Personal_Finance

Personal_Finance - If you're serious about building wealth...

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Unformatted text preview: If you're serious about building wealth, you'll need the right attitude and the right tools. This model is intended to help you gain the financial literacy required. It is very simple because building wealth is very simple - in concept. The formats used in this workbook are straightforward and useful as a starting point for organizing personal finances for most people. You can enter your data directly into the worksheets or use them as a guide to create your own worksheets. No warranty is expressed or implied about their suitability to your situation, and we suggest obtaining professional accounting advice if your situation is complex or uncertain. Start Here Copyright © 2007 - 2009 by ROI-Team, Inc. All rights reserved. How Your Money Works for You Your Name First Year Plan Date Name 2009 31-Dec-08 Income Income - Job - Job - - BBank Interest ank Interest - Stock Dividends - Stock Dividends - Inheritance - Inheritance - - eetc. tc. Assets Assets - - SStocks tocks - Bonds - Bonds - Mutual Funds - Mutual Funds - - Real Estate Real Estate - etc. - etc. Expenses Expenses - - Housing Housing - Food - Food - Utilities - Utilities - - TTransportation ransportation - Taxes - Taxes - etc. - etc. Excess Excess e65172b79c9f0871ffc11bbc2d853a6bc909f082.xls Intro Liabilities Liabilities - - Mortgage Mortgage - Car Payments - Car Payments - Credit Card Debt - Credit Card Debt - - eetc. tc. Someone Someone Else's Else's Wealth Wealth Equity Equity This is your Net This is your Net Worth, equal to Worth, equal to Assets minus Assets minus Liabilities Liabilities 12/14/2011 19:01:39 Name Income Employment Job 2 Job 3 Job 4 Stocks Certificates of Deposit Bonds Mutual Funds Other Other Planned Income Expenses Housing Food Clothing Utilities Medical Entertainment Taxes Other Other Other Planned Expenses Planned Net Cash Flow Cumulative Cash Flow Summary Planned Salaries/Wages Planned Other Income Plan: 31-Dec-08 Full Year 2009 12,000 15,000 2010 15,000 Income Plan - 10 Year Track 2011 25,000 2012 28,000 2013 35,000 10,000 2014 45,000 15,000 2015 47,250 15,750 2016 49,613 16,538 2017 52,093 17,364 2018 54,698 18,233 100 130 169 220 27,000 15,000 25,000 28,000 45,000 60,000 63,100 66,280 69,627 73,150 12,000 2,500 1,000 2,000 500 1,000 5,400 12,000 2,500 1,000 2,000 500 1,000 3,000 12,000 2,500 1,000 2,000 500 1,000 5,000 12,000 2,500 1,000 2,000 500 1,000 5,600 12,000 2,500 1,000 2,000 500 1,000 9,000 12,000 2,500 1,000 2,000 500 1,000 12,000 24,000 3,500 2,000 3,000 1,000 2,500 12,620 24,000 3,675 2,100 3,150 1,050 2,625 13,256 24,000 3,859 2,205 3,308 1,103 2,756 13,925 24,000 4,052 2,315 3,473 1,158 2,894 14,630 24,400 22,000 24,000 24,600 28,000 31,000 48,620 49,856 51,155 52,522 2,600 2,600 (7,000) (4,400) 1,000 (3,400) 3,400 - 17,000 17,000 29,000 46,000 14,480 60,480 16,424 76,904 18,471 95,375 20,629 116,004 27,000 - 15,000 - 25,000 - 28,000 - 45,000 - 60,000 - 63,000 100 66,150 130 69,458 169 72,930 220 e65172b79c9f0871ffc11bbc2d853a6bc909f082.xls I Plan 12/14/2011 19:01:39 Name Income Employment Job 2 Job 3 Job 4 Stocks Certificates of Deposit Bonds Mutual Funds Other Other Actual Income Actual - Year End Full Year 2009 Income Actual Record - 10 Year Track 2010 2011 2012 2013 2014 2015 2016 2017 2018 - - - - - - - - - - - - - - - - - - - - Actual Net Cash Flow Cumulative Cash Flow - - - - - - - - - - Summary Actual Salaries/Wages Actual Other Income - - - - - - - - - - Expenses Housing Food Clothing Utilities Medical Entertainment Taxes Other Other Other Actual Expenses e65172b79c9f0871ffc11bbc2d853a6bc909f082.xls Income 12/14/2011 19:01:39 Income History 80,000 70,000 Actual Income Planned Income Actual Expenses Planned Expenses Actual Net Cash Flow Planned Net Cash Flow 60,000 50,000 4 0,000 30,000 20,000 20 18 20 17 20 16 20 15 20 14 20 13 20 12 20 11 (10,000) 20 10 - 20 0 9 1 0,000 (20,000) e65172b79c9f0871ffc11bbc2d853a6bc909f082.xls I Chart 12/14/2011 19:01:40 Wealth Track 80,000 Actual Net Cash Flow 70,000 Actual Salaries/Wages Actual Other Income Planned Net Cash Flow Planned Salaries/Wages Planned Other Income 60,000 50,000 4 0,000 30,000 20,000 10,000 2 011 2 012 2013 2014 2015 2016 20 1 2010 20 15 2009 (10,000) 20 14 2017 2018 (20,000) 140,000 Actual Net Worth 120,000 Planned Net Worth 100,000 8 0,000 6 0,000 4 0,000 20,000 20 18 20 17 6 20 13 20 12 20 11 20 0 20 10 9 (20,000) (40,000) e65172b79c9f0871ffc11bbc2d853a6bc909f082.xls Wealth 12/14/2011 19:01:40 Name Assets Cash Savings Checking Other Stocks Certificates of Deposit Bonds Mutual Funds Prepaid Insurance Other Other Total Current Assets Plan: 31-Dec-08 December 31 of 2009 1,000 2010 2011 1,000 1,000 2013 1,000 1,000 2014 2015 1,000 1,500 1,500 Home Second Home Personal Property Automobiles Other Other Other Other Other Loans to Others Retirement Accounts IRA 401k/Profit Sharing Other Tax Deferred Planned Assets Liabilities Automobile Loans Credit Card Debt Housing Line of Credit Other Loans Outstanding Total Current Liabilities 1,000 1,000 1,000 1,000 1,000 1,000 3,000 6,000 9,000 Planned Net Worth Total Liabilities & Net Worth 2017 2018 10,000 10,000 10,000 13,000 16,000 19,000 22,000 1,654 1,736 1,823 5,320 9,852 14,837 2,775 6,974 11,588 16,660 360,500 371,315 382,454 352,775 367,474 382,903 399,115 10,000 11,000 1,575 12,000 10,000 1,500 - Home Mortgage Other Notes Payable Other Long-term Debt Planned Liabilities 2016 350,000 1,000 1,000 2012 1,200 1,000 1,000 Planned Balance Sheet - 10 Year Track - - - - 300,000 282,270 273,802 300,000 291,000 282,270 273,802 11,000 13,000 16,000 19,000 22,000 (10,000) (12,000) (15,000) (18,000) (21,000) 1,500 52,775 76,474 100,633 125,313 1,000 1,000 1,000 1,000 1,000 1,500 352,775 367,474 382,903 399,115 e65172b79c9f0871ffc11bbc2d853a6bc909f082.xls B Plan - 291,000 12/14/2011 19:01:40 Name Assets Cash Savings Checking Other Stocks Certificates of Deposit Bonds Mutual Funds Prepaid Insurance Other Other Total Current Assets Actual - Year End December 31 of 2009 Actual Balance Record - 10 Year Track 2010 2011 2012 2013 2014 2015 2016 2017 2018 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Actual Net Worth - - - - - - - - - - Total Liabilities & Net Worth - - - - - - - - - - Home Second Home Personal Property Automobiles Other Other Other Other Other Loans to Others Retirement Accounts IRA 401k/Profit Sharing Other Tax Deferred Total Assets Liabilities Automobile Loans Credit Card Debt Housing Line of Credit Other Loans Outstanding Total Current Liabilities Home Mortgage Other Notes Payable Other Long-term Debt Total Liabilities e65172b79c9f0871ffc11bbc2d853a6bc909f082.xls Balance 12/14/2011 19:01:40 Balance Sheet Summary 4 50,000 4 00,000 Actual Net Worth Total Assets Planned Net Worth Planned Assets 350,000 300,000 250,000 200,000 150,000 100,000 50,000 e65172b79c9f0871ffc11bbc2d853a6bc909f082.xls B Chart 8 20 1 7 20 1 6 20 1 5 20 1 4 20 1 3 20 1 2 20 1 0 1 20 1 20 0 (50,000) 20 1 9 - 12/14/2011 19:01:40 Name Plan: Where it came from Annual salaries & wages Annual Other Income Sale of assets Increase in liabilities Full Year 2009 27,000 11,000 2010 15,000 2,000 2011 25,000 3,000 2012 28,000 3,000 2013 45,000 3,000 2014 60,000 - 2015 63,000 100 300,000 2016 66,150 130 - 2017 69,458 169 - 2018 72,930 220 - 38,000 17,000 28,000 31,000 48,000 60,000 363,100 66,280 69,627 73,150 24,400 1,000 - 22,000 - 24,000 - 24,600 - 28,000 - 31,000 500 22,000 48,620 351,275 - 49,856 14,699 9,000 51,155 15,430 8,730 52,522 16,211 8,468 25,400 22,000 24,000 24,600 28,000 53,500 399,895 73,555 75,315 77,201 12,600 12,600 (5,000) 7,600 4,000 11,600 6,400 18,000 20,000 38,000 6,500 44,500 (36,795) 7,705 (7,275) 430 (5,688) (5,258) (4,051) (9,309) Total from sources Where it went Annual expenses Purchase of assets Paid off liabilities Total to uses Net Cash Cumulative Net Cash 31-Dec-08 e65172b79c9f0871ffc11bbc2d853a6bc909f082.xls C Plan Actual Cash Flow - 10 Year Track 12/14/2011 19:01:41 Name Where it came from Annual salaries & wages Annual Other Income Sale of assets Increase in liabilities Total from sources Where it went Annual expenses Purchase of assets Paid off liabilities Total to uses Net Cash Cumulative Net Cash Actual - Full Year Full Year 2009 Actual Cash Flow - 10 Year Track 2010 2011 2012 2013 2014 2015 2016 2017 2018 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - e65172b79c9f0871ffc11bbc2d853a6bc909f082.xls Cash 12/14/2011 19:01:42 ...
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This note was uploaded on 12/14/2011 for the course MGT 268 taught by Professor Paragkosalge during the Spring '08 term at Grand Valley State.

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