Assets: Income:

Checking account $$4,200$ Gross income $($Jamie Lee$)$ $$62,000$

Savings account $$17,700$ Net income after taxes $($Jamie Lee$)$ $$43,400$

Emergency fund savings account $$20,800$ Gross income $($Ross$)$ $$86,000$

IRA balance $$26,700$ Net income after taxes $($Ross$)$ $$71,300$

Car $($Jamie Lee$)$ $$13,200$ Monthly Expenses:

Car $($Ross$)$ $$20,700$ Mortgage $$1,480$

Liabilities: Property taxes $$570$

Student loan balance $$0$ Homeowners insurance $$370$

Credit card balance $$5,200$ Utilities $$245$

Car loans $$8,700$ Food $$585$

Gas$/$maintenance $$360$

Credit card payment $$360$

Car loan payment $$306$

Entertainment $$210$ e x $5$

$2.$ Total approximate expenses above and beyond your daily living costs for you and your dependents $($e$.$g$.$ tutition, care for disabled child or parent$)$

$3.$ Emergency fund needed $(6$ months of living expenses$)$

$4.$ Expected funeral expenses

$5.$ Total estimate of family's financial needs $($sum of lines $1-4)$

$6.$ Total liquid assets $($e$.$g$.$ savings account, CDs$,$ money market funds, other life insurance, pension plan death benefits, and Social Security benefits$)$

$7.$ Life insurance needs $($total estimate of needs minus liquid assets$)$