Personal Information Sheet
Purpose: To provide quick reference for vital household data.
Instructions: Provide the personal and financial data requested below.
You Spouse
Name
Birthdate
Marital Status
Address
Phone
E-Mail
Social Security #
Driver's License #
Place of Employment
Address
Phone
Position
Length of Service
Checking Acct. #
Financial Institution
Address
Phone
Dependent Data
Name Birthdate Relationship Social Security #
Financial Institutions and Advisors
Name: Jerry L. Basford
Attorney Credit Card
Name Issuer
Address Address
Phone Phone
Fax Fax
E-Mail Acct. #
Exp. Date
Limit
Primary Financial Institution Credit Card
Name Issuer
Address Address
Phone Phone
Fax Fax
Checking Acct. # Acct. #
Savings Acct. # Exp. Date
Loan # Limit
Insurance (home/auto) Tax Preparer
Agent Name
Company Firm
Address Address
Phone Phone
Fax Fax
Policy # E-Mail
E-Mail
Insurance (life/health) Real Estate Agent
Agent Name
Company Company
Address Address
Phone Phone
Fax Fax
E-Mail E-Mail
Policy #
Investment Broker Investment Company
Name Name
Address Address
Phone Phone
Fax Fax
E-Mail Acct. #
Acct. # E-Mail
Web Site
Financial Documents and Records
Name: Jerry L. Basford
Safe Deposit Other
Item Home File Box (Specify)
Money Management Records
Budget, financial statements
Personal/Employment Records
Current Resume
Social Security Card
Educational Transcripts
Birth, marriage, divorce certificates
Citizenship, military papers
Adoption, custody papers
Tax Records
Financial Service/Consumer Credit
Records
Unused, cancelled checks
Savings, passbook statements
Savings certificates
Credit card information, statements
Credit contracts
Consumer Purchases, Housing, and
Automobile Records
Warranties, receipts
Owner's manual
Lease or mortgage papers, title, deed,
property tax information
Automobile title
Auto registration
Auto service record
Insurance Records
Insurance policy
Home inventory
Medical information (medical history)
Investment Records
Broker statements
Dividend reports
Stock/bond certificates
Rare coins, stamps, and collectibles
Estate Planning and Retirement
Will
Pension, social security information
Creating Your Personal Goals
Name: Jerry L. Basford
1. Evaluate your current financial situation
2. Set short-term, intermediate-term, and long-term goals
3. Before finalizing your goals, use the table titled "How Much Do You Need To Save Each Month To Meet Your Goals?"
to determine if your goals are financially realistic.
4. Once you've determined your goals are realistic, finalize them. Replace "Goal 1", "Goal 2", etc. with your goals
by typing your goals over them.
5. Rank your goals. Now that you have them on the spreadsheet, put your most important goal in each category on the
first line, your second most important goal on the second line, etc. until you are finished.
6. Review your goals annually to determine if you need to revise them.
Personal Financial Goals
Short-Term Goals Dollar Amount Date to
Financial Goal to Accomplish Accomplish By
Goal 1
Goal 2
Goal 3
Goal 4
Goal 5
Intermediate-Term Goals
Goal 1
Goal 2
Goal 3
Goal 4
Goal 5
Long-Term Goals
Goal 1
Goal 2
Goal 3
Goal 4
Goal 5
HOW MUCH DO YOU NEED TO SAVE EACH MONTH TO MEET YOUR GOALS?
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
Amount Expected Future Value
Number Future Value of $1
Required Inflation Earning Required Required .
of Years Expected of $1, Given Annuity,
if Goal Adjusted Rate on Annual Monthly
Goal Until Goal Inflation Responses Given
Was Amount Investment Savings Savings
is Rate in Columns
Achieved (3) x (5) to Achieve Responses in (6)/(8) (9)/(12)
Achieved (2) and (4) Columns (2)
Today Goal
and (7)
Example 5 $7,000 5.00% 1.2763 $8,934 8.00% $5.867 $ 1,523 $126.90
Your Goals:
1.0000 $0 $0.000 #DIV/0! #DIV/0!
1.0000 $0 $0.000 #DIV/0! #DIV/0!
1.0000 $0 $0.000 #DIV/0! #DIV/0!
1.0000 $0 $0.000 #DIV/0! #DIV/0!
1.0000 $0 $0.000 #DIV/0! #DIV/0!
1.0000 $0 $0.000 #DIV/0! #DIV/0!
1.0000 $0 $0.000 #DIV/0! #DIV/0!
1.0000 $0 $0.000 #DIV/0! #DIV/0!
1.0000 $0 $0.000 #DIV/0! #DIV/0!
Balancing Goals
Weekly Goals
Goal Date
Spiritual
Relational
Physical
Emotional
Example
Weekly Goals
Goal Date
Spiritual Spend 15 minutes each day praying, meditating or Daily
planning
Relational Have date night every Friday with my spouse Friday 8/17
Take the kids to a ball game Saturday 8/18
Physical Work out 30 minutes a day Daily
Emotional Read an uplifting book
Creating Your Income Statement
and Balance Sheet
Name: Jerry L. Basford
Personal Balance Sheet
February
2007
Assets
Liquid Assets $ Amount % of Total
Cash #DIV/0!
Checking account #DIV/0!
Savings account #DIV/0!
Other liquid assets #DIV/0!
Total liquid assets $0 #DIV/0!
Household Assets
Home #DIV/0!
Car #DIV/0!
Furniture #DIV/0!
Other household assets #DIV/0!
Total household assets $0 #DIV/0!
Investment Assets
Stocks $0 #DIV/0!
Bonds #DIV/0!
Mutual Funds #DIV/0!
Other investments #DIV/0!
Total investment assets $0 #DIV/0!
Real Estate
Residence #DIV/0!
Vacation home #DIV/0!
Other #DIV/0!
Total real estate $0 #DIV/0!
Total Assets $0 #DIV/0!
Liabilities and Net Worth
Current Liabilities
Loans #DIV/0!
Credit card balance #DIV/0!
Other current liabilities #DIV/0!
Total current liabilities $0 #DIV/0!
Long-Term Liabilities
Mortgage #DIV/0!
Car loan #DIV/0!
Other long-term liabilities #DIV/0!
Total long-term liabilities $0 #DIV/0!
Total Liabilities $0 #DIV/0!
Net Worth $0
Creating Your Income Statement
and Balance Sheet
Name: Jerry L. Basford
Personal Income and Expense Statement
for the month of
February
2007
Cash Inflows (Revenues) Budget Actuals Variance Budget 2005
Gross Income $ - Entertainment/School
Subscriptions/Books 0%
Total Cash Inflows $ - $ - $ - 0%
Vehicles
Clothes/Misc.
Cash Outflows (Expenses) 0% 0%
Taxes - Donations
Medical/Insurance
Grooming/Toiletries
CreditFood Pets
Cards/Loans
Taxes
Savings
House/Utilities
0%
0%
0% 0%
0%
0%
0%0% 0%
Savings -
Donations -
Food -
Credit Cards/Loans -
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total Cash Outflows $ - $ - $ -
Net Cash Flows $0 $0 $ -
Creating Your Income Statement
and Balance Sheet
Actual 2005
Entertainment/School
Subscriptions/Books 0%
0%
Clothes/Misc.
Vehicles
0% 0%
House/Utilities
Medical/Insurance
Cards/Loans
Credit Taxes
Savings
Grooming/Toiletries
Pets
Food
Donations
0% 0%
0%
0%
0% 0%
0%
0%
My Day-to-Day Expenses
Date Expense Cash/check Charge
Finding a Financial Planner
Checklist for Interviewing a Financial Planner
Planner Name:
Company:
Address:
Phone:
Date of Interview:
Do you have experience in providing advice on the
topics below? If yes, indicate number of years
Retirement planning
Investment planning
Tax planning
Estate planning
Insurance planning
Integrated planning
Other
What are your areas of specialization?
What qualifies you in this field?
How long have you been offering financial advice
to clients?
Less than one year
One to four years
Five to ten years
More than ten years
How many clients do you currently have?
Less than ten clients
10 to 39
40 to 79
80 +
Briefly describe your work history
What are your education qualifications?
Finding a Financial Planner
Checklist for Interviewing a Financial Planner
Give area of study
Certificate
Undergraduate degree
Advanced degree
Other
What financial planning designation(s) or certification(s)
do you hold?
Certified Financial Planner certification
Certified Public Accountant
Chartered Financial Consultant
Other(s)
What financial planning continuing education requirements do you fulfill?
hours every
What licenses do you hold?
Insurance
Securities
CPA
J.D.
Other
Are you personally licenses or registered as an Investment Adviser with the
State(s)?
Federal Government?
Is your firm licensed or registered as an investment Advisor with the:
State(s)?
Federal Government?
If not, why not?
Will you provide me with your disclosure document Form ADV Part II or its
equivalent?
◦ Yes
◦ No
If no, why not?
What services do you offer?
Finding a Financial Planner
Checklist for Interviewing a Financial Planner
Describe your approach to financial planning.
Who will work with me?
Planner
Associate(s)
Will the same individual(s) review my financial situation?
Yes
No
If no, who will?
How are you paid for your services?
Fee
Commission
Fee and commission
Salary
Other
What do you typically charge?
a. Fee:
Hourly rate
Flat fee (range) to
Percentage of assets under management: percent
b. Commission:
What is the approximate percentage of the investment or premium you
receive on:
stocks and bonds
mutual funds
annuities
products
other
Do you have a business affiliation with any company whose products or
services you are recommending?
Yes
No
Explain:
Is any of your compensation based on selling products?
Yes
No
Explain:
Finding a Financial Planner
Checklist for Interviewing a Financial Planner
Do professionals and sales agents to whom you may refer me send
business, fees, or other benefits to you?
Yes
No
Explain:
Do you have an affiliation with a broker/dealer?
Yes
No
Are you an owner of, or connected with, any other company whose services
or products I will use?
Yes
No
Explain:
Do you provide a written client engagement agreement?
Yes
No
If no, why not?
Withdrawal Deposit
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List Checks Outstanding Not Charged to Your Checking Account
Check # Amount Check # Amount Check # Amount For Period Ending
January 1, 2005
1. Subtract from your check register any checks listed
on this checking statement which you have not previously
deducted from your balance. Also add any dividends.
2. Enter checking balance
shown this statement here
3. Enter
deposits
made later than
the ending date
of this statement
TOTAL (2 Plus 3) $ -
4. In your check register check
off all checks paid and in area
provided at left list numbered and
amounts of all unpaid checks
TOTAL -
5. Subtract total
checks outstanding $ -
6. This amount should equal
your check register balance $ -
Determining Time Value of Money
Goals
1. Determine how much savings you will accumulate by various future
points in time.
2. Estimate how much you will need to save each year in order to achieve
the goals you have set.
Analysis
1. For each goal you set previously, make three calculations using an
interest rate that you believe you can earn on your invested savings
and one higher and one lower than that rate.
Time Value of Money
Most Likely Pessimistic Optimistic
Future Value of a Present Amount Scenario Scenario Scenario
Present Value
Number of Periods
Interest Rate per Period
Future Value
Future Value of an Annuity `
Payment per Period
Number of Periods
Interest Rate per Period
Future Value
Present Value of a Future Amount
Future Amount
Number of Periods
Interest Rate per Period
Present Value
Present Value of an Annuity
Payment per Period
Number of Periods
Interest Rate per Period
Present Value
Creating Your Own Personal Financial Plan
Goals
1. Reduce taxable income (thereby reducing taxes paid) to the extent allowable by the IRS.
2. Reduce taxes paid by deferring income.
Analysis
1. Use the template below to estimate your federal income tax liability based on the 2002 guidelines
presented in the text or current tax regulations and rates. Make sure you make changes when using
this template in future years. The changes you need to make are on the "Comments" worksheet.
Select (x) one of the following as your Filing Status:
Single
Married, Filing Joint Return
Married, Filing Separate Return
Head of Household
Qualifying Widow(er) with Dependent Child
Your status will determine how you compute your taxes, as shown in Exhibit 4.6 in the text.
Gross Income Computation:
Salary (After Retirement Contribution)
Interest Income
Dividend Income
Long-term Capital Gain
Short-term Capital Gain
Gross Income $ -
Standard Deduction (Refer to Exhibit 4.4 in text)
Itemized Deductions
Medical Expenses
Minus .075 x Gross Income $ -
Deductible Medical Expenses $ -
State Income Taxes
Real Estate Taxes
Interest Expense
Charitable Donations
Total Itemized Deductions $ -
Larger of the Total Itemized Deductions or Standard Deduction $ -
Exemptions $3,000 X (number of exemptions) $ -
Taxable Income (Gross Income – Deductions and Exemptions) $ -
Tax Liability (Refer to Comments Sheet in this spreadsheet) $ -
Capital Gains Tax
Long-term Capital Gains $ -
Long-term Capital Gains Tax Rate (From Comments Sheet) 10%
Capital Gain Tax $0
Your Total Tax Liability (capital gains tax plus tax liability) $0
Chapter continued on next worksheet.
Creating Your Own Personal Financial Plan
Analysis (cont.)
2. For each of the goals you established in Chapter 1, indicate tax advantage options that may
enable you to increase your deductions and/or reduce your gross income.
Personal Financial Goals
Tax
Dollar Rate of Priority Advantage
Financial Goal Amount (Low, Options
Return Medium, High)
1. 0 #REF! #REF! #REF!
2. 0 #REF! 0.00% #REF!
3. 0 #REF! 0.00% #REF!
4. 0 #REF! 0.00% #REF!
5. 0 #REF! 0.00% #REF!
Long-Term Goals
1. 0 $0 0.00% #REF!
2. 0 0 0.00% #REF!
3. 0 0 0.00% #REF!
4. 0 0 0.00% #REF!
5. 0 0 0.00% #REF!
2. If you are considering hiring a tax preparer, use the following questions
as an interview guide to screen candidates.
1. How long have you been preparing tax returns?
2. What training have you had in the preparation of tax returns?
College degrees earned:
Tax training courses:
Certifications:
3. How long have you worked for this organization?
4. Do you carry professional liability insurance?
5. Is this your full-time job?
6. If I am audited, are you authorized to represent me
before the IRS?
7. How many hours of continuing professional education are you required
to have each year to maintain your employment?
8. How many tax returns do you prepare a year?
9. What type of software does your firm use to prepare
returns?
Creating Your Own Personal Financial Plan
10. What percentage of the returns done by you have
been audited?
Decisions
1. Describe the actions you will take to achieve tax savings (i.e., increasing
deductions or reducing gross income) in the present year.
2. Detail the means by which you will reduce your tax liability (i.e., increasing
deductions or reducing gross income) in the future.
Marginal and Average Tax Rates
Name: Jerry L. Basford
Your Marginal Tax Rate Yours Example
Fica Taxes 7.65%
Marginal federal income tax rate 28.00%
Marginal state income tax rate 7.00%
Total Marginal Tax Rate 0.00% 42.65%
How much must you earn to have $1 of after-tax income?
(Divide $1 by (1 - total marginal tax rate)) $ 1.00 $ 1.74
How much must you earn to have $1 of after-tax expenditure?
Sales Tax rate 8.00%
Divide Line 1 by (1- sales tax) $ 1.00 $ 1.90
Creating Your Own Personal Financial Plan
Goals
1. Identify the banking services that are most important to you.
2. Determine which financial institution will provide you with the best banking services.
Analysis
1. Evaluate what banking services are most important to you with a score of "10" for the
most important and "1" for the least. Then evaluate five financial institutions with respect
to the services offered; rate the institutions from "5" as the best for that service to "1" as the
worst. The template will calculate scores for each institution.
Banking Services Scorecard
COMMERCIAL: BANK SAVINGS INSTITUTION CREDIT UNION INSTITUTION 4 INSTITUTION 5
SERVICES OFFERED PRIORITY RANKING SCORE RANKING SCORE RANKING SCORE RANKING SCORE RANKING SCORE
1. Hours of operations -
evenings, Saturdays 0 0 0 0 0
2. Locations - proximity to
work and home 0 0 0 0 0
3. Fees/Minimum balance
for checking accounts 0 0 0 0 0
4. Fees for ATM usage 0 0 0 0 0
5. Interest rate on savings
accounts 0 0 0 0 0
6. Interest rate on checking
accounts 0 0 0 0 0
7. VISA/Master Card
available and annual fee 0 0 0 0 0
8. Interest rate on home
loans 0 0 0 0 0
9. Interest rate on car
loans 0 0 0 0 0
10. Safety deposit boxes
and rental rates 0 0 0 0 0
TOTAL SCORE FOR
EACH INSTITUTION 0 0 0 0 0
Chapter continued on next worksheet.
Creating Your Own Personal Financial Plan
2. In the chart below, enter the amount of money you currently have on deposit or would like to have on
deposit next to the appropriate depository account. After you have done this, go the the Web site of two
financial institutions and find the interest rates currently being paid for each of type of account selected
and compare the annual returns.
Institution 1 Institution 2
Account Type Amount Interest Total Annual Interest Total Annual
on Deposit Rate Return Rate Return
Checking Account $ - $ -
NOW Account - -
Savings Deposit - -
CD-6 months - -
CD-12 months - -
CD-18 months - -
CD-24 months - -
CD-36 months - -
CD-48 months - -
CD-60 months - -
Money Market Deposit Account - -
Return Comparison
Money Market Deposit Account
CD-60 months
CD-48 months
CD-36 months
CD-24 months
CD-18 months
CD-12 months
CD-6 months
Savings Deposit
NOW Account
Checking Account
$- $0.20 $0.40 $0.60 $0.80 $1.00
Institution 2 Institution 1
List Checks Outstanding Not Charged to Your Checking Account
Check # Amount Check # Amount Check # Amount For Period Ending
June 23, 2003
1. Subtract from your check register any checks listed
on this checking statement which you have not previously
deducted from your balance. Also add any dividends.
2. Enter checking balance
shown this statement here
3. Enter
deposits
made later than
the ending date
of this statement
TOTAL (2 Plus 3) $ -
4. In your check register check
off all checks paid and in area
provided at left list numbered and
amounts of all unpaid checks
TOTAL -
5. Subtract total
checks outstanding $ -
6. This amount should equal
your check register balance $ -
Decisions
1. Describe the services and characteristics that are of most importance to you about a financial institution.
2. Which of the financial institutions you evaluated is most optimal for your needs? Why?
Creating Your Own Personal Financial Plan
Goals
1. Maintain sufficient liquidity to ensure that all your anticipated bills are paid on time.
2. Maintain sufficient liquidity so that you can cover unanticipated expenses.
3. Invest any excess funds in deposits that offer the highest return while ensuring
liquidity.
Analysis
1. Review the cash flow statement you prepared in Chapter 3 and assess your liquidity.
Click here to go to the Cash Flow Statement
2. Evaluate the short-term goals you created in Chapter 1 as high, medium, or low with
respect to liquidity, risk, fees/minimum balance, and return.
Short-term Goal Prioritization of Factors
FEES/MINIMUM
SHORT-TERM GOAL LIQUIDITY RISK BALANCE RETURN
0
0
0
0
0
3. Rank each of the money market investments as good, fair, or poor with respect to liquidity, risk,
fees/minimum balance, and return.
FEES/MINIMUM
MONEY MARKET INVESTMENT LIQUIDITY RISK BALANCE RETURN
Checking Account
NOW Account
Savings Account
Money Market Deposit Account
(MMDA)
Certificate of Deposit
Treasury Bill
Money Market Fund
Asset Management Account
Decisions
1. Describe how you will ensure adequate liquidity to cover anticipated expenses.
2. Detail how you will ensure liquidity to meet unanticipated expenses.
3. Explain which money market investments will be most effective in reaching your
short-term goals.
Understanding Your Credit Charges
Loan or Line of Credit APR
Home Mortgage (tax advantaged)
Home Equity Loan (tax advantaged)
Student Loan (tax advantaged)
Unsecured Personal Loan
Personal Auto Loan
List all credit and store cards:
Create Your Own Personal Financial Plan
Obtain a copy of your credit report from www.transunion.com or www.creditbase.com,
scrutinize the report, and report any inaccuracies to the credit bureaus.
www.equifax.com
www.experian.com
www.transunion.com
2. Using the MSN homepage, determine your overall creditworthiness. At www.msn.com, click on
the tab entitled ―Money‖ and then click on ―Planning.‖ When the ―Savings and Debt Management‖
page comes up, go to the section entitled ―Debt Evaluator‖ and follow the instructions.
www.msn.com
3.Referring to your personal cash flow statement, determine how much excess cash inflows
you have each month. Based on this amount, set a self-imposed credit limit each month so that
you can pay your balance off in full. If you have existing credit card debt, use the template below to
determine how many months it will take to pay off your balance at three different monthly payment
amounts. Revise your cash flow statement based on your decisions.
Click here to go to the Cash Flow Statement
Alternative 1 Alternative 2 Alternative 3
Credit Card Debt
Monthly Payment
Interest Rate per Year
Months to Pay off Debt - - -
4. Use the following template to select a credit card with favorable terms.
Rate the cards from five being the best in an area to one being the worst.
Create Your Own Personal Financial Plan
Bank Credit Card Scorecard
CREDIT CARD ISSUER
QUESTION 1 2 3 4 5
1. Annual fee
2. Interest rate on
purchases
3. Interest rate on cash
advances
4. Transaction fee for
cash advances
5. Insurance on
purchases
6. Credit earned toward
purchases at selected
businesses
7. Frequent flyer miles
8. Free delivery on mail
order purchases
9. Phone card capability
10. Credit limit available
11
12
13
14
15
TOTAL 0 0 0 0 0
Stocks at Credit Card at
12% 18%
Beginning Balance $3,000.00 $3,000.00
Year 1 $3,360.00 $3,540.00
Year 2 $3,763.20 $4,177.20
Year 3 $4,214.78 $4,929.10
Year 4 $4,720.56 $5,816.33
Year 5 $5,287.03 $6,863.27
Year 6 $5,921.47 $8,098.66
Year 7 $6,632.04 $9,556.42
Year 8 $7,427.89 $11,276.58
Year 9 $8,319.24 $13,306.36
Year 10 $9,317.54 $15,701.51
How Many Monthly Payments You'll Need to Kill Your Debt
This table can help you get a rough sense of how long it will take you to get rid of your credit
card debt entirely, regardless of how much you have. Here's how it works: Look down the
far-left column and ask yourself what percentage of your debt you can comfortably commit
to pay off each month. If, for example, you have $1,000 in debt, you may decide that you
can pay of 3% of $1,000, or $30, every month until the balance is completely wiped out.
Now look across the top row and find the annual interest rate charged by your credit card.
Say it's 18%. The point at which 3% intersects with 18% is the number of months it will take
you to pay off your debt. In this case, the answer is 47 months. But if you're able to
refinance that debt witha credit card taht charges only a 10% annual rate, the number of
monthly payments you'd make would be 39.
Annual Interest Rate
8% 10% 12% 14% 16% 18%
Payment as a % of Initial Debt
2% 61 65 70 75 83 93
3% 38 39 41 42 44 47
4% 27 28 29 30 31 32
5% 21 22 22 23 23 24
10% 10 10 11 11 11 11
15% 7 7 7 7 7 7
20% 5 5 5 5 5 5
25% 4 4 4 4 4 4
Source: AT&T Universal Card Services.
Your Personal Financial Plan
Planning for Replacement Cost of Consumer Durables
Concern 2005 2006 2007 2008 2008 2009 2010
Household Goods:
Automobiles:
Total Annual Net
Replacement Cost $ - $ - $ - $ - $ - $ - $ -
Comparison of Automobile Costs
Name: Jerry L. Basford
Auto 1 Auto 2
Insurance $ - $ -
License, Registration, Taxes - -
Depreciation - -
Finance Charges - -
Other Ownership Cost - -
Total Cost of Ownership $ - $ -
Cost of Operation
Annual Miles Driven - -
MPG - -
Total Gallons of Gasoline
Average Price per Gallon $ - $ -
Cost of Gasoline
Oil, Maintenance and Tires - -
Other Operating Costs - -
Total Cost of Operation
Total Cost of Ownership $ - $ -
Total Cost of Operation
Total Cost of Ownership and Operation #VALUE! #VALUE!
Total Cost Per Mile #VALUE! #VALUE!
Ownership Cost Per Mile #DIV/0! #DIV/0!
Operating Cost Per Mile #VALUE! #VALUE!
Analysis of Debt Ratios
Name: Jerry L. Basford
(1) (2) (3) (4)
Amount Monthly Monthly Monthly
Payment Interest Principal
Repayment
Short-term debt
Credit card #1 $ - $ - $ - $ -
Credit card #2 - - - -
Credit card #3 - - - -
Credit card #4 - - - -
Car loan #1 amount due in one year - - - -
Car loan #2 amount due in one year - - - -
Car loan #3 amount due in one year - - - -
Installment loan #1 amount due in one year - - - -
Installment loan #2 amount due in one year - - - -
Other short-term debt - - - -
_________________ - - - -
_________________ - - - -
Total short-term debt (A) $ - $ - $ - $ -
Long-term debt
Car loan #1 amount due beyond one year $ - $ - $ - $ -
Car loan #2 amount due beyond one year - - - -
Car loan #3 amount due beyond one year - - - -
Installment loan #1 amount due beyond one year - - - -
Installment loan #2 amount due beyond one year - - - -
First mortgage--primary residence $ - $ - $ - $ -
First mortgage--secondary residence - - - -
Home equity loan - - - -
Loan secured by retirement account $ - $ - $ - $ -
Loan secured by insurance policy - - - -
Broker's loan on margin account - - - -
Other long-term debt: - - - -
_________________ - - - -
_________________ - - - -
_________________ - - - -
Total long-term debt (B) $ - $ - $ - $ -
Total debt (C) $ - $ - $ - $ -
Total monthly payments $ -
Annual payments (D) $ -
List:
Expected income over next 12 months $ -
Expected Taxes $ -
Expected income minus expected taxes (E) $ -
Total assets (F) $0
Liquid assets (G) $0
Debt Analysis Ratios
1. Liquid assets to take-home pay = G/E #DIV/0!
Evaluate
2. Liquidity Ratio: Liquid assets to current liabilities = G/A #DIV/0!
Evaluate
3. Debt Ratio:Total liabilities to total assets = C/F #DIV/0!
Evaluate
4. Debt service coverage = E/D(col 2) #DIV/0!
Evaluate
Buy Vs. Finance Your Car
(Complete highlighted cells only!!)
Cash Purchase Example Your Car
Line 1 Negotiated sales price $ 25,000
Line 2 Divide Negotiated sales price by 1,000 25
Line 3 Savings rate (the interest rate you could earn on $) 3.5%
Line 4 Number of years financed 4 0
(How many months would you
finance if you had financed instead?
Make sure this number matches line 21 below 48
Line 5 Savings factor
(Insert value from Savings Factor chart, below,
where your interest rate intersects with the
number of months you would finance.) 1150.04
Line 6 Multiply line 2 by line 5 $ 28,751
Line 7 Interest income lost by using cash to buy car
(Line 6 - Line 1) $ 3,751
Line 8 Your income-tax rate 27%
Line 9 Taxes on interest income (Line 7 x Line 8) $ 1,013
Line 10 Total income forsaken (Line 7 - Line 9) $ 2,738
Total Cash Cost (Line 1 + Line 10) $ 27,738
Savings Factor Chart
Interest Rate
1.50% 2.00% 2.50% 3.00% 3.50% 4.00%
12 1015.10 1020.18 1025.29 1030.42 1035.57 1040.74
24 1030.44 1040.78 1051.22 1061.76 1072.40 1083.14
# of Months Financed
36 1046.00 1061.78 1077.80 1094.05 1110.54 1127.27
48 1061.80 1083.21 1105.06 1127.33 1150.04 1173.20
60 1077.83 1105.08 1133.00 1161.62 1190.94 1221.00
72 1094.11 1127.38 1161.65 1196.95 1233.30 1270.74
Finance Purchase Example Your Car
Line 11 Negotiated sales price (same as line 1, above) $ 25,000
Line 12 Down payment 2,500
Line 13 Divide down payment by 1,000 2.5
Line 14 Multiply Line 13 by Line 5 $ 2,875
Line 15 Interest income lost by using down payment
(Line 14- Line 12.) $ 375
Line 16 Taxes on interest income (Line 15 x Line 8) $ 101
Line 17 Total income forsaken (Line 15 - Line 16) $ 274
Monthly payments
Line 18 Financed amount (Line 11 - Line 12.) 22,500
Line 19 Divide finance amount by 1,000 22.5
Line 20 Interst rate on car loan 2.90%
Line 21 Number of months financed (from line 4, above) $ 48
Line 22 Money factor
(Insert value from chart where Interest Rate
intersects Number of months financed.) $ 22.09
Line 23 Monthly payment (Line 22 x Line 19.) $ 497
Line 24 Total of all payments (Line 23 x Line 21.) $ 23,857
Total Finance Cost (Line 12 + Line 17 + Line 24) $ 26,631
Money Factor Chart
Interest Rate
0.9% 1.9% 2.9% 3.9% 4.9% 5.9%
12 83.74 84.19 84.65 85.1 85.56 86.02
24 42.06 42.5 42.94 43.38 43.83 44.28
# of Months Financed
36 28.16 28.6 29.04 29.48 29.93 30.38
48 21.22 21.65 22.09 22.53 22.98 23.44
60 17.05 17.48 17.92 18.37 18.86 19.29
72 14.27 14.71 15.15 15.6 16.06 16.53
Your Car
$ -
0
0.0%
0
0
$ -
$ -
0%
$ -
$ -
$ -
4.50% 5.00%
1045.94 1051.16
1093.99 1104.94
1144.25 1161.47
1196.81 1220.90
1251.80 1283.36
1309.30 1349.02
Your Car
$ -
-
$ -
$ -
$ -
$ -
-
-
$ -
$ -
$ -
$ -
6.9% 7.9%
86.48 86.94
44.73 45.18
30.83 31.29
23.9 24.37
19.75 20.23
17 17.48
Purchase With Rebate vs. 0% Financing To determine the m
(Complete highlighted cells only!!) the fol
Purchase With Rebate Example Your Car
Negotiated sales price $ 13,230
Manufacturer's rebate 2,000
Adjusted cost 11,230 -
Down payment $ 2,000
Net cost 9,230 -
Monthly payment-complete form at right
(2.9% for 36 months) 268 -
Total of all monthly payments 9,648
Total Cost of Purchase with Rebate $ 11,648 $ -
0% Finance Example Your Car
Negotiated sales price $ 13,230
Manufacturer's rebate -
Adjusted cost 13,230 -
Down payment $ 2,000
Net cost 11,230 -
Monthly payment-complete form at right
(0% for 36 months) 312 -
Total of all monthly payments 11,230 -
Total Cost of 0% Financing $ 13,230 $ -
Total Cost of 0% Financing
In the short term it is better to get 0% financing
Monthly savings
(Difference between monthly amounts) $ 44 $ -
In the long term it is better to purchase with rebate
Savings over life of the loan
(Monthly savings x loan term) $ 1,582 $ -
To determine the monthly payment complete
the following table:
Terms/Assumptions
Principal balance (net cost) 9,230
Interest rate 2.90%
Number of payments 36
Calculated payment: 268.01
Terms/Assumptions
Principal balance (net cost) 11,230
Interest rate 0.00%
Number of payments 36
Calculated payment: 311.94
Loan Evaluation
Loan One
DESCRIPTION OF ADVANTAGES OF DISADVANTAGES OF
LOAN SOURCES FOR LOAN SOURCE SOURCE
1.
2.
3.
Loan Two
DESCRIPTION OF ADVANTAGES OF DISADVANTAGES OF
LOAN SOURCES FOR LOAN SOURCE SOURCE
1.
2.
3.
Loan Three
DESCRIPTION OF ADVANTAGES OF DISADVANTAGES OF
LOAN SOURCES FOR LOAN SOURCE SOURCE
1.
2.
3.
Loan Four
DESCRIPTION OF ADVANTAGES OF DISADVANTAGES OF
LOAN SOURCES FOR LOAN SOURCE SOURCE
1.
2.
3.
Decisions
1. Report how much you can afford to spend each month on personal loans.
2. Report which lenders you may consider using in the future and why.
3. For your needs, is purchasing or leasing a vehicle a better choice?
Cost of Purchasing Versus Leasing a Car
Cost of Purchasing the Car Example To determ
Down payment/trade -in/rebate $5,000
Interest rate 5.250%
Number of months 48
Annual forgone interest on down payment $ 1,050.00
Monthly payment on car loan 578.57
Total monthly payments 27,771.26
Total cost of purchasing $ 33,821.26
Expected amount to be received when car is sold 12,000.00
Total cost of purchasing $ 21,821.26
Cost of Leasing the Car
Security deposit $5,000
Forgone interest $ 1,050.00
Monthly lease payments $396.00
Total monthly payments 19,008.00
End of lease payment (if applicable) 1,500.00
Total cost of leasing $ 26,558.00
Cost of Purchasing Vs. Leasing
$21,821.26 $26,558.00
$30,000.00
$20,000.00
$10,000.00
$-
1
Total cost of purchasing Total cost of leasing
easing a Car
To determine the monthly payment complete
the following table:
Terms/Assumptions
Principal balance (price of car - downpayment) 25,000
Interest rate 5.25%
Number of payments 48
Calculated payment: 578.57
How Much House Can You Afford?
Name: Jerry L. Basford
1. Annual gross income $75,600.00
2. Monthly gross income $6,300
Housing Expense Test
3. Housing expense-to-income ratio 28%
4. Allowable housing expenditure $1,764
5. Estimated nonmortgage housing payment 340
6. Affordable monthly mortgage payment under housing $1,424
expense test
Debt Repayment Test
7. Debt repayment-to-income ratio 36%
8. Allowable debt payment $2,268
9. Monthly installment debt and alimony $474
10. Total nonmortgage expense and installment $814
debt repayment
11. Affordable monthly mortgage payment $1,454
under debt repayment test
Your Affordable Home Purchase
12. Affordable monthly mortgage $1,424
(lesser of Line 11 or Line 6)
** Contract rate on home mortgage 0.08
** Duration of loan (months) 360.00
13. Monthly payment per $1,000 mortgage $7.34
14. Your affordable mortgage $194,068
15. Fractional amount borrowed 0.80
16. Your affordable home purchase $242,585
Required Down Payment $48,517
Estimate of Closing Cost (Buyer)
Name:
Item Amount
Appraisal $ -
Attorney's fees
Credit Report
Down payment
Flood Zone Determination Fee
Initial mortgage payment
Inspections of property
Interest points charged by the lender
Loan assumption fee
Loan origination or discount fees
Prepaid homeowner's insurance for first year
Prepaid mortgage insurance
Property survey
Prorated property taxes
Recording fees
State and local closing taxes and fees
Title Search and insurance
Other closing costs
Amount needed at closing $ -
Creating Your Own Personal Financial Plan
Goals
1. Limit the amount of mortgage financing to an affordable level; determine if homeownership
or renting is better financially.
2. Select the shortest loan maturity with affordable monthly payments.
3. Select the mortgage loan type (fixed or adjustable rate) that is most likely to result in
the lowest interest expenses.
Analysis
1. The amount of house that a person can afford is affected by many factors. The templates
below will help you to determine the impact of interest rates, term of loan, and loan type
(i.e., fixed or adjustable rate) on this process. Go to the Web site www.lendingtree.com. Click
on ―Calculators‖ located under "Mortgage Services" near the bottom of the screen. Referring to
your personal cash flow statement developed in Chapter 2, use the amount that you determined
is available for rent as the basis for the amount of house payment that you can afford each month.
By using trial and error on the adjustable and fixed mortgage loan calculators, adjust the amount of
mortgage either up or down until the ―monthly payment‖ approximately equals the amount you
determined for rent in your cash flow statement. Enter the amount of the mortgage that you
can afford in the templates below as well as the amount of the down payment that you have
or expect to have when you purchase a house. Repeat the process using the other interest
rates and mortgage terms indicated in the worksheets. Remember: Maintain the same
―number of months between adjustments,‖ ―expected adjustments‖ and ―interest rate cap‖ for
each of the adjustable-rate calculations.
www.lendingtree.com
Fixed Rate
Interest Rate 6%
Term 30 Years
Amount of Down Payment
Amount of Mortgage
Total Price of House (Down Payment Plus Mortgage) $ -
Interest Rate 7%
Term 30 Years
Amount of Down Payment
Amount of Mortgage
Total Price of House (Down Payment Plus Mortgage) $ -
Interest Rate 8%
Term 30 Years
Amount of Down Payment
Amount of Mortgage
Total Price of House (Down Payment Plus Mortgage) $ -
Creating Your Own Personal Financial Plan
Interest Rate 6%
Term 15 Years
Amount of Down Payment
Amount of Mortgage
Total Price of House (Down Payment Plus Mortgage) $ -
Interest Rate 7%
Term 15 Years
Amount of Down Payment
Amount of Mortgage
Total Price of House (Down Payment Plus Mortgage) $ -
Interest Rate 8%
Term 15 Years
Amount of Down Payment
Amount of Mortgage
Total Price of House (Down Payment Plus Mortgage) $ -
Adjustable Rate
Starting Interest Rate 6%
Term 15 Years
Months Between Adjustments (not to exceed 12 months)
Expected Adjustment
Interest Rate Cap
Amount of Down Payment
Amount of Mortgage
Total Price of House (Down Payment Plus Mortgage)
Starting Interest Rate 7%
Term 15 Years
Months Between Adjustments (not to exceed 12 months)
Expected Adjustment
Interest Rate Cap
Amount of Down Payment
Amount of Mortgage
Total Price of House (Down Payment Plus Mortgage)
Starting Interest Rate 8%
Term 15 Years
Months Between Adjustments (not to exceed 12 months)
Expected Adjustment
Interest Rate Cap
Amount of Down Payment
Amount of Mortgage
Total Price of House (Down Payment Plus Mortgage)
Creating Your Own Personal Financial Plan
Starting Interest Rate 6%
Term 30Years
Months Between Adjustments (not to exceed 12 months)
Expected Adjustment
Interest Rate Cap
Amount of Down Payment
Amount of Mortgage
Total Price of House (Down Payment Plus Mortgage)
Starting Interest Rate 7%
Term 30 Years
Months Between Adjustments (not to exceed 12 months)
Expected Adjustment
Interest Rate Cap
Amount of Down Payment
Amount of Mortgage
Total Price of House (Down Payment Plus Mortgage)
Starting Interest Rate 8%
Term 30 Years
Months Between Adjustments (not to exceed 12 months)
Expected Adjustment
Interest Rate Cap
Amount of Down Payment
Amount of Mortgage
Total Price of House (Down Payment Plus Mortgage)
Chapter continued on next worksheet.
he amount of
Creating Your Own Personal Financial Plan
2. At www.msn.com, search listings of homes for sale in your price range by clicking on
―House and Home‖ on the right side of the screen and then on ―Buying a House.‖ Complete the
information requested under ―‖Compare and Find Homes‖ to research cities and neighborhoods you
are interested in. Record information on homes of interest below.
www.msn.com
From To
Price Range:
Zip Code:
Potential Homes
MSN PRICE MONTHLY
ADDRESS LIST PRICE ESTIMATE PAYMENT REALTOR
3. Referring to your cash flow statement and personal balance sheet, compare the monthly payment estimates to the
amount of money you are currently paying for rent. Determine the amount of a down payment you can afford to make.
Click here to see cash flow statement
Click here to see personal balance sheet Down payment
4. At www.msn.com, click on ―House and Home‖ on the right side of the screen and the on
―Research Online Loans‖ at the lower left side of the page. Gather current information on loan
rates and record it below.
www.msn.com
Mortgage Type Rate
5. Create an amortization table for the fixed-rate mortgage that is most affordable. (The template will calculate
the monthly payment based on your input.)
Loan Amount
Number of Years
Annual Interest Rate
Monthly Payment $ -
Amortization Schedule for Year 1
Monthly Payment Payment Principal Interest Balance
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
Creating Your Own Personal Financial Plan
Compare the allocation of principal versus interest paid per year on the loan.
Amortization Schedule (Annual Totals)
Total
Annual Payments Payments Principal Interest Balance
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
0 $0.00 $0.00 $0.00 $0.00
Principle Vs. Interest Allocation
$1.00
$0.90
$0.80
$0.70
$0.60
Principal
$0.50
Interest
$0.40
$0.30
$0.20
$0.10
$0.00
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29
Years
Chapter continued on next worksheet.
Creating Your Own Personal Financial Plan
6. Select the mortgage with the best terms. Compare the cost of buying a home with these mortgage terms
to renting over a 3-year period.
Renting Versus Owning a Home
Cost of Renting Amount Total over
Per Month Per Year Three Years
Rent $ - $ -
Renter's Insurance 0
Opportunity cost of security deposit 0
Total cost of renting $ - $ -
Cost of Purchasing Amount Total over
Per Month Per Year Three Years
Mortgage payment $ - $ -
Down payment 0
Opportunity cost of down payment 0
Property taxes 0
Home insurance 0
Closing costs 0
Maintenance costs 0
Total costs before tax benefits $ -
Tax savings on:
Interest payments
Property taxes 0
Points (first year only) 0
Total tax savings $ -
Equity investment
Increase in home value
Value of equity $ -
Cost of purchasing home over three years $ -
Creating Your Own Personal Financial Plan
Cost of Renting Vs. Purchasing Home
$1
$1
$1
$1
Cost of Renting
$1
Cost of Purchasing
$1
$0
$0
$0
$0
$-
Decisions
1. What is the mortgage amount and down payment that you can afford?
2. Is a fixed-rate or adjustable-rate mortgage better suited to your financial situation? What
maturity, interest rate, and monthly payment can you afford?
3. Describe whether homeownership or renting is preferable for you.
Creating Your Own Personal Financial Plan
Goals
1. Ensure that your car and dwelling are adequately insured.
2. Prepare a home inventory.
3. Determine whether you should increase your auto and homeowner’s/rental insurance in the future.
Analysis
1. Review the personal balance sheet you created in Chapter 2. Which assets require coverage
from an auto or homeowner’s/rental policy? What risks should you insurance against?
Personal Balance Sheet
2. Using Web sites such as www.insurance.com and www.insweb.com, obtain three quotes from three
separate companies for automobile insurance. Have information on hand for the year, make, and
model of your vehicle and estimates for how many miles you drive per year. Base the quotations on the
limits of liability listed (e.g., bodily injury limit of $100,000/$300,000 limit). Insert the deductible you
desire in the respective blanks on the form (and be sure to maintain same deductibles for all quotes).
Input the information from each quote in the below templates to aid your comparison of the various
policies.
www.insurance.com
www.insweb.com
Creating Your Own Personal Financial Plan
Company A:
COVERAGE
Liability
Bodily Injury ($100,000/$300,000 limit)
Property Damage ($50,000 limit)
Subtotal Liability $0
No-fault Medical Expenses and Income Loss
Uninsured/Underinsured Motorist
($100,000/$300,000 limit)
Collision ( Deductible)
Comprehensive ($ Deductible)
Emergency Road Service
Subtotal $0
Additional Charges (List):
Subtotal $0
Discounts in the Premium
Anti-lock Brakes
Accident-free Last 7 Years
Other Discounts (List):
Minus Total Discounts $0
Total Amount Due $0
Creating Your Own Personal Financial Plan
Company B:
COVERAGE
Liability
Bodily Injury ($100,000/$300,000 limit)
Property Damage ($50,000 limit)
Subtotal Liability $0
No-fault Medical Expenses and Income Loss
Uninsured/Underinsured Motorist
($100,000/$300,000 limit)
Collision ( Deductible)
Comprehensive ($ Deductible)
Emergency Road Service
Subtotal $0
Additional Charges (List):
Subtotal $0
Discounts in the Premium
Anti-lock Brakes
Accident-free Last 7 Years
Other Discounts (List):
Minus Total Discounts $0
Total Amount Due $0
Creating Your Own Personal Financial Plan
Company C:
COVERAGE
Liability
Bodily Injury ($100,000/$300,000 limit)
Property Damage ($50,000 limit)
Subtotal Liability $0
No-fault Medical Expenses and Income Loss
Uninsured/Underinsured Motorist
($100,000/$300,000 limit)
Collision ( Deductible)
Comprehensive ($ Deductible)
Emergency Road Service
Subtotal $0
Additional Charges (List):
Subtotal $0
Discounts in the Premium
Anti-lock Brakes
Accident-free Last 7 Years
Other Discounts (List):
Minus Total Discounts $0
Total Amount Due $0
Chapter continued on next worksheet.
Creating Your Own Personal Financial Plan
Analysis (cont.)
3. Complete your home inventory using the template below. Based on your inventory, how much personal property
coverage should you have? Is replacement costs or cash value a better policy option? Do you need a personal
property floater for any high-ticket items?
In addition to facilitating the process of settling insurance claims and verifying losses, a home inventory helps you
to determine the amount of insurance you need. The complexity of your inventory will depend upon your stage in life
and family situation. It’s a good idea to include copies of sales receipts and purchase contracts with your inventory.
After completing your home inventory, print out multiple copies and file them in secure locations (safety deposit box,
fireproof box, at your parent’s home, etc.). You should also consider taking pictures of individual items or videotaping
entire rooms as further documentation.
Item Description Make and Model Date Estimated Estimated
Acquired Purchase Replacement
Cost Cost
Electronics
Computer Equipment
Television
Stereo Equipment
DVD/VCR
Cellular Phone/Pager
Camera/Video Camera
Total Electronics $ - $ -
Major Appliances
Refrigerator/Freezer
Stove
Washer/Dryer
Microwave
Coffee Maker
Vacuum
Blender/Food Processor
Total Major Appliances $ - $ -
Clothing & Accessories
Pants
Shirts
Sweaters
Coats
Dresses
Skirts
Shoes
Accessories (belts, ties, etc.)
Watches
Rings
Earrings
Necklaces
Bracelets
Cufflinks
Total Clothing and Accessories $ - $ -
Linens
Towels
Bedding
Total Linens $ - $ -
Furniture
Living Room Set
Dining Room Set
Bedroom Sets
Kitchen Set
Bookshelves
Lamps
Rugs
Creating Your Own Personal Financial Plan
Analysis (cont.)
3. Complete your home inventory using the template below. Based on your inventory, how much personal property
coverage should you have? Is replacement costs or cash value a better policy option? Do you need a personal
property floater for any high-ticket items?
In addition to facilitating the process of settling insurance claims and verifying losses, a home inventory helps you
to determine the amount of insurance you need. The complexity of your inventory will depend upon your stage in life
and family situation. It’s a good idea to include copies of sales receipts and purchase contracts with your inventory.
After completing your home inventory, print out multiple copies and file them in secure locations (safety deposit box,
fireproof box, at your parent’s home, etc.). You should also consider taking pictures of individual items or videotaping
entire rooms as further documentation.
Item Description Make and Model Date Estimated Estimated
Acquired Purchase Replacement
Cost Cost
Total Furniture $ - $ -
Art and Music
Books
CDs/Records/Audio Tapes
DVD/VCR Tapes
Artwork
Total Art and Music $ - $ -
Kitchen Equipment
Dishes
Glassware
Silverware
Pots and Pans
Utensils
Total Kitchen Equipment $ - $ -
Athletic Equipment
Total Athletic Equipment $ - $ -
Collectibles
Total Collectibles $ - $ -
Other
Total Other $ - $ -
Creating Your Own Personal Financial Plan
Analysis (cont.)
3. Complete your home inventory using the template below. Based on your inventory, how much personal property
coverage should you have? Is replacement costs or cash value a better policy option? Do you need a personal
property floater for any high-ticket items?
In addition to facilitating the process of settling insurance claims and verifying losses, a home inventory helps you
to determine the amount of insurance you need. The complexity of your inventory will depend upon your stage in life
and family situation. It’s a good idea to include copies of sales receipts and purchase contracts with your inventory.
After completing your home inventory, print out multiple copies and file them in secure locations (safety deposit box,
fireproof box, at your parent’s home, etc.). You should also consider taking pictures of individual items or videotaping
entire rooms as further documentation.
Item Description Make and Model Date Estimated Estimated
Acquired Purchase Replacement
Cost Cost
Home Inventory (Purchase Cost)
Electronics
Major Appliances
Clothing & Accessories
Linens
Furniture
Art and Music
Kitchen Equipment
Athletic Equipment
Collectibles
Other
Home Inventory (Replacement Cost)
Electronics
Major Appliances
Clothing & Accessories
Linens
Furniture
Art and Music
Kitchen Equipment
Athletic Equipment
Collectibles
Other
Chapter continued on next worksheet.
Creating Your Own Personal Financial Plan
4. Using the following Web sites, obtain quotes for your homeowner’s or renter’s insurance
policy. After obtaining the quotes, complete the worksheets below to aid your comparison of
policies. Note: Some of these Web sites will provide you with a quote online while others will
indicate that a quote will be sent to you via U.S. mail or other medium. Insert the deductible
you desire on the form (and be sure to maintain the same deductible for all quotes).
Web sites:
www.amica.com
www.val-u-web.com/house.htm
www.savvy-bargains.com/insurance/homeowner-insurance-quote.html
www.homeownerswiz.com/
www.quotefetcher.com/home-insurance.htm
Company A
Coverage and Limits
Dwelling
Personal Property Deductible
Personal Liability
Damage to Property of Others
Medical Payments to Others (per person)
Discounts
Annual Premium
Company B
Coverage and Limits
Dwelling
Personal Property Deductible
Personal Liability
Damage to Property of Others
Medical Payments to Others (per person)
Discounts
Annual Premium
Company C
Coverage and Limits
Dwelling
Personal Property Deductible
Personal Liability
Damage to Property of Others
Medical Payments to Others (per person)
Discounts
Annual Premium
Creating Your Own Personal Financial Plan
Decisions
1. What are the key risks related to auto and homeowner’s insurance that you will insure
against?
2. What coverage levels will you maintain for your auto policy? Which of the policy quotes
you requested is most attractive? What actions can you take to receive policy discounts in
the future?
3. What coverage levels will you maintain for your homeowner’s policy? Which of the policy
quotes you requested is most attractive? What actions can you take to receive policy
discounts in the future?
Creating Your Own Personal Financial Plan
Goals
1. To ensure that your health and disability insurance adequately protects your wealth.
2. To develop a plan for your future health insurance needs, including long-term care.
Analysis
1. Complete the following worksheet to aid your evaluation of information provided by your
employer for your health insurance options. Which type of policy (indemnity plan, HMO, or PPO)
is best suited to your needs and budget?
Indemnity
Plan
Premium Co-pays Yes No
If Yes, Amount of Premium Co-pays
Coverage Eligibility Self Two-person Family
Coverage:
In State Yes No
Out of State Yes No
Out of the Country Yes No
Prescription Coverage Yes No
If Yes, Amount of Co-pay
Office Visits:
Co-pay Amount
Annual Deductible Yes No
If Yes, Amount of Deductible
Hospital Benefits:
Maximum Days of Hospital Care Days
Maximum Days for Mental Health or
Substance Abuse Days
Co-pay Yes No
If Yes, Amount of Co-pay
Annual Deductible Yes No
If Yes, Amount of Deductible Yes No
Outpatient Care:
Emergency Room Care Yes No
Physical Therapy Yes No
Occupational Therapy Yes No
Speech Therapy Yes No
Dental Coverage: Yes No
If Yes, Co-pays for Regular
Checkups Yes No
If Yes, How Much
Orthodontic Coverage: Yes No
If Yes, Co-pays for Regular
Checkups Yes
If Yes, How Much
Vision Coverage: Yes No
Frequency of Regular Eye Exams
Co-pay for Regular Eye Exams
Frequency for New Lenses
Co-pay for New Lenses
Frequency for New Frames
Co-pay for New Frames
Creating Your Own Personal Financial Plan
HMO
Premium Co-pays Yes No
If Yes, Amount of Premium Co-pays
Coverage Eligibility Self Two-person Family
Coverage:
In State Yes No
Out of State Yes No
Out of the Country Yes No
Prescription Coverage Yes No
If Yes, Amount of Co-pay
Office Visits:
Co-pay Amount
Annual Deductible Yes No
If Yes, Amount of Deductible
Hospital Benefits:
Maximum Days of Hospital Care Days
Maximum Days for Mental Health or
Substance Abuse Days
Co-pay Yes No
If Yes, Amount of Co-pay
Annual Deductible Yes No
If Yes, Amount of Deductible Yes No
Outpatient Care:
Emergency Room Care Yes No
Physical Therapy Yes No
Occupational Therapy Yes No
Speech Therapy Yes No
Dental Coverage: Yes No
If Yes, Co-pays for Regular
Checkups Yes No
If Yes, How Much
Orthodontic Coverage: Yes No
If Yes, Co-pays for Regular
Checkups Yes
If Yes, How Much
Vision Coverage: Yes No
Frequency of Regular Eye Exams
Co-pay for Regular Eye Exams
Frequency for New Lenses
Co-pay for New Lenses
Frequency for New Frames
Co-pay for New Frames
Creating Your Own Personal Financial Plan
PPO
Premium Co-pays Yes No
If Yes, Amount of Premium Co-pays
Coverage Eligibility Self Two-person Family
Coverage:
In State Yes No
Out of State Yes No
Out of the Country Yes No
Prescription Coverage Yes No
If Yes, Amount of Co-pay
Office Visits:
Co-pay Amount
Annual Deductible Yes No
If Yes, Amount of Deductible
Hospital Benefits:
Maximum Days of Hospital Care Days
Maximum Days for Mental Health or
Substance Abuse Days
Co-pay Yes No
If Yes, Amount of Co-pay
Annual Deductible Yes No
If Yes, Amount of Deductible Yes No
Outpatient Care:
Emergency Room Care Yes No
Physical Therapy Yes No
Occupational Therapy Yes No
Speech Therapy Yes No
Dental Coverage: Yes No
If Yes, Co-pays for Regular
Checkups Yes No
If Yes, How Much
Orthodontic Coverage: Yes No
If Yes, Co-pays for Regular
Checkups Yes
If Yes, How Much
Vision Coverage: Yes No
Frequency of Regular Eye Exams
Co-pay for Regular Eye Exams
Frequency for New Lenses
Co-pay for New Lenses
Frequency for New Frames
Co-pay for New Frames
Chapter continued on next worksheet.
Creating Your Own Personal Financial Plan
Analysis
2. If you are under age 60, long-term care insurance has probably not been a major concern to date.
Based on your family health history, your financial situation, and any long-term illnesses that you
have, should you look into getting a policy? Why or why not?
3. Referring to the personal cash flow statement you developed in Chapter 2 of this workbook,
complete the following template to determine your disability insurance needs.
Cash Flow Statement
DISABILITY INSURANCE NEEDS
Cash Inflows
Minus Work Related Cash Inflows*
Cash Inflows if Disabled $0
Total Cash Outflows
Minus Work-Related Cash Outflows*
Cash Outflows if Disabled $0
Cash Inflows Minus Outflows – Net Cash Flows if Disabled 0
Employer Disability Insurance
Social Security
Workmen’s Compensation
Total Insurance Cash Inflows 0
Net Cash Flows if Disabled Minus Total Insurance Cash Inflows** $0
* Cash flows that will discontinue if you are not working.
** A negative number indicates the amount of disability insurance coverage that you need per month.
However, if the number is positive it indicates that you have no need for disability insurance.
Source of Income in Event of Disability
Employer Disability
Insurance
Social Security
Workmen’s
Compensation
Creating Your Own Personal Financial Plan
Decisions
1. What steps have you taken or will you take to ensure that your health insurance needs are
being met? Which type of health insurance plan will you seek from an employer?
2. Does your age, personal health history, or family health history indicate that you should
consider long-term care insurance?
3. What are your disability insurance needs? What amount of additional coverage, if any, do
you require?
Creating Your Own Personal Financial Plan
Goals
1. Determine whether you need to purchase life insurance and if so, how much.
2. Determine the most appropriate types of life insurance.
3. Decide whether you should purchase or add to life insurance in the future.
Analysis
1. Your life insurance needs are dependent upon several factors. The below template employs the budget method discussed
in the text to determine the amount of insurance that you need. Complete the worksheet by filling in the appropriate information
your to determine life insurance needs.
1. Annual living expenses
(Refer to your personal cash flow statement developed in Chapter 2 to determine this figure.)
2. Minus spouse’s disposable ―after- tax‖ income
3. Minus interest or dividends from savings*
4. Minus other income
5. Annual living expenses to be replaced by insurance (line 1 minus lines 2, 3 and 4) $0
6. Assuming a rate of return and the number of years of expenses for which you will
need coverage, determine the present value. (Line 5 times PVIFA for years) 6.00% % per year -
7. Insurance needs for annual living expenses (line 5 times line 6) $0
8. Special future expenses
9. The number of years until line 8 above occurs: years.
10. Insurance needs for special future expenses $0
11. Current debt to be repaid by insurance proceeds
12. Educational/training expenses for spouse to be paid by insurance proceeds
13. Value of existing savings
14. Final expenses (Funeral and other related items)
15. Life insurance provided by employer
Total Insurance Needs $0
* This number should be adjusted if savings are to be liquidated and included in line 13. Only the interest and dividends from
those savings not counted in line 13 should be included here.
2. Review the following information about types of life insurance plans. Indicate how suitable each type is for your situation
in the right-hand column.
Type of
Insurance Plan Benefits Suitability
Term Insurance Insurance benefits
Whole-Life Insurance Insurance benefits
Universal Insurance Insurance benefits
3. If you have determined that you need life insurance, obtain premiums for the policy type and amount you desire at
www.prudential.com. At that site click on ―Products & Services‖ tab. At the ―Tools & Calculators‖ section on the
right side of screen, click on ―Insurance Tools.‖ Click on ―Life Insurance Quotes‖ toward bottom of page. Enter the
premiums in the template below.
www.prudential.com
Policy Type
Name of Insurance Company
Total Premium
Policy Type
Name of Insurance Company
Total Premium
4. Make any necessary changes to your personal cash flow statement to reflect premiums for life insurance.
Click here to see cash flow statement
Decisions
1. Do you need life insurance? If so, how much and what type of policy will suit your needs?
2. What do you anticipate your life insurance coverage needs to be in the future?
Creating Your Own Personal Financial Plan
Goals
1. Determine whether to invest; given your current cash flows.
2. Determine what kinds of investments you should purchase to meet your financial goals.
lenders.
Analysis
1. Review your cash flow statement to determine how much you can afford to invest
each month.
Click here to review your personal cash flow statement
2. Use the quizzes below to evaluate your risk tolerance to see if your temperament is suited to the
uncertainty of investments and how you should invest. .
Risk Tolerance Quiz
Answer True or False by entering an x in the appropriate box. Be sure to
Enter an x for only one box (True of False) per answer, otherwise your
results will be incorrect.
TRUE FALSE
1. If I own stock, I will check its price at least daily if not more often.
TRUE FALSE
2. When driving on an interstate, and traffic and weather permit, I never
drive in excess of the posted speed limit.
TRUE FALSE
3. If the price of my stock declines, my first reaction is to sell
TRUE FALSE
4. Another stock market crash similar to 1929 could occur very unexpectedly.
TRUE FALSE
5. When I fly in less than perfect weather, I tend to get nervous and concerned
about my safety.
TRUE FALSE
6. If I sold a stock at a loss of more than 25%, it would greatly shake my
confidence in my ability to invest.
TRUE FALSE
7. I intensely dislike blind dates.
TRUE FALSE
8. When I travel, I write down a packing list to be sure that I don't forget
anything.
TRUE FALSE
9. When traveling with others, I prefer to do the driving.
TRUE FALSE
10. Before buying a bond I would want to talk to at least two other people to
confirm my choice.
Score 0
Comment
You have the risk tolerance to invest.
Results
0-3 True: You have the risk tolerance to invest.
4-6 True: You would be a nervous investor, but with more knowledge and a few successes, you could probably
raise your risk tolerance to a suitable level for investing. Mutual funds might prove a good starting point for
your level of risk tolerance.
7-10 True: You are probably a very conservative and risk-intolerant investor that is probably better suited to a
bond portfolio.
Creating Your Own Personal Financial Plan
Risk Questionnaire
(Source: T. Rowe Price)
This questionnaire is designed for investors who are at least three years from retirement and plan to keep their funds for at least five years.
1. If you have significant experience with any of the investments listed under each of the following categories, give yourself the number
of points indicated for that category:
Stability (0 points)
Savings and checking accounts
Certificates of Deposit
Money market funds
GICs
Income (3 points)
Individual bonds
Bond mutual funds (corporate, government, municipal)
High-yield bond mutual funds
Growth (5 points)
Individual stocks
Growth and income mutual funds
Aggressive growth mutual funds
International stock mutual funds
Other (6 points)
Investment real estate
Options
Precious metals or commodities
Limited partnerships
2. Over time, inflation can dramatically affect an investment’s real return. Higher returns from some investments can help
compensate for the effects of inflation, but in general, higher returns can only be achieved by accepting more risk. Which
one of the following objectives has the most influence in shaping your financial strategy.
I want investments that are expected to keep pace with inflation. These types of investments generally have lower
chances of short-term losses (0 points).
I want investments that are expected to moderately outpace inflation. These types of investments generally have a
moderate chance of short-term losses (8 points).
I want investments that are expected to significantly outpace inflation. These types of investments generally have a
greater chance of short-term losses (14 points).
3. The average annual return for a hypothetical portfolio of mutual funds was 10 percent over a seven year period. The annual
return of the portfolio ranged from a gain of 25 percent to a 10 percent loss. Assume that you bought shares at the end
of year six. It is now the end of year seven and the portfolio lost 10 percent this past year. What is your plan for the portfolio?
(Please check only one box).
Sell (0 points)
Hold (10 points)
Invest additional money (14 points)
Sell half of your investment and hold the rest (4 points)
4. Which of the following is your main concern when selecting or maintaining an investment? (Please check only one box).
The potential for loss (0 points)
Mostly the potential for loss, with a minor concern for the potential for gain (4 points)
An equal concern for the potential for loss and gain (6 points)
Mostly the potential for gain, with a minor concern for the potential for loss (10 points)
The potential for gain (14 points)
Creating Your Own Personal Financial Plan
5. Suppose that one year ago you invested $20,000 in a stock mutual fund. The market has gone down during this period, and today
your investment is worth $16,000. You calculate that if you had originally put the $20,000 into a relatively risk-free investment such
as Treasury bills, you would have approximately $21,000 today. You decide to: (Please check only one box.)
Sell the fund and invest the proceeds in a much safer investment (0 points)
Sell the fund and invest the proceeds in a riskier investment in an attempt to recoup your losses faster (8 points)
Hold the fund. (6 points)
Buy more shares of the fund. (13 points)
6. If your total portfolio (all of your investments combined) posted a negative return for any given year; would you be
likely to sell some of your investments and invest the proceeds more conservatively?
Yes (0 points)
No (11 points)
7. You have $10,000 to invest and have only two investment options. Which would you be more likely to select?
(Please check only one box.)
Investment X: 70 percent chance of gaining $2,000, 30 percent chance of losing $500 (10 points)
Investment Y: 100 percent chance of gaining $500 (0 points)
8. Would you ever purchase securities on margin (i.e., borrow money to purchase stock)?
Yes (10 points)
No (0 points)
Portfolios:
Score Allocation Mix
0-7 70% Stability; 25% Income; 5% Growth
8-23 50% Stability; 35% Income; 15% Growth
24-38 35% Stability; 40% Income; 25% Growth
39-57 20% Stability; 40% Income; 40% Growth
58-73 10% Stability; 30% Income; 60% Growth
74-88 20% Income; 80% Growth
89-100 100% Growth
3. Determine whether investments will help you to achieve your short-term, intermediate-term,
and long-term goals.
Creating Your Own Personal Financial Plan
Complete the template below for the short-, intermediate-, and long-term goals that you have established
and reviewed throughout the course. In determining whether an investment such as money market securities,
stocks, bonds, mutual funds or real estate is suitable for each goal, take into consideration the timeline for
accomplishing the goal, the critical nature of the goal, and, of course, the results of your risk tolerance test. For
those goals that you determine investments are not suitable for, enter an "N" in column three, and do not complete
the rest of the line for that goal. If, however, you enter a "Y" in column three, think about the kind of investment that
is appropriate and justify your selection of stocks as a risk-appropriate means to accomplish this goal.
SUITABLE ? TYPE OF
Short-Term Goals Yes or No INVESTMENT JUSTIFICATION
0
0
0
0
0
SUITABLE ? TYPE OF
Intermediate-Term Goals Yes or No INVESTMENT JUSTIFICATION
#REF!
#REF!
#REF!
#REF!
#REF!
SUITABLE ? TYPE OF
Long-Term Goals Yes or No INVESTMENT JUSTIFICATION
0
0
0
0
0
Decisions
1. Summarize your reasoning for either investing or not investing to meet your goals.
2. If you decide to invest, how much will you invest each month? What types of investments will you purchase?
Why?
0 You have the risk tolerance to invest.
4 You would be a nervous investor, but with more knowledge and a few successes, you could probably raise your risk tolerance to a suitable level for investing. Mutual funds might prove a good starting point for your level of risk tolerance.
7 You are probably a very conservative and risk-intolerant investor that is probably better suited to a bond portfolio.
Creating Your Own Personal Financial Plan
Goals
1. Determine how to value a stock based on information about the economy and the firm.
Analysis
1. Select a stock in which you are considering investing.
2. Go to the Web site www.federalreserve.gov/FOMC/BeigeBook/2002. Click on the most current report
indicated and read the summary. As you do so, keep in mind the product and/or service provided by
the company you have selected to analyze. In the space provided below, record your analysis of the
Beige Book's economic analysis and its impact on your stock.
www.federalreserve.gov/FOMC/BeigeBook/2002
Comments
3. Go to the Web site www.smartmoney.com. Click on ―Funds‖ and then roll down to ―Fund Snapshots.‖ At the center
of the page you will see a box that says ―Enter Symbol or Name.‖ Enter the name or symbol of the company
you wish to analyze and hit "go." This will bring up the "Snapshot" tab for your company. Answer the following
questions, finding the data in the tab indicated:
www.smartmoney.com
Snapshot
(1) Is the price of your stock currently close to its 52-week high or 52-week low?
(2) Does this stock pay a dividend and, if so, how much?
Charting
(3) What has been the long-term price trend of your company's stock?
News
(4) Do you see any significant news events that may favorably or unfavorably affect
your stock?
Creating Your Own Personal Financial Plan
Earnings
(5) How well has your company met its earnings estimates?
(6) How does your company's estimated growth for the current and next fiscal year
compare to industry projections?
(7) How does your company's estimated growth for the current and next fiscal year
compare to the S&P 500?
(8) How does your company's estimated three-five year annual growth compare to
the industry projections?
(9) How does your company's estimated three-five year annual growth compare to
the S&P 500?
Ratings
(10) How many Wall Street analysts rate your stock?
(11) What has been the net change in recommendation?
(12) How many rate your stock:
Strong buy
Moderate buy
Hold
Moderate sell
Strong sell
(13) How do the recommendations for your stock compare to others in the industry?
Creating Your Own Personal Financial Plan
Competition
(14) How does your company compare, in terms of market value, to its competition, i.e.,
is it one of the larger or smaller companies in its industry?
(15) How does your company's net profit margin compare to that to its competition, i.e.,
is it one of the larger or smaller companies in its industry?
(16) How does your company's net profit margin compare to that of its competition?
Key Ratios
(17) How does your company's return on equity compare to that of the industry?
(18) How does your company's assets compare to that of the industry?
Creating Your Own Personal Financial Plan
Financials
(19) How does the growth in revenues of your company compare to that of its
competition?
(20) How does the growth in net earnings of your company compare to that of its
competition?
Insiders
(21) In analyzing any stock, it is always good to know what the "insiders" are doing.
From the chart, are they buying, selling, intending to buy, or doing nothing?
Summary
(22) Based on your analysis of the above, answer the following questions:
A. Would this stock be considered a(n) (enter an X to signify your choice):
Growth stock
Income stock
Growth/income stock
Creating Your Own Personal Financial Plan
B. For which of the long-term goals that you established in Chapter 1 would
this stock be a suitable investment, if any?
Long-Term Goals
Suitable (Yes or No) Rationale for Selection
0
0
0
0
0
Decisions
1. Based on your valuation, will you purchase this stock?
2. If you invest in this particular stock, which of your financial goals will the investment be
aimed at achieving?
Creating Your Own Financial Plan
Goals
1. Determine a method to use for executing stock transactions.
Analysis
1. Answer each of the following questions by checking the box to the right either ―Yes‖ or ―No‖
A. I will feel better if I have a specific person to talk to about my account. Yes No
B. I will require professional research assistance to make investment decisions. Yes No
C. I will utilize banking-type services such as check writing and debit cards. Yes No
D. I will feel more comfortable if I have a broker who calls me from time to time Yes No
with suggestions to improve the performance of my portfolio.
E. I have a relatively complex portfolio that includes an after-tax account, Roth Yes No
and/or traditional IRAs and rollover IRAs.
F. I use my portfolio to meet a variety of goals with varying time horizons (short, Yes No
intermediate, and long term).
G. I require advice on the tax implications of my investments. Yes No
H. My portfolio is large enough to require an annual review and rebalancing. Yes No
I. I sleep better if I know who is watching my money. Yes No
J. I feel better doing business with people who know my name. Yes No
Total number of Yes answers 0
If you answer ―yes‖ to five or more of the above questions, you should seriously consider a full-service
broker. If you answered "yes" to less than five, we suggest you use an online/discount broker.
Creating Your Own Financial Plan
2. Use the following template as a guide to comparing three potential online or discount
brokerage companies.
Brokerage company name
Cost per trade
Available investments:
Common stocks Yes No Yes No Yes No
Preferred stocks Yes No Yes No Yes No
Corporate bonds Yes No Yes No Yes No
Municipal bonds Yes No Yes No Yes No
Options Yes No Yes No Yes No
Commodities Yes No Yes No Yes No
Annuities Yes No Yes No Yes No
Mutual funds (load) Yes No Yes No Yes No
Mutual funds (no load) Yes No Yes No Yes No
Money Markets Yes No Yes No Yes No
Navigability of Web site
Phone access to account
information
Real-time portfolio updating
Minimum initial investment
Availability of banking
features (e.g., credit cards
and checks)
Research tools available
Accounts available:
Brokerage account Yes No Yes No Yes No
Maint. Fee Maint. Fee Maint. Fee
Traditional IRA Yes No Yes No Yes No
Maint. Fee Maint. Fee Maint. Fee
Roth IRA Yes No Yes No Yes No
Maint. Fee Maint. Fee Maint. Fee
Rollover IRA Yes No Yes No Yes
Maint. Fee Maint. Fee Maint. Fee
College savings accounts Yes No Yes No Yes
Maint. Fee Maint. Fee Maint. Fee
Creating Your Own Financial Plan
3. If you decide to rely on a full-service broker, use the following questions as an interview guide when screening
prospective advisors.
Question Broker 1 Broker 2 Broker 2
1. How long have you been
with this firm?
2. How long have you been
in the brokerage business?
3. What is the average size
of the portfolios of your
clients?
4. What is the average cost
of a 100-share transaction?
(This question will lead to an
explanation of the firm's fee
structure.)
5. Does your firm sell no-load
mutual funds?
6. What is the annual
maintenance fee for an IRA?
7. Can I access my account
and execute transactions on-
line?
8. Does your firm have
services such as check
writing, debit card, etc.
available?
9. How many offices does
your firm have around the
country?
10. How often do I get
statements on my account?
11. What is the current rate
paid on your money market
accounts?
12. What are the typical
account fees?
13.
14.
15.
16.
Creating Your Own Financial Plan
Add to this list any questions that are unique to your investing situation and delete any that do not
pertain to you.
4. What type of orders—market, limit, or buy stop—do you intend to use when purchasing stock?
Do you intend to pay with cash or buy on margin? Why?
Decisions
1. What type of brokerage firm will you work with - full-service or discount/online? Why?
2. Summarize your decision on the type of orders you will place to purchase stock and your
preference for using cash versus buying on margin.
Creating Your Own Personal Financial Plan
Goals
1. Determine if you could benefit from investing in bonds.
2. If you decide to invest in bonds, determine what strategy to use.
Analysis
1. Go to the SmartMoney Web site (www.smartmoney.com) and click on "Economy and Bonds."
This will bring you to a page on bond investing that contains numerous articles that you should
review to determine if bonds are suitable for your portfolio considering your financial goals. Review
these articles in detail, particularly the one entitled A Bond Primer .
www.smartmoney.com
2. Go to the Web site www.investinginbonds.com. Click on ―Investor’s Checklist‖ located
under ―Features‖ on left-hand side of the screen. Answer the basic questions given and review
the perspective to the right of each question.
www.investinginbonds.com
After completing your visits to the Web sites above, carefully consider whether any of your
financial goals could be met with bond investing. Indicate the bond type (Treasury,
Corporate, Municipal, Government Agency) and maturity.
Short-Term Goals
Use Bonds Maturity
(Yes or No) Type of Bond (Years) Reasoning (Factoring in Risk Exposure)
0
0
0
0
0
Long-Term Goals
0
0
0
0
0
3. Consider the suitability of the following bond investment strategies for your financial situation. Enter
your conclusions in the right-hand column.
Strategy to Invest in Bonds Opinion
1. Interest Rate Strategy
2. Passive Strategy
3. Maturity Matching Strategy
4. Review your personal cash flow statement. If you decide bonds are a good investment, allocate money
for them.
Click here to see cash flow statement
Decisions
1. Describe your rationale for investing or not investing in bonds.
2. If you decide to invest in bonds, what strategy will you use?
Creating Your Own Personal Financial Plan
Goals
1. Determine if and how you could benefit from investing in mutual funds.
2. If you decide to invest in mutual funds, choose the best types of funds for your needs.
Analysis
1. At www.smartmoney.com, click on the tab marked ―Funds‖ at the top of the page. Under the
heading "Tools and Research‖ located towards the lower left side of the page, click on ―Fund
Portfolio Builder.‖ Choose two or three that meet your goal needs. Enter your findings in the
following chart:
www.smartmoney.com
Suitable Investment
Type of Stock Mutual Funds Option? Reasoning
Growth
Capital Appreciation
Equity Income
Balance Growth and Income
Sector
Technology
Index
International
Suitable Investment
Type of Bond Mutual Fund Option? Reasoning
Treasury
Ginnie Mae
Corporate Bond
High-Yield Bond
Municipal Bond
Index Bond
International Bond
Creating Your Own Personal Financial Plan
2. Return to www.smartmoney.com. Click on the tab marked ―Funds,‖ then roll down to
―More.‖ Next, click on ―Best & Worst‖ located on the right-hand side of screen. Under the
Top 25 funds, select the category of funds you identified as meeting one or more of your
goals from the pull-down menu. Answer the following questions and note other pertinent
information about your fund:
www.smartmoney.com
(1) On the "snap-shot" tab, what is the risk versus return relationship for your
fund?
(2) On the "return" tab, how does your fund's return compare to the return for its category
over various time spans?
(3) On the "expense" tab, what are the expenses for your fund?
(4) How do your fund's expenses compare to the expenses for this category?
(5) Under the "purchase" tab, is this fund open to new investors?
(6) If so, what is the minimum purchase?
(7) What is the minimum subsequent purchase?
(8) Under the "portfolio" tab, how long has the fund manager been in place?
Decisions
Creating Your Own Personal Financial Plan
1. What is your decision regarding mutual funds? Why are they/aren't they a good
investment for you?
2. If you decide to invest in mutual funds, what types of funds will you select? Why?
Debt Eliminator
Debt Worksheet
(Credit Cards, Car Loans)
After-Tax Bad Debt-
Estimated Annual Annual to-Income
Name of Card/Loan Amount Owed Interest Rate Interest Payments Income Ratio
Example:
1 2
First Bank Card of Utah $4,000.00 13.50% $4,000 x 0.135 =$540 $ 25,000 16.00%
Principal x interest rate = interest paid
$ - #DIV/0!
$ - #DIV/0!
$ - #DIV/0!
$ - #DIV/0!
$ - #DIV/0!
$ - #DIV/0!
$ - #DIV/0!
$ - #DIV/0!
$ - #DIV/0!
$ - #DIV/0!
$ - #DIV/0!
$ - #DIV/0!
2
Total $ - $ - #DIV/0!
1
This is just an estimate which will work fine for this exercise. It is estimated based on the beginning
balance being the balance for the whole year. In reality a portion of the principal is paid each month when
a payment is made. But for this exercise we do not need to be that precise.
2
You want your bad debt-to-income ratio to be 15% or less. If it's greater than that we have some work to do.
Debt Eliminator
Debt Eliminator Example
Name of Card Credit Card 1 Credit Card 2 Credit Card 3 Total
Interest Rate 17.50% 21.0% 16.0% 13.5%
Montyly Payment $ 300.00 $ 200.00 $ 100.00
Monthly Monthly Monthly Monthly
Principal Principal Principal Principal
Payment Balance Excess Payment Balance Excess Payment Balance Payment Balance
2,500.00 - 2,000.00 - 1,500.00 6,000.00
January 256.25 2,243.75 - 173.33 1,826.67 - 100.00 1,400.00 529.58 5,470.42
February 260.73 1,983.02 - 175.64 1,651.02 - 100.00 1,300.00 536.38 4,934.04
March 265.30 1,717.72 - 177.99 1,473.04 - 100.00 1,200.00 543.28 4,390.75
April 269.94 1,447.78 - 180.36 1,292.68 - 100.00 1,100.00 550.30 3,840.45
May 274.66 1,173.11 - 182.76 1,109.91 - 100.00 1,000.00 557.43 3,283.03
June 279.47 893.64 - 185.20 924.71 - 100.00 900.00 564.67 2,718.35
July 284.36 609.28 - 187.67 737.04 - 100.00 800.00 572.03 2,146.32
August 289.34 319.95 - 190.17 546.87 - 100.00 700.00 579.51 1,566.81
September 294.40 25.54 - 192.71 354.16 - 100.00 600.00 587.11 979.70
October 25.54 - 274.46 195.28 158.88 - 100.00 500.00 320.82 658.88
November - - 300.00 433.34 (274.46) 41.12 100.00 400.00 533.34 125.54
December - - 300.00 25.54 (300.00) 474.46 400.00 - 425.54 (300.00)
Debt Eliminator
Name of Card Credit Card 1 Credit Card 2 Credit Card 3 Credit Card 4 Credit Card 5 Total
Interest Rate
Monthly Monthly Monthly Monthly Monthly Monthly
Principal Principal Principal Principal Principal Principal
Payment Balance Payment Balance Payment Balance Payment Balance Payment Balance Payment Balance
-
January - - - - - - -
February - - - - - - -
March - - - - - - -
April - - - - - - -
May - - - - - - -
June - - - - - - -
July - - - - - - -
August - - - - - - -
September - - - - - - -
October - - - - - - -
November - - - - - - -
December - - - - - - -
January - - - - - - -
February - - - - - - -
March - - - - - - -
April - - - - - - -
May - - - - - - -
June - - - - - - -
July - - - - - - -
August - - - - - - -
September - - - - - - -
October - - - - - - -
November - - - - - - -
December - - - - - - -
January - - - - - - -
February - - - - - - -
March - - - - - - -
April - - - - - - -
May - - - - - - -
June - - - - - - -
July - - - - - - -
August - - - - - - -
September - - - - - - -
October - - - - - - -
November - - - - - - -
December - - - - - - -
Debt Eliminator
Single Month Money Tracking Worksheet
Week 1 Week 2 Week 3 Week 4 Total
Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual
Income
Income Source 1 - -
Income Source 2 - -
Income Source 3 - -
Total Income - - - - - - - - - -
Savings/Donations
Savings - -
Donations - -
Investments - -
Room and Board
Rent/Mortgage - -
Food - -
Electricity - -
Water/Sewer/Trash - -
Oil/Gas - -
Telephone - -
Cell Phone - -
House Maintenance - -
Real Estate Taxes - -
Improvements - -
Dining out/Take-out - -
Transportation
Car loan - -
Gas - -
Maintenance - -
Medical and Grooming
Medical - -
Grooming - -
Clothes - -
Laundry - -
Recreation
Entertainment - -
Cable/Satellite TV - -
Internet Access - -
Vacation - -
Gifts - -
Insurance
Vehicle - -
Home Owner's/Renter's - -
Life/Disability/Other - -
Debt Repayment
Credit Cards - -
Loans - -
Taxes
Income taxes (state and federal) - -
Social Security and Medicare - -
Other
Business/professional - -
Child care - -
Tuition/education - -
Subscriptions - -
Child support - -
Alimony - -
Pets - -
Miscellaneous
Miscellaneous - -
Other (list): - -
- -
- -
- -
- -
Total Expenses - - - - - - - - - -
Net Income/Loss - - - - - - - - - -
Year 2007
Name; Jerry L. Basford
Current Month 2
February February
Chapter 1
Budget
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total
Gross Income - - - - - - - - - - - - -
Taxes - - - - - - - - - - - - -
Disposable Income - - - - - - - - - - - - -
Savings - - - - - - - - - - - - -
Donations - - - - - - - - - - - - -
Food - - - - - - - - - - - - -
Credit Cards/Loans - - - - - - - - - - - - -
Medical/Insurance - - - - - - - - - - - - -
House/Utilities - - - - - - - - - - - - -
Grooming/Toiletries - - - - - - - - - - - - -
Pets - - - - - - - - - - - - -
Vehicles - - - - - - - - - - - - -
Subscriptions/Books - - - - - - - - - - - - -
Entertainment/School - - - - - - - - - - - - -
Clothes/Misc. - - - - - - - - - - - - -
Net Income/(Loss) - - - - - - - - - - - - -
Cashflow
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total
Gross Income - - - - - - - - - - - - -
Taxes - - - - - - - - - - - - -
Disposable Income - - - - - - - - - - - - -
Savings - - - - - - - - - - - - -
Donations - - - - - - - - - - - - -
Food - - - - - - - - - - - - -
Credit Cards/Loans - - - - - - - - - - - - -
Medical/Insurance - - - - - - - - - - - - -
House/Utilities - - - - - - - - - - - - -
Grooming/Toiletries - - - - - - - - - - - - -
Pets - - - - - - - - - - - - -
Vehicles - - - - - - - - - - - - -
Subscriptions/Books - - - - - - - - - - - - -
Entertainment/School - - - - - - - - - - - - -
Clothes/Misc. - - - - - - - - - - - - -
Net Income/(Loss) - - - - - - - - - - - - -
Chapter 4
Taxes DO NOT USE THIS TABLE TO CALCULATE YOUR TAX
Single -
of the amount
Not Less Than Not More Than The tax is: over Front-end Ratio:
- 7,550 - 10.0% - PITI - #DIV/0!
7,550 30,650 755.00 + 15.0% 7,550 Gross Income -
30,650 74,200 4,220.00 + 25.0% 30,650
74,200 154,800 15,107.50 + 28.0% 74,200 Back-end Ratio:
154,800 336,550 37,675.50 + 33.0% 154,800 PITI + Debt - #DIV/0!
336,550 ------- 97,653.00 + 35.0% 336,550 Gross Income -
Married Filing Jointly or Qualifying Widow(er)
- 15,100 - 10.0% -
15,100 61,300 1,510.00 + 15.0% 15,100.00
61,300 123,700 8,440.00 + 25.0% 61,300.00
123,700 188,450 24,040.00 + 28.0% 123,700.00
188,450 336,550 42,170.00 + 33.0% 188,450.00
336,550 ------- 91,043.00 + 35.0% 336,550.00
Married Filing Separately
- 7,550 - 10.0% -
7,550 30,650 755.00 + 15.0% 7,550.00
30,650 61,850 4,220.00 + 25.0% 30,650.00
61,850 94,225 12,020.00 + 28.0% 61,850.00
94,225 168,275 21,085.00 + 33.0% 94,225.00
168,275 ------- 45,521.50 + 35.0% 168,275.00
Head of Household
- 10,750 - 10.0% -
10,750 41,050 1,075.00 + 15.0% 10,750.00
41,050 106,000 5,620.00 + 25.0% 41,050.00
106,000 171,650 21,857.50 + 28.0% 106,000.00
171,650 336,550 40,239.50 + 33.0% 171,650.00
336,550 ------- 94,656.50 + 35.0% 336,550.00
Long Term Capital Tax Rate 10%
Budget Template
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance
Interest
Dividends
Other Income
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Subtotals
Gross Income $ -
Taxes -
Savings -
Donations -
Food -
Credit Cards/Loans -
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Actual Template
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning balance
-
-
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Subtotals
Gross Income $ -
Taxes -
Savings -
Donations -
Food -
Credit Cards/Loans -
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Budget for January
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Subtotals Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations - Credit
Cards/Loans
Clothes/Misc.
Taxes
Vehicles
Medical/Insurance
Food - Donations
Subscriptions/Books
House/Utilities
Savings
Entertainment/School
Pets
Grooming/Toiletries
0%
Food
0%0%
0% 0%
0%0%
0%0%
0%
0%0%
Credit Cards/Loans -
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Actuals for January
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning balance
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Subtotals
Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Credit
Clothes/Misc.
Taxes
Pets
Entertainment/School
Vehicles
Cards/Loans
House/Utilities
Food
Grooming/Toiletries
Donations
Savings
Subscriptions/Books
Medical/Insurance
Credit Cards/Loans - 0%0%
0%
0% 0%
0%0%
0%0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Budget for February
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Subtotals
Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Entertainment/School
Clothes/Misc.
Medical/Insurance
Taxes
Vehicles
Donations
Credit Cards/Loans
House/Utilities
Food
Savings
Grooming/Toiletries
Pets
Subscriptions/Books
Credit Cards/Loans - 0% 0%
0%0%
0%
0% 0%
0%
0% 0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Actuals for February
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Subtotals
Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Clothes/Misc.
House/Utilities
Taxes
Vehicles
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Food
Cards/Loans
Credit Cards/Loans - 0%
0% 0%
0% 0%
0%
0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Budget for March
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Subtotals Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Vehicles
Clothes/Misc.
House/Utilities
Taxes
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Cards/Loans
Food
Credit Cards/Loans - 0%
0%
0% 0%
0%
0%
0%0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Actuals for March
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
-
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA -
FICA-MD HI -
FED W/H -
State W/H -
FICA -
FICA-MD HI -
FED W/H -
State W/H -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Subtotals
Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Clothes/Misc.
House/Utilities
Taxes
Vehicles
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Food
Cards/Loans
Credit Cards/Loans - 0%
0% 0%
0% 0%
0%
0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Budget for April
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance Utilities
Beginning Balance $ -
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Subtotals Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Credit
Food - Vehicles
Cards/Loans
Clothes/Misc.
Entertainment/School
Taxes
Donations
Medical/Insurance
Utilities
Grooming/Toiletries
Savings
Pets
Food
Subscriptions/Books
Credit Cards/Loans - 0%
0% 0%
0%
0%
0%0%
0%
0%
0% 0%
Medical/Insurance -
Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Actuals for April
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
-
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA -
FICA-MD HI -
FED W/H -
State W/H -
FICA -
FICA-MD HI -
FED W/H -
State W/H -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Subtotals
Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Clothes/Misc.
House/Utilities
Taxes
Vehicles
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Food
Cards/Loans
Credit Cards/Loans - 0%
0% 0%
0% 0%
0%
0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Budget for May
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Subtotals Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Vehicles
Clothes/Misc.
House/Utilities
Taxes
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Cards/Loans
Food
Credit Cards/Loans - 0%
0%
0% 0%
0%
0%
0%0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Actuals for May
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
-
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA -
FICA-MD HI -
FED W/H -
State W/H -
FICA -
FICA-MD HI -
FED W/H -
State W/H -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Subtotals
Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Clothes/Misc.
House/Utilities
Taxes
Vehicles
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Food
Cards/Loans
Credit Cards/Loans - 0%
0% 0%
0% 0%
0%
0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Budget for June
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Subtotals Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Vehicles
Clothes/Misc.
House/Utilities
Taxes
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Cards/Loans
Food
Credit Cards/Loans - 0%
0%
0% 0%
0%
0%
0%0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Actuals for June
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA -
FICA-MD HI -
FED W/H -
State W/H -
FICA -
FICA-MD HI -
FED W/H -
State W/H -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Subtotals
Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Clothes/Misc.
House/Utilities
Taxes
Vehicles
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Food
Cards/Loans
Credit Cards/Loans - 0%
0% 0%
0% 0%
0%
0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Budget for July
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Subtotals Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Vehicles
Clothes/Misc.
House/Utilities
Taxes
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Cards/Loans
Food
Credit Cards/Loans - 0%
0%
0% 0%
0%
0%
0%0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Actuals for July
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
-
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA -
FICA-MD HI -
FED W/H -
State W/H -
FICA -
FICA-MD HI -
FED W/H -
State W/H -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Subtotals
Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Clothes/Misc.
House/Utilities
Taxes
Vehicles
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Food
Cards/Loans
Credit Cards/Loans - 0%
0% 0%
0% 0%
0%
0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Budget for August
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Subtotals Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Vehicles
Clothes/Misc.
House/Utilities
Taxes
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Cards/Loans
Food
Credit Cards/Loans - 0%
0%
0% 0%
0%
0%
0%0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Actuals for August
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
-
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA -
FICA-MD HI -
FED W/H -
State W/H -
FICA -
FICA-MD HI -
FED W/H -
State W/H -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Subtotals
Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Clothes/Misc.
House/Utilities
Taxes
Vehicles
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Food
Cards/Loans
Credit Cards/Loans - 0%
0% 0%
0% 0%
0%
0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Budget for September
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Subtotals Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Vehicles
Clothes/Misc.
House/Utilities
Taxes
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Cards/Loans
Food
Credit Cards/Loans - 0%
0%
0% 0%
0%
0%
0%0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Actuals for September
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
-
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA -
FICA-MD HI -
FED W/H -
State W/H -
FICA -
FICA-MD HI -
FED W/H -
State W/H -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Subtotals
Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Clothes/Misc.
House/Utilities
Taxes
Vehicles
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Food
Cards/Loans
Credit Cards/Loans - 0%
0% 0%
0% 0%
0%
0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Budget for October
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Subtotals Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Vehicles
Clothes/Misc.
House/Utilities
Taxes
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Cards/Loans
Food
Credit Cards/Loans - 0%
0%
0% 0%
0%
0%
0%0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Actuals for October
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA -
FICA-MD HI -
FED W/H -
State W/H -
FICA -
FICA-MD HI -
FED W/H -
State W/H -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Subtotals
Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Clothes/Misc.
House/Utilities
Taxes
Vehicles
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Food
Cards/Loans
Credit Cards/Loans - 0%
0% 0%
0% 0%
0%
0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Budget for November
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Subtotals Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Vehicles
Clothes/Misc.
House/Utilities
Taxes
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Cards/Loans
Food
Credit Cards/Loans - 0%
0%
0% 0%
0%
0%
0%0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Actuals for November
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA -
FICA-MD HI -
FED W/H -
State W/H -
FICA -
FICA-MD HI -
FED W/H -
State W/H -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Subtotals
Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Clothes/Misc.
House/Utilities
Taxes
Vehicles
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Food
Cards/Loans
Credit Cards/Loans - 0%
0% 0%
0% 0%
0%
0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Budget for December
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
FICA
FICA-MD HI
FED W/H
State W/H
Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ - Budget $ -
Actual - Actual - Actual - Actual - Actual - Actual - Actual -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Subtotals Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Vehicles
Clothes/Misc.
House/Utilities
Taxes
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Cards/Loans
Food
Credit Cards/Loans - 0%
0%
0% 0%
0%
0%
0%0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Actuals for December
2007
Jerry L. Basford
Gross Income Savings Donations Food Credit Cards/Loans Medical/Insurance House/Utilities
Beginning Balance $ -
-
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ - Difference $ -
Taxes Grooming/Toiletries Pets Vehicles Subscriptions/Books Entertainment/School Clothes/Misc.
FICA
FICA-MD HI
FED W/H
State W/H
FICA -
FICA-MD HI -
FED W/H -
State W/H -
FICA -
FICA-MD HI -
FED W/H -
State W/H -
Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ - Actual $ -
Budget - Budget - Budget - Budget - Budget - Budget - Budget -
Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ - Remaining $ -
Subtotals
Expenses by Category
Gross Income $ -
Taxes -
Savings -
Donations -
Food - Clothes/Misc.
House/Utilities
Taxes
Vehicles
Credit Donations
Pets
Savings
Entertainment/School
Subscriptions/Books
Grooming/Toiletries
Medical/Insurance
Food
Cards/Loans
Credit Cards/Loans - 0%
0% 0%
0% 0%
0%
0%
0%
0%
Medical/Insurance -
House/Utilities -
Grooming/Toiletries -
Pets -
Vehicles -
Subscriptions/Books -
Entertainment/School -
Clothes/Misc. -
Total -
Beginning Balance -
Net Income/(Loss) -
New Balance -
Budgeted Cash Flow for
2007
Jerry L. Basford
January February March April May June July August September October November December Total
Beginning Balance - ######## ######## ######## ######## ######## ######## ######## ######## ######## ######## ######## -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Gross Income - - - - - - - - - - - - -
Federal Withholding - - - - - - - - - - - - -
FICA - MD HI - - - - - - - - - - - - -
FICA - - - - - - - - - - - - -
State Withholding - - - - - - - - - - - - -
Total Taxes - - - - - - - - - - - - -
Income after Taxes - - - - - - - - - - - - -
Savings - - - - - - - - - - - - -
Donations - - - - - - - - - - - - -
Food - - - - - - - - - - - - -
Credit Cards/Loans - - - - - - - - - - - - -
Medical/Insurance - - - - - - - - - - - - -
House/Utilities - - - - - - - - - - - - -
Grooming/Toiletries - - - - - - - - - - - - -
Pets - - - - - - - - - - - - -
Vehicles - - - - - - - - - - - - -
Subscriptions/Books - - - - - - - - - - - - -
Entertainment/School - - - - - - - - - - - - -
Clothes/Misc. - - - - - - - - - - - - -
Total Expenditures - - - - - - - - - - - - -
Net Income/(Loss) - - - - - - - - - - - - -
Cumulative Income/(Loss) - - - - - - - - - - - - -
Balance - - - - - - - - - - - -
Expenses by Category
Credit
Savings
Cards/Loans
Medical/Insurance
Donations
Vehicles
Pets
Food
Subscriptions/Books
House/Utilities
Clothes/Misc.
Entertainment/School
0%
0% Grooming/Toiletries
0% 0%
0%
0%
0%
0%
Actual Cash Flow for
2007
Jerry L. Basford
January February March April May June July August September October November December Total
Beginning Balance - ######## ######## ######## ######## ######## ######## ######## ######## ######## ######## ######## -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Income - - - - - - - - - - - - -
Gross Income - - - - - - - - - - - - -
Federal Withholding - - - - - - - - - - - - -
FICA - MD HI - - - - - - - - - - - - -
FICA - - - - - - - - - - - - -
State Withholding - - - - - - - - - - - - -
Total Taxes - - - - - - - - - - - - -
Income after Taxes - - - - - - - - - - - - -
Savings - - - - - - - - - - - - -
Donations - - - - - - - - - - - - -
Food - - - - - - - - - - - - -
Credit Cards/Loans - - - - - - - - - - - - -
Medical/Insurance - - - - - - - - - - - - -
House/Utilities - - - - - - - - - - - - -
Grooming/Toiletries - - - - - - - - - - - - -
Pets - - - - - - - - - - - - -
Vehicles - - - - - - - - - - - - -
Subscriptions/Books - - - - - - - - - - - - -
Entertainment/School - - - - - - - - - - - - -
Clothes/Misc. - - - - - - - - - - - - -
Total Expenditures - - - - - - - - - - - - -
Net Income/(Loss) - - - - - - - - - - - - -
Cumulative Income/(Loss) - - - - - - - - - - - - -
Balance - - - - - - - - - - - -
PITI $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
Expenses by Category
Credit
Savings
Cards/Loans
Medical/Insurance
Vehicles
Donations
Food
Pets
Subscriptions/Books
House/Utilities
Clothes/Misc.
Entertainment/School
0% Grooming/Toiletries
0% 0%
0%0%
0%
0%
0%
0%