending, saving, borrowing categories What's Next for Your Personal Financial Plan? Based on various financial goals, calculate the savings deposits necessary to achieve those goals * Identity current economic trends that might influence various saving, spending. Investing and borrowing decisions 7 Names Date Creating a Personal Cash Flow Statement Purpose To maintain a record of cash inflows and outflows for a month for three months) Financial Planning Activities Record in and outfiows of cash for a one-for three month period Suggested Web Suggested App: Espen For month ending Cash Infos Salary take home Omar income Other income Total income 50.00 Cash Outflows 10.00 Fixed expenses Mortgage front Loon payments Insurance Other Other Totalfired outflows Variable expenses Food Clothing Electricity Telephone Water Transportation Personal care Medical experts Recreation GA Densions Other Other Total variable outflows I' 10.00 Total Ouiflows 50.00 Surplus Deficit 10.00 Apply any Allocation of surplus Emergency and savings Financial goal saving Others Total $0.00 What's Next for Your Personal Financial Plan? Decide which was opening need to be revised Eve your sending potes for preparation of a budget Name: Date: Creating a Personal Balance Sheet 6 Purposer To Germine your current financial position Financial Planning Activities List current les of the assist amounts ord for best to bistrom toals to determine not worth Suggested Websites Suppested Age: Balance Balance Sheet as of 30.00 SO DO $0.00 $0.00 Assets Liquid assets Checking counce Saving money market courts, Sunds Cash of He insurance Other Total liquid assets Household assets & possessions Current market value of home Market value of automobiles Fumitur Ster video camera equipment 50.00 50.00 $0.00 50.00 50.00 $0.00 $0.00 $0.00 Jew 50.00 Other Other Total household assets Investment assets Savings ficates Stocks and bonds Individual retirement accounts Mutual funda Other Total investment assets 50.00 $0.00 $0.00 S000 10.00 50.00 Total Assets 50.00 Liabilities Current liabile Charge account and credit card balances Loan balance Other Other Total currentes Long-term liabilities Mortgage 50.00 $0.00 $0.00 50.00 50.00 Other 50.00 $0.00 Tolong-mes 30.00 Total Liabilities 50.00 10.00 Net Worth as minus fishes What's Next or Your Personal Financial Plan? Compare you net worth to previous balance sheets Decide how can you will prepare a balance sheet Date: 2 Name: Setting Personal Financial Goals Purpose: To identity personal financial goals and create an action plan Financial Planning Activities: Based on personal and household needs and values, Identity specific goals that require action Suggested Websites: financialplan.about.com www.planwise.com www.360financieracy.org Suggested App: Urge Short-Term Monetary Goals (less than two years) Description Months to achieve Action to be taken Priority Amount needed $850 Example: pay off credit card debt 12 Use money from pay raise High Intermediate Monetary Goals (two to five years) Amount Description needed Months to achieve Action to be taken Priority Long-Term Monetary Goals (beyond five years) Amount Description needed Months to achieve Action to be taken Priority Time frame Actions to be taken Nonmonetary Goals Description Example: Set up Mo for personal financial records and documents Next 2-3 months Locate all personal and financial records and documents set up files for various spending, saving, borrowing categories What's Next for Your Personal Financial Plan? Based on various financial goals, calculate the savings deposits necessary to achieve those goals * Identity current economic trends that might influence various saving, spending. Investing and borrowing decisions