Personal Financial Goals
Name(s): Deily Baldonado.	Date: 01/11/2024
Short Term Goals (1 year or less)
Meta	Priority	Target Date	Estimated cost
Save $5,000 for emergencies.	12 months.	January 2025	$5,000
Pay credit debt $3000.	6 months.	July 2024	$3,600
Contribute $2,000 to an investment account.	6 months.	July 2024	$2,000
Medium Term Goals (2 to 5 years)
Meta	Priority	Target Date	Estimated cost
Saving $15,000 for an education fund for my daughter.	5 years.	January 2029	$15,000
Complete $20,000 for another property.	5 years.	enero2029	$20,000
Increase the monthly contribution to the retirement plan to $500.	2 to	enero2026	$500
Long Term Goals (6 years or more)
Meta	Priority	Target Date	Estimated cost
Accumulate an investment portfolio of $100,000.	15 at	to 2039	$100.000
Pay the mortgage in full.	25 at	to 2049	$400,000
Create a retirement fund $500,000 for retirement.	32 at	to 2056	$500,000

Prepare and present your personal financial situation (Balance Sheet, Income Statement, Cash Flow and financial indicators) according to the attached file model and based on the previous goals. You must listen to the recording of the two talks of the week to have guidelines on how to carry out this base point for the rest of the objectives aimed at carrying out the Personal Financial Plan (PFP) in the course. Click on the following link to see the tables and create your cash flow and indicators:

CASH FLOW	2024
	January	February	March	April	Mayo	June	July
Initial Available	41,000	200	200	200	(69,152)	(69,152)	(69,152)
Income
Net Income (Salaries)	2,000	2,000	2,000	2,000
commissions	-			250
Fee
Rental income - Leasing
Total normal income	2,000	2,000	2,000	2,250	-	-	-	-	-	-
Normal expenses (C/p & L/P)
Payment a si mismo	100	100
Monthly rent	1,200	1,200	1,200	1,200
Public service (Utilities)	320	165	165	165
Combustible	1,500	200	200	200
Vehicle insurance	808	250	250	250
Home food	240	650	650	650
Recreation and tourism - Cinema	120	25	25	25
Restaurants and others	800	120	100	80
Hairdressing, beauty and others	520	250	200	200
Health	452	452	452	452
Medicines	60	60	60	60
Footwear	480	100	100	100
Clothes	600	120	120	120
Liquor, cigarettes and others	85		-	-
Total spends	7,185	3,592	3,522	3,502	-	-	-	-	-	-
Interest income investments		-	-	-				-	-	-
Interest income from loans to third parties		-	-	-				-	-	-
Income from sale of goods	2,400			800
Other income (Dividends)
Total other income	2,400	-	-	800	-	-	-	-	-	-
Home loan payment	68,333	68,333	68,333	68,333
Vehicle loan payment	-	120	120	120
Credit card fee payment	167	167	167	167
Personal credit fee payment	-
Payment of educational credit fee
Total loan disbursements
IRS tax payment	280	280	280	280
IRS Refund
Savings grade
Total payments	68,780	68,900	68,900	68,900	-	-	-	-	-	-
New Investments
He failed or overcame	(30,566)	(70,292)	(70,222)	(69,152)	(69,152)	(69,152)	(69,152)	-	-	-
New requirements	30,766	70,492	70,422	69,352				-	-	-
Final balance	200	200	200	200	(69,152)	(69,152)	(69,152)	-	-	-
	(1,300)	1,500	1,500	1500	-67852.3333	-67852.3333	-67852.3333	1300	1300	1300

CASH FLOW	2024
	January	February	March	April	Mayo	June	July
Initial Available	41,000	200	200	200	(69,152)	(69,152)	(69,152)
Income
Net Income (Salaries)	2,000	2,000	2,000	2,000
commissions	-			250
Fee
Rental income - Leasing
Total normal income	2,000	2,000	2,000	2,250	-	-	-	-	-	-
Normal expenses (C/p & L/P)
Payment a si mismo	100	100
Monthly rent	1,200	1,200	1,200	1,200
Public service (Utilities)	320	165	165	165
Combustible	1,500	200	200	200
Vehicle insurance	808	250	250	250
Home food	240	650	650	650
Recreation and tourism - Cinema	120	25	25	25
Restaurants and others	800	120	100	80
Hairdressing, beauty and others	520	250	200	200
Health	452	452	452	452
Medicines	60	60	60	60
Footwear	480	100	100	100
Clothes	600	120	120	120
Liquor, cigarettes and others	85		-	-
Total spends	7,185	3,592	3,522	3,502	-	-	-	-	-	-
Interest income investments		-	-	-				-	-	-
Interest income from loans to third parties		-	-	-				-	-	-
Income from sale of goods	2,400			800
Other income (Dividends)
Total other income	2,400	-	-	800	-	-	-	-	-	-
Home loan payment	68,333	68,333	68,333	68,333
Vehicle loan payment	-	120	120	120
Credit card fee payment	167	167	167	167
Personal credit fee payment	-
Payment of educational credit fee
Total loan disbursements
IRS tax payment	280	280	280	280
IRS Refund
Savings grade
Total payments	68,780	68,900	68,900	68,900	-	-	-	-	-	-
New Investments
He failed or overcame	(30,566)	(70,292)	(70,222)	(69,152)	(69,152)	(69,152)	(69,152)	-	-	-
New requirements	30,766	70,492	70,422	69,352				-	-	-
Final balance	200	200	200	200	(69,152)	(69,152)	(69,152)	-	-	-
	(1,300)	1,500	1,500	1500	-67852.3333	-67852.3333	-67852.3333	1300	1300	1300

	January 2024	February	March	April	Mayo	June	Meta
Liquidity	0.09
Total debt	114%						50%
Short term debt	57.2%						20%
Interest coverage	-2.2
Net margin	16.2%
Asset Profitability	0.5%
Working capital	$ (407,700)

Base of personal financial statements talk and homework week 2.xlsx

After you have done so, answer the following questions.

PART I:Monthly Cash Budget

The student will prepare a complete monthly cash budget for a period of at least one semester, beginning with the current month of the course, showing all sources of income, expenses and the monthly balance/deficit. You can use the third tab of the Excel file that served as a base. They must use all the rubrics provided on the worksheet. The cash accumulated each month must be correctly calculated and transferred correctly at the end of the following month. The cash budget must be in accordance with the financial goals.

PART II:Strategic plan

Based on the monthly result of the cash flow, the student must prepare a written plan on how to finance cash deficits and/or how to use financial surpluses, that is, they must prepare a strategic plan for personal or family finances, for the horizon of the projection. Additionally, the plan must include: a. Analysis of the financial situation based on adjusted financial indicators. Please use the financial indicators that you deem relevant that especially reflect your liquidity situation, profitability, efficiency in the management of your assets, and debt.

b. Based on the financial indicators from the previous point, establish the financial strategy that will allow you to improve your financial situation in the horizon of the cash flow projection: July 2015 to February 2016. For this it is very important that you understand what the meaning of each indicator and how to improve it. Listen to the talk again in which it was explained how selling unproductive assets, paying off more expensive and initially lower value liabilities, reducing unnecessary expenses and other financial strategies, can improve these indicators. You must be very clear and consistent with your own figures. It is not enough to repeat the above. The clear proposal that demonstrates the improvement of each indicator must be identified.

c. Present the financial indicators showing the formulas on the same file that you presented and deliver a word document that explains in detail the actions that will carry out your strategic plan and your personal financial plan.

PART III:Adjusted cash flow

Based on the monthly cash flow result and the strategic plan, the student must prepare the adjusted cash flow for the projection horizon. This adjusted plan must reflect a healthy liquidity balance, with eventual alarms and adjustment plans required for the projection horizon.

Answer rating: 100% (QA)

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