Journal of Personal Financial Planning - Excel

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Journal of Personal Financial Planning - Excel Powered By Docstoc
					Name:                                                                             Date:

Personal Data
Purpose: To provide quick reference for vital household data.

Instructions: Provide the personal and financial data requested below.                                                     1
Suggested Web sites:                  www.money.com                                        www.kiplinger.com




                             Name

                        Birth Date

                    Marital Status

                          Address




                                                                                                                       Personal Financial Planner
                            Phone

                            e-mail

              Social Security no.

              Driver's license no.

            Place of employment

                          Address



                            Phone

                          Position

                Length of service

               Checking acct. no.

             Financial institution

                          Address

                            Phone


Dependent Data
Name                                      Birth Date             Relationship                    Social Security no.




What's Next for your Personal Financial Plan?

* Identify financial planning experts(insurance agent, banker, investment adviser, tax preparer, others) you might
contact for financial planning information or assistance.
* Discuss with other household members various financial planning priorities.
Name:                                                                 Date:

Financial Institutions and Advisers
Purpose: To create a directory of personal financial institutions and financial planning professionals.
Instructions: Supply the information required in the spaces provided.                                                                           2
Suggested Web sites:            www.quicken.com                                       www.bankrate.com



Attorney                                                                       Tax Preparer
                      Name                                                                 Name
                    Address                                                                 Firm
                                                                                        Address
                      Phone
                        Fax                                                                  Phone
                      e-mail                                                                   Fax




                                                                                                                                            Personal Financial Planner
                                                                                             e-mail

Primary Financial Institution                                                  Insurance (Life/Health)
                     Name                                                                   Name
                    Address                                                              Company
                                                                                           Address
                      Phone
                         Fax                                                                 Phone
         Checking acct. no.                                                                     Fax
            Saving acct. no.                                                                 e-mail
                   Loan no.                                                              Policy no.



Insurance (Home/Auto)                                                          Investment Broker
                   Name                                                                    Name
               Company                                                                  Address
                 Address
                                                                                            Phone
                     Phone                                                                     Fax
                        Fax                                                                 e-mail
                  Policy no.                                                              Acct. no.
                      e-mail

Credit Card 1                                                                  Real Estate Agent
                      Name                                                                  Name
                    Address                                                             Company
                                                                                         Address
                      Phone
                         Fax                                                                 Phone
                    Acct. no.                                                                  Fax
                   Exp. Date                                                                 e-mail
                       Limit

Credit Card 2                                                                  Investment Company
                      Issuer                                                               Name
                    Address                                                             Address

                      Phone                                                                 Phone
                         Fax                                                                   Fax
                    Acct. no.                                                             Acct. no.
                   Exp. Date                                                                e-mail
                       Limit                                                              Web site

What's Next for your Personal Financial Plan?

* Talk to various personal and professional contacts to determine factors to consider when selecting various financial planning advisers.
* Identify additional financial planning contacts that you might consider using in the future.
Name:                                                                                           Date:

Setting Personal Financial Goals
Purpose: To identify personal financial goals and create an action plan.
Instructions: Based on personal and household needs and values, identify specific goals that require action.                                          3
Suggested Web sites:                 www.financialplan.about.com                                          www.moneycentral.msn.com



Short-Term Monetary Goals (less than two years)
                                                                             Months to
Description                                            Amount needed          achieve                Action to be taken                Priority

Example : pay off credit card debt                           $850                12        Use money from pay raise                     High




                                                                                                                                                  Personal Financial Planner
Intermediate and Long-term Monetary Goals
                                                                             Months to
Description                                            Amount needed          achieve                Action to be taken                Priority




Nonmonetary Goals


Description                                              Time frame                                    Action to be taken
Example: set up file for personal financial records   Next 2-3 months      . Locate personal and financial records and documents.
and documents                                                              . Set up file for various spending, saving, borrowing categories.




What's Next for your Personal Financial Plan?


* Based on various financial goals, calculate the savings deposits necessary to achieve those goals.

* Analyze current economic trends that might influence various saving, spending, investing and borrowing decisions.
Name:                                                                  Date:

Monitoring Current Economic Conditions
Purpose: To monitor selected economic indicators that might influence your saving, investing, spending, and borrowing decisions.
Instructions: Using the Wall Street Journal , Internet searches, or other sources of economic informaiton, obtain current data           4
for various economic factors.
Suggested Web sites:             www.bls.gov                                   www.federalreserve.gov




Economic factor                                Recent trends                   Possible Influences on Financial Planning decisions
Example : Mortgage rates                       Decline in mortgage rates       .Consider buying a home.
                                                                               .Consider refinancing an existing mortgage.




                                                                                                                                     Personal Financial Planner
Interest rates




Consumer prices




Other:



Other:



Other:



Other:



Other:



Other:



Other:



Other:




What's Next for your Personal Financial Plan?


* Determine the economic factors that could affect your personal financial decisions in the next few years.
* Identify actions to take as a result of various current economic trends.
Name:                                                                               Date:

Time Value of Money Calculations
Purpose: To calculate future and present value amounts related to financial planning decisions.
Instructions: Use a calculator or future/present value tables to compute the time value of money.                                         5
Suggested Web sites:             www.dinkytown.net                                                       www.kiplinger.com/tools




Future Value of a Single Amount

               * to determine future value of a single amount




                                                                                                                                      Personal Financial Planner
                                                                   current                     future                future value
* to determine interest lost when cash purchase is made            amount           times   value factor equals        amount


                     (Use Exhibit 1-A in Chapter 1 Appendix)             $0.00        X         0.0000      =                 $0.00



Future Value of a Series of Deposits

                                                                                              future
       * to determine future value of regular savings deposits     regular                   value of
                                                                   deposit                   annuity                 future value
    * to determine future value of regular retirement deposits     amount           times     factor      equals       amount


                     (Use Exhibit 1-B in Chapter 1 Appendix)             $0.00        X         0.0000      =                 $0.00



Present Value of a Single Amount



                                                                    future
 * to determine an amount to be deposited now that will grow       amount                     present               present value
                                         to desired amount         desired          times   value factor equals        amount


                     (Use Exhibit 1-C in Chapter 1 Appendix)             $0.00        X         0.0000      =                 $0.00



Present Value of a Series of Deposits


                                                             regular                         present
                                                            amount to                        value of
  * to determine an amount that can be withdrawn on regular     be                           annuity                present value
                                                      basis withdrawn               times     factor      equals       amount


                     (Use Exhibit 1-A in Chapter 1 Appendix)             $0.00        X         0.0000      =                 $0.00


What's Next for your Personal Financial Plan?


* Identify various financial goals that require time value of money calculations.
* Research current interest rates to determine a rate that you might use when calculating time value of money for
  various personal financial goals.

				
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