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Definitions,
Information and Worksheets
Spendable Income
=
The money that is available for you to spend (money left over from
all income after subtracting taxes, social security and allotments)
$Present
= routine expenses
rent, mortgage, food, cable TV, child care
This spreadsheet lets you integrate your net worth with Future,
Present, and Past expenses – and your expenses should not exceed
your income – or you are going deep into debt . (Same as Worksheet
5B1 in the PFM lesson)
Monthly Spending Plan 20070201.pdf
Monthly Spending Plan 20070201.xls
Build your budget based upon your income by the week. Great for
forecasting pay and expenses when you are paid weekly or bi-weekly.
Monthly Spending Plan in Weekly Bands 20070201.pdf
Monthly Spending Plan in Weekly Bands 20070201.xls
How far can your money go? Use this MS Excel spreadsheet and
“count-down” your money so that you do not overspend. You can list
your expenses in priority so the important items are paid for
first. (Same as Worksheet 5B2 in the PFM Lesson.)
Budget Balance Remaining Worksheet 20070201.pdf
Budget Balance Remaining Worksheet 20070201.xls
$Past = creditors
credit cards, car loans, student loans
Creditor Debt List.
Keep track of your creditors to pay them off! Who do you owe; how
much do you owe to them in total; what is the monthly amount due;
what is the annual percentage rate (APR)?
Creditor Debt List 20070201.pdf
Creditor Debt List 20070201.xls
note: “secured” debt is debt that is secured with collateral of some
kind, such as a home or car loan. This means the creditor can
repossess the asset that acts as collateral should you default on
the loan. Another example is a secured credit card: you
deposit $3,000 in an escrow account and your credit limit will be
$3,000. If you do not make payment, the financial institution
can take the $3,000 in the escrow account as payment.
The information from this spreadsheet can be used to fill in the
following:
1)Net
Worth Statement: “Other loans and notes payable “or “other
liabilities “
2)Worksheet
4B1 in Personal Financial Management (PFM) Lesson: “PowerPay”
3)Worksheet
5B1 in PFM Lesson: Monthly Spending Plan “Other Creditors”
(remember to convert to a monthly payment)
$Future = future, non-routine expenses
saving for future expenses. Pay Yourself First – Savings to Spend.
Set aside money every paycheck for future non-routine expenses:
Christmas, birthdays, anniversaries, going back to school in the
fall, and vacations. Now think big: college, retirement, long term
care, emergencies. Are all of these non-routine events (and others
you think of) stated in your budget?
Forecast your Pay Yourself First – Savings to Spend as described
above (Same as Worksheet 3B in PFM Lesson)
Yearly Spending Plan 20070201.pdf
Yearly Spending Plan 20070201.xls
Keep
track of the money in your savings account. You are putting money
away for different reasons, but your savings account just has a
total amount in the account. Use this spreadsheet to track your
money by purpose.
Savings Records Worksheet 20070201.pdf
Savings Records Worksheet 20070201.xls
Net Worth
=
the money you get to keep. Your net worth statement is your score
card on how well you’re doing in your personal finances. Your goal
is to continue to increase your net worth
( Same as Worksheet 2B in the PFM Lesson)
Net Worth Statement 20070201.pdf
Net Worth Statement 20070201.xls
This spreadsheet lets you integrate your net worth with Future,
Present, and Past expenses – and your expenses should not exceed
your income – or you are going deep into debt . (Same as Worksheet
5B1 in the PFM lesson)
Monthly Spending Plan 20070201.pdf
Monthly Spending Plan 20070201.xls
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