FP 101- Personal Cash Flow

FP 101- Personal Cash Flow - o How does a personal cash...

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o How does a personal cash flow statement help you organize your finances? A personal cash flow statement allows you to have a visual of what you budget and what you actually spend on monthly expenses. It allows you to organize your finances by giving you a more complete picture of where your money goes. It also allows you to make adjustments to allow for actual spending and amounts available for savings. It will help you to develop a path to reach your financial goals. It will also provide you a visual of frivolous spending. This will allow you to alter spending on unnecessary expenses if needed. At the end of last year we had to adjust our budget. Using a personal cash flow statement with a pie chart allowed us to see our biggest flexible expense was groceries. By adjusting our food budget, we were able to cut the bill in half. This allows us to put more money in savings. o What was the most interesting thing you learned about completing this worksheet? The most interesting thing I learned from completing the personal
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