Week 2 Assignment - discrepancy there was all together....

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1. How does a personal cash flow statement help you organize your finances? I believe making a personal cash flow statement; first helps you physically see were your money is going. Sometimes you spend money and do not know exactly where you have spent it. At least this happens to me. It also shows you difference in how much you spend, and how much you exactly have coming into your household. You can also see where you are spending too much money, and at the same time not enough money. 2. What was the most interesting thing you learned about completing this worksheet? The most important thing I learned while completing this worksheet was actually seeing how much money I have coming into the household. Compared to how much money I have going out the household. I always knew that there was a discrepancy, but I was not aware of how big that
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Unformatted text preview: discrepancy there was all together. Making this cash flow statement really made me aware of the changes that I need to make in my budget. How I am going to do that is the question. I do not have a lot of unnecessary things that my money goes out to. 3. Did this worksheet provide you with any ideas about how you many want to change your budget? Yes, after looking over the worksheet I am aware of some of the changes I need to make in our budget. I should definitely make a change in how much I have set aside for my savings, emergency funds, and life insurance. Currently we do not have any life insurance policies. A life insurance policy is something important to have. You never know what could happen in the future. I would not want to leave my family with the burden of paying for my funeral expenses....
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This note was uploaded on 12/02/2010 for the course FP/101 FP/101 taught by Professor Nicoleramig during the Summer '10 term at University of Phoenix.

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