Week 2 assignmentPF101

Week 2 assignmentPF101 - have money left over for...

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A personal cash flow statement helps me organize my finances by showing me exactly how much money I have coming in and where it goes. This worksheet gives me a detailed look into my household finances. I can better budget my money using this cash flow statement because it gives me a visual of the funds that are coming in as well as going out. It helps me to see where I need to allow more or less money for each item. The most interesting thing about completing the cash flow worksheet is seeing how little money is left after the bills are paid. Using the personal cash flow statement allows me to budget my money since I have very little left over. Because I have such a small amount of money left after paying my bills I must budget my money very closely and monitor what I am spending money on so I can see where I may be able to make cuts in order to
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Unformatted text preview: have money left over for emergencies or savings. I see that I could make cuts to reduce my families spending when it comes to dining out and new clothes. These two areas we seem to spend quit a lot of money that is not always necessary. Making cuts in these areas will allow for more savings and a little more cushion in the case of an emergency. I am looking forward to making some changes in the way my family spends money and using this personal cash flow worksheet to see what a difference the cuts have made. I believe that by making appropriate cuts where we can, my family and I will be well on our way to a stable financial future as well as teach the children the importance of budgeting and responsibility. My 13 year old has decided to use this worksheet to budget his allowance and start saving....
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