Using the same spreadsheet, prepare a Cash Flow Analysis for the next 12 months assuming the client
Question:
Using the same spreadsheet, prepare a Cash Flow Analysis for the next 12 months assuming the client will be prepared to follow a budget and limit her discretionary credit card spending. Recalculate the Cash Flow Analysis planning for her to stick to a credit card spend of $700 per month to determine a new surplus/deficit.
Cashflow Analysis - Before Budgeting | |
Current Amount p.a. | |
Income | |
Your Total Gross Income | $101,310* |
Your Total Tax Payable | $24,111 |
Your take home pay (Net) | $77,199 |
Other income | |
Budget Period Total | |
Expenses | |
Debt repayments | 26800 |
Mortgage / Rent | 13000 |
Credit Card repayment | 1800 |
Car Loan repayment | 4800 |
Finance loan repayments | 7,200 |
Student Loan | |
Other loan repayment | |
Budget Period Total | |
Utilities | 2380 |
Telephone, mobile & internet | 1,250 |
Electricity | 1,130 |
Water and Sewer | |
Council | |
Other utilities | |
Budget Period Total | |
Insurance Premiums | 3,100 |
Life | |
Auto | 1,200 |
Home & contents | 800 |
Health | 1,100 |
Other insurance premium | |
Budget Period Total | |
Miscellaneous | |
Petrol (automobile) | 4,800 |
Car Registration | 1,200 |
Groceries | 6,200 |
Child Care | |
Entertainment (movies dining out etc.) | 2,900 |
Clothing | 900 |
Credit Card Spending | 15,000 |
Commuting (parking etc.) | |
Charitable Contributions | |
Out-of-Pocket Medical Expenses | 1,000 |
Holidays | 3,000 |
Work Related Expenses | 1,300 |
Other miscellaneous | |
Budget Period Total | 36,300 |
Saving Plans | |
Savings & Emergency Fund | 10,000 |
Education Savings | |
Retirement (Personal Super etc.) | |
Med/LT savings plan | 5,000 |
Budget Period Total | 15,000 |
Total Expenditure Budget Period | |
Cash surplus/deficit (Income less expenses) | |
*Franking credits not included in income for cashflow as not paid to investor
BALANCE SHEET, XX June 2021 | |||
Assets | Value | Liabilities & Net Worth | Value |
Cash | $1,000 | Car Loan | $15,000 |
Vehicles | $25,000 | Finance Loan | $10,000 |
Contents | $40,000 | Credit Card Balance | $8,000 |
Balanced Fund | $5,000 | ||
Total Superannuation | $90,000 | ||
Total Assets | $161,000 | Total Liabilities | $33,000 |
Net worth | $128,000 | ||
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