- Introduction
- Priorities
- Goals
- Income Versus Expenses
- Future Cash Flow
- Creative Ways to Start Saving
- The Time Value of Money
- Painless Ways to Boost Savings
- The Need for an Emergency Fund
Now construct a future cash flow or a spending plan. Print out the following worksheet and fill it in. Think bare bones. What is the absolute minimum it would take to feed and house your family?
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Monthly Cash Flow |
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Savings/Investing |
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Federal & State Taxes |
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Mortgage or rent |
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Home repair/maintenance |
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Property taxes |
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Life/disability insurance |
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Home/renter's insurance |
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Auto insurance |
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Credit card/loan payment |
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Utilities & telephone |
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Food (include eating out) |
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Clothing |
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Grooming |
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Gasoline |
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Auto repair/maintenance |
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Other transportation |
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Medical care |
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Education |
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Child Care |
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Alimony/child support |
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Entertainment |
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Vacations |
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Gifts/charitable contributions. |
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Laundry/dry cleaning |
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Others: |
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(a)Total Expenses |
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(b) Income |
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(c) Cash Balance (b) – (a) |
It takes a lot of time to put a plan together, but if you do it well and thoroughly, you'll have something to aim for. It may not work out exactly as you've planned but a plan will give you a way to measure your progress.
