Car Rental Company Cash Flow Budget Worksheet by rtu12219

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									STEP 1: SET YOUR GOALS




Setting solid, realistic goals can help you get rid of debt, stay out of debt, and attain the things you want. When you are developing your own
plan, first you must decide what you need and what you want. Use the following goal-planning checklist to prioritize your short-term,
intermediate-term, and long-term goals.

                                     Short Term (this year)                 Intermediate Term (one to five years)   Long Term (five plus years)

Debt
Liquidity (cash)
Savings
Retirement




                                                                        1
STEP 2: ADD UP YOUR DEBT




Use these worksheets to total up your debt.

Current Bills
Person or Company          Due Date                    Interest Rate                   Amount of Payment          Current Bill




Credit Cards
Name, Address, and
Phone Number of
Company                Credit Card Number     Number of Cards          Interest Rate            Minimum Payment        Balance



Phone



Phone



Phone




                                                                         2
Consumer Debt
Consumer Loans: Car Loans
Name and Address of                           Terms (interest rate, due
Creditor/Loan Number    Asset Pledged         date, original amount)      Location of Documents   Monthly Payment   Balance


Consumer Installment Loans
Name and Address of                           Terms (interest rate, due
Creditor/Loan Number     Asset Pledged        date, original amount)      Location of Documents   Monthly Payment   Balance




Savings Plan Loans
Name and Address of                           Terms (interest rate, due
Creditor/Loan Number      Asset Pledged       date, original amount)      Location of Documents   Monthly Payment   Balance




Lines of Credit
Name and Address of                           Terms (interest rate, due
Creditor/Account Number   Secured/Unsecured   date, original amount)      Total Available         Monthly Payment   Balance




Home Equity Loans
Name and Address of                           Terms (interest rate, due
Creditor/Account Number   Asset Pledged       date, original amount)      Location of Documents   Monthly Payment   Balance




                                                                            3
Mortgages and Land Contract
Name and Address of                       Terms (interest rate, due
Creditor               Asset Pledged      date, original amount)      Location of Documents   Monthly Payment   Balance




Stock/Securities Loans
                                          Terms (interest rate, due
Borrowed From          Security Pledged   date, original amount)      Location of Documents   Monthly Payment   Balance




Other Debt
Name and Address of                       Terms (interest rate, due
Creditor/Loan Number   Asset Pledged      date, original amount)      Location of Documents   Monthly Payment   Balance




                                                                        4
STEP 3: SET A BUDGET




This involves striking a balance between your cash flow and your bills. Use these worksheets to get a handle on your cash flow and to
create a budget.

Cash Receipts
This worksheet is to help you figure out what you have coming in. To use it effectively, follow these instructions and tips:

•    Enter the total salary and bonuses separately for you and your spouse. Include anticipated bonuses. If you or your spouse receives a salary from several companies, combine and
     present them as one figure.
•    Total net income from other unincorporated businesses resulting from personal services (for example, as a proprietor of a retail store) should be shown as a single figure.
•    Commissions and net income received from a professional proprietorship and partnership, as well as director’s fees, consulting fees, and royalties from creative works (books,
     records, etc.) should be included in “Other Earned Income.”
•    Include amounts received under pension plans, including Social Security or VA programs, in “Pension Income.”
•    Include estimates of amounts received as interest and dividends on cash, notes receivable, stocks, and bonds. Include the net rent and royalty income (after expenses) received from
     investments in real estate, equipment, rental, oil and gas, etc. Partnership and S Corporation distributions from investment or operating companies not representing earned income
     should be included as “Other Distributions of Income.”
•    Include under “Other Cash Receipts”, “Sale of Assets” gross receipts that are considered to be recurring because of long-term installments, sales contracts, or a consistent record of
     gains from trading stocks, bonds, or other investments. Also include amounts received as alimony or child support under Other Cash Receipts.


                                                                                                                                                                              Annual
    Month/Year                                                                                                                                                                Amount
    YOUR SALARY
    AND BONUS
    Salary
    Overtime
    Social Security
    Federal Income Tax
    Withholding
    State/City/Local
    Income Tax
    Withholding


                                                                                              5
Other Payroll
Deductions
Net
YOUR SPOUSE’S
SALARY AND
BONUS
Salary
Overtime
Social Security
Federal Income Tax
Withholding
State/City/Local
Income Tax
Withholding
Other Payroll
Deductions
Net
SUBTOTAL             $   $   $   $   $   $       $   $   $   $   $   $   $
NET INCOME
FROM UN-
INCORPORATED
BUSINESS
You
Your Spouse
OTHER EARNED
INCOME
You
Your Spouse
PENSION
INCOME
You
Your Spouse
INTEREST
INCOME
DIVIDEND
INCOME
NET INCOME
FLOW FROM
RENTAL
INCOME
OTHER
DISTRIBUTIONS
OF INCOME


                                             6
 OTHER CASH
 RECEIPTS
 Sale of Assets
 Alimony and Child
 Support

 TOTAL CASH              $       $     $        $   $   $       $   $   $   $   $   $   $
 RECEIPTS

Expenditures
Use this worksheet to total up your expenses.
 Month/Year                                                                             Annual
                                                                                        Amount
 Mortgage Payments or
 Rent                        $   $     $        $   $   $       $   $   $   $   $   $   $
 Utilities
 Housing Maintenance
 Property Insurance
 Property Taxes
 Home Furnishings
 SUBTOTAL
 FOOD AND HOUSING
 Groceries
 Household Supplies
 CLOTHING
 Clothing Purchases
 Cleaning
 SUBTOTAL
 TRANSPORTATION
 Car Payments
 Car Insurance
 Fuel,Repairs, parking and
 Mass Transit
 SUBTOTAL
 MEDICAL AND
 DENTAL INSURANCE
 AA: DELETE THIS
 ROW
 Life Insurance
 Disability Insurance
 Health Insurance
 SUBTOTAL


                                                            7
 ENTERTAINMENT
 AND RECREATION
 Vacation and Travel
 Vacation Home
 Entertainment
 Clubs and Other
 Recreation
 SUBTOTAL
 CONTRIBUTIONS
 DEBT REPAYMENT
 Credit Cards and
 Outstanding Bills
 Installment Debt
 Other Debt Repayment
 SUBTOTAL
 ESTIMATED TAX
 PAYMENTS
 MISCELLANEOUS
 EXPENSE
 Education Expenses
 Domestic Help
 and Day Care
 Alimony and Child
 Support Paid
 Union Dues
 Other Miscellaneous




 SUBTOTAL
 TOTAL                      $       $       $       $       $       $           $       $        $         $         $       $           $
 EXPENDITURES


Monthly Cash Flow Analysis
Use this worksheet to tie it all together—use the “bottom line” from your cash receipts and expenditures worksheets to complete this one.
 Month/Year                                                                                                                                  Annual
                                                                                                                                             Amount
 (1) TOTAL CASH         $       $           $       $       $       $           $       $        $         $         $           $           $
 RECEIPTS
 (2) TOTAL              (   )   (       )   (   )   (   )   (   )   (       )   (   )   (   )    (    )    (    )    (   )       (   )       (   )


                                                                        8
 EXPENSES



 (3) CASH
 AVAILABLE
 AFTER LIVING
 EXPENSES (1−2)
 (4) EXISTING
 SAVINGS
                       (    )     (    )   (   )   (    )    (    )    (       )   (   )    (   )     (    )    (    )    (    )     (   )     (    )
                       (    )     (    )   (   )   (    )    (    )    (       )   (   )    (   )     (    )    (    )    (    )     (   )     (    )
                       (    )     (    )   (   )   (    )    (    )    (       )   (   )    (   )     (    )    (    )    (    )     (   )     (    )
                       (    )     (    )   (   )   (    )    (    )    (       )   (   )    (   )     (    )    (    )    (    )     (   )     (    )
                       (    )     (    )   (   )   (    )    (    )    (       )   (   )    (   )     (    )    (    )    (    )     (   )     (    )
 (5) NET ANNUAL        $          $        $       $         $         $           $        $         $         $         $          $         $
 CASH FLOW
 (available for
 additional savings
 and investments)
 (3−4)


Monthly Budget Worksheet
Now that you have a handle on your monthly cash flow, use that information to set a budget. Keeping in mind the high interest debt you may
have on credit cards, the goal of your budget should be to free up as much cash as possible to put toward paying off the highest interest credit
card first (while paying the minimum on the other credit cards). Once that card is paid off, apply all of what you were using to pay it off toward
the next highest interest credit card. Keep this up until all your credit cards are paid off. Eventually, you’ll be able to apply all of what you were
paying toward credit cards to savings for your future—in a 401(k) or other investment vehicles.

The trick to freeing up cash to pay down your debt is to separate your fixed expenses (those that don’t vary from month to month, like a
mortgage or car payment) from variable expenses (like entertainment and food). Since you have more control over your variable expenses, you
can budget to spend less in those areas and use what you’ve saved to pay down your other debt.

TOTAL NET INCOME                                   $
(Monthly Cash Flow Analysis worksheet 1)
FIXED EXPENSES
House Payments                                     $
Property Taxes
(if not included in house payments)
Home Insurance

                                                                           9
(if not included in house payments)
Car Loan(s)
Utilities
Car Insurance
Health Insurance
Life Insurance
Other Installment Loans
Credit Card Payments (minimum amounts)
Other Fixed Expenses/Debts
VARIABLE EXPENSES
Car Operating Costs (gas, oil, tune-ups)
Food and Family Expenses
Meals Away from Home
Clothing
Entertainments
Gifts
Charitable Contributions
TOTAL EXPENSES (2)
SAVINGS
IRA (you)
IRA (your spouse)
Pension Contribution
Savings Account Deposit
Emergency Fund Deposit
Education Fund Deposit
TOTAL SAVINGS CONTRIBUTIONS (3)
TOTAL NET INCOME (1)
(minus) TOTAL EXPENSES (2) AND SAVINGS (3)                                   Keep reducing your variable expenses until you identify a monthly
(equals) SURPLUS OR (DEFICIT)                                                surplus that you can put toward your highest interest credit card.
SURPLUS TO PUT TOWARD HIGHEST INTEREST           $
CREDIT CARD


Debt Reallocation Worksheet
This worksheet summarizes your indebtedness that is subject to high interest rates and documents lower interest alternative loan sources. Based
on this information, you may want to refinance any higher interest loans. This form also helps you evaluate alternative loan sources you may
want to consider in light of the consumer interest deductibility limitations of the 1986 Tax Act (for example, replacing nondeductible credit and
debt with a deductible home equity loan).




                                                                       10
Date:________________________________

Amount        Current Indebtedness                                             Suggest Alternative(s)                                Approximate
                                     Current                                                         Current                         Annual Interest
              Lender                 Interest Rate   Prepayment Penalty        Lender                Interest Rate   Closing Costs   Savings
$                                              %                                                               %     $               $




                                                                          11
STEP 4: Plan for the Future




Credit Check
Checking your credit report is a vital step before you invest in a mortgage or take out a personal, business, or auto loan. Your credit file can
reveal black marks—such as late payments, overdraft charges, or other problems—that can prevent you from getting a lender’s best interest
rates. It can also help you determine if you’ve been a victim of identity theft.

All U.S. residents will be allowed one free credit report per year under the Fair and Accurate Credit Transactions Act. The so-called FACT Act
phases in the one free report per year across the nation, as follows:

• December 1, 2004: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington,
  and Wyoming.
• March 1, 2005: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota,
  and Wisconsin.
• June 1, 2005: Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee, and Texas.
• September 1, 2005: Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York,
  North Carolina, Pennsylvania, Rhode Island, Vermont, Virginia, and West Virginia.

You may request your free credit report under the FACT Act by contacting the Central Source at www.annualcreditreport.com or 1-877 FACT
Act (1-877-322-8228).

If you want your credit report earlier, some states already provide one free credit report per year to their residents. They are: Colorado, Georgia,
Maryland, Massachusetts, New Jersey, and Vermont.

You are also currently entitled to one free report every 12 months no matter where you live, if:

• You are unemployed and intend to apply for unemployment benefits
• You are receiving public welfare assistance
• You believe you have been a victim of fraud or identity theft

                                                                         12
• You have been denied credit, insurance, or employment due to your credit record

To get a copy of your credit report, contact one of the three credit agencies that collect information on you and your personal financial actions:

• Equifax (www.equifax.com) at 1-800-997-2493
• Experian (www.experian.com) at 1-800-397-3742
• Trans Union (www.transunion.com) at 1-800-888-4213

Annual Cash Flow Analysis
Fill out this worksheet to analyze your annual cash flow and plan for the future.

From ___/___/___ to ___/___/___
                         Current Year                                                Projections for Subsequent Years
Cash Receipts            200_                     200_                       200_                      200_                  Assumptions
GROSS SALARY             $                        $                          $                         $
AND OVERTIME
You
Your Spouse
NET INCOME FROM
UNINCORPORATED
BUSINESS
You
Your Spouse
OTHER EARNED
INCOME
You
Your Spouse
PENSION INCOME
You
Your Spouse
INTEREST INCOME
DIVIDEND INCOME
NET CASH FLOW FROM
RENTAL INCOME
OTHER
DISTRIBUTIONS
OF INCOME
OTHER CASH
RECEIPTS
Sale of Assets

                                                                        13
Alimony and Child Support
HOUSING
Mortgage Payments or Rent
Utilities
Housing Maintenance
Property Insurance
Property Taxes
Home Furnishings
SUBTOTAL
FOOD AND HOUSING
Groceries
Household Supplies
SUBTOTAL
CLOTHING
Clothing Purchases
Cleaning
SUBTOTAL
TRANSPORTATION
Car Payments
Car Insurance
Fuel, Repairs, and Parking
Mass Transit
SUBTOTAL
MEDICAL AND
DENTAL INSURANCE
DELETE THIS ROW
Life Insurance
Disability Insurance
Health Insurance
SUBTOTAL
ENTERTAINMENT
AND RECREATION
Vacation and Travel
Vacation Home
Entertainment
Clubs and Other Recreation
SUBTOTAL
CONTRIBUTIONS
DEBT REPAYMENT
Credit Cards and
Outstanding Bills
Installment Debt
Other Debt Repayment

                             14
SUBTOTAL
ESTIMATED TAX
PAYMENTS


MISCELLANEOUS
EXPENSE
Education Expenses
Domestic Help
and Day Care
Alimony and Child Support
Union Dues
Other Miscellaneous

SUBTOTAL
TOTAL CASH                  $                     $                          $                       $
RECEIPTS



Annual Cash Flow Summary
The Annual Cash Flow Summary may be completed for any 12-month period, although entries for receipts and expenditures should all cover
the same period of time.

• Include total receipts from all sources, whether taxable or not.
• Unreimbursed business expenses should be netted from gross income.
• Include nonrecurring sources of income only if you wish the plan to consider this income when making specific recommendations for the
  next 12 months.
• If you do not know the exact amount for each entry, estimate as best you can.
• Round entries to the nearest $100.

The summary that follows summarizes the cash receipts and expenditure figures accumulated on the remaining pages of the form. Line (3)
represents the cash available for application to savings, investments, or other financial planning goals after living expenses have been taken into
account. Line (4) should show any savings or investment commitments. Line (5) reflects the actual amount of cash to work with in making
preliminary decisions. Optional columns are provided for projections of subsequent years’ cash flow.

                            Current Year                                            Projections for Subsequent Years
Summary                     200_                  200_                       200_                     200_                   Assumptions
(1) TOTAL CASH              $                     $                          $                        $


                                                                        15
RECEIPTS
(2) TOTAL
EXPENDITURES
(3) CASH AVAILABLE
AFTER LIVING
EXPENSES (1) – (2)
(4) EXISTING SAVINGS
COMMITMENTS




(5) NET ANNUAL                 $                  $                         $                     $
CASH FLOW (available
for additional savings and
investments) (3) – (4)


Debt Reduction Forecaster
This worksheet is used to project future resources that may be used to reduce or retire debt. Sometimes, money is borrowed in anticipation of
these expected sources of funds.

Date:_________________________________

                                                                                                                            Amount of Proceeds
                                                  Estimated Amount          Expected Date        Description of Loan        to Be Used to Reduce
Source                                            Available                 Available            to Be Reduced or Retired   or Retire Debt
Bonuses                                           $                                                                         $
Proceed from Exercise of Stock Options
Profit Sharing Plan
Cash Surrender Value in Life Insurance Policies
Capital Gains
Maturing Time Deposits
Sale of Closely Held Business
Income Tax Refunds
Gifts
Inheritances
Substantial Increases in Salary
Sale of Personal Assets
TOTAL                                             $                                                                         $



                                                                       16
Borrowing Requirements Forecaster
This worksheet is used to project your future borrowing requirements. You should plan well ahead for expenditures that may or will
require borrowing.

Date:_________________________________

Time of Expenditure                             Description                                     Estimated Total Cost
SHORT TERM (within next year)
Month:
Month:
Month:
Month:
INTERMEDIATE TERM (two to five years)
Year 2
Year 3
Year 4
Year 5
LONG TERM (more than five years)
Year:
Year:
Year:



Purpose                                         Estimated Amount to Be Borrowed                 Loan Type/Duration
Home                                            $
Second Home                                     $
Home Improvements                               $

Cars                                            $

Education                                       $
Investment                                      $
Family Expenses (weddings, vacations)           $
Other                                           $



TOTAL                                           $



                                                                       17
Information Requests
The following are some helpful publications you may want to request to help you plan for the future.

To:                                                                           Contact:
Register a complaint or inquire about national banks                          Comptroller of the Currency
                                                                              Consumer Affairs Division
                                                                              Washington, DC 20219
Register a complaint or inquire about the Federal Reserve Bank                Director
                                                                              Division of Consumer and
                                                                                Community Affairs
                                                                              Board of Governors
                                                                              Federal Reserve System
                                                                              Washington, DC 20551
Request consumer credit publications:                                         National Foundation for
• National Foundation for Consumer Credit                                     Consumer Credit
                                                                              8701 Georgia Avenue
                                                                              Suite 601
                                                                              Silver Springs, MD 20910
                                                                              Phone: 301-589-5600
                                                                              www.nfcc.org

• Consumer Credit Counseling                                                  www.consumercreditcounseling.com

Request publications on credit rights and laws affecting                      Consumer Information
creditors and credit bureaus:                                                 P.O. Box 100
• Consumer Information Catalog (free)                                         Pueblo, CO 81002
• Choosing a Credit Card (free)
• Buying and Borrowing: Cash In On the Facts (425R) (50 cents)
• Fair Credit Reporting Act (426R) (50 cents)
                                                                      18
• Fair Debt Collection (427R) (50 cents)
Request other publications on credit:                                        Publication Services
• Consumer Handbook to Credit Protection Laws                                Division of Support Services
• What Truth in Lending Means to You                                         Board of Governors
• How to File a Consumer Credit Complaint                                    Federal Reserve System
• The Equal Credit Opportunity Act and Age                                   Washington, DC 20551
• The Equal Credit Opportunity Act and Women
• The Equal Credit Opportunity Act and Doctors, Lawyers,
  and Small Retailers
• The Equal Credit Opportunity Act and Credit Rights in Housing
• Fair Credit Billing
• Truth in Leasing
• If You Use a Credit Card
• Alice in Debitland: Consumer Protections and the Electronic Fund
  Transfer Act
Request bankruptcy information:                                              American Financial Service
• What You Should Know Before Declaring Bankruptcy                             Association
                                                                             1101 Fourteenth Street, NW
                                                                             Washington, DC 20005

Inquiry about no/low rate credit cards:                                      Bankcard Holders of America
• Request a list of financial institutions offering low interest rate        460 Spring Park Place
  or no-annual-fee credit cards                                              Herndon, VA 22070

Forms
Use the following form to start making the commitments to repay your debt.




                                                                        19
                               Commitment to Repay




I,                                , have borrowed money from
                 (debtor)

                                , to pay for                                  .
            (lender)                                  (purpose)

I hereby promise to repay by                                 and before any
                                          (date)
new debts are incurred.




               DEBTOR                                    DATE




                                                       20

								
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