Daily Spending Log- Unit 1

Directions: Please record every penny you spend each day,

beginning no later than Thursday (the second day of this class) and
ending Monday (the day before the unit ends). Your daily spending
log for week two will begin the following day (Tuesday).

Place the amount you have spent in the categories provided below.
Additional categories can be added in columns J and K. Make sure
you record cash spent and credit card charges. If you have more than
one transaction for the same category, total the amounts spent and
add it to the appropriate cell in this worksheet. The total expenditures
in column M will automatically compute for each day. Explain daily
expenditures in the comments section in column N. If your entire
comment does not appear in column N, double-click on the row
dividing line to automatically enlarge the cell to fit the text.

Provide a brief summary of your expenditures for week one in row 16.
Identify categories within your daily spending log that could be
reduced to decrease the total amount of your spending.

Please save this spreadsheet each time you add information.

When you are ready to submit, save your workbook by clicking the
Office button at the top of your spreadsheet then click Save As. Name
the file Username-AB104 Financial Plan Workbook Unit#.xlsx
Week
(Example:1: TAllen-
Enter AB104
the spending log dates
Financial Plan below.
Workbook Unit1.xlsx).

(Enter date started here)

Date Day of week

6-Aug-22 Wednesday
7-Aug-22 Thursday
8-Aug-22 Friday
9-Aug-22 Saturday
10-Aug-22 Sunday
11-Aug-22 Monday

Summary - Answer the two summary questions below.

1. Provide a brief summary of your expenditures for week one.

2. Identify categories within your daily spending log that could be

reduced to decrease the total amount of your spending.

I see how much money I have saved on gas since I parked my car
and started using my motocycle. Gas prices are on the rise and
unaffordable. These days since the start of that war across the US.
Also I know I have to lose my gaming habits it really takes a bit out of
me..
Auto Food Health, Education Recreation Donations Laundry Add Add
motocycle (H) Home Personal Leisure Category Category
(S) Self Care

$7.00 (h) 30.00 $0.00 $0.00 $25.00 $0.00 $0.00

$0.00 (s).99 $0.00 $0.00 $10.00 $0.00 $0.00
$0.00 $0.00 8,65 $0.00 $0.00 $0.00 $5.00
$0.00 $100.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $15.00 $0.00 $0.00
$0.00 $17.00 $0.00 $0.00 $12.00 $0.00 $15.00
Running Total:
gas for 147.99 8.65 ram 62.00 20.00
motocy was to go oit of gaming laundry
cle and toilet for the
grocery paper week

could 62.00
have had O
saved not went
47.99 to- gaming
go-
orders
 Other Total Spent Comments:

$32.00
$10.00
$5.00
$100.00
$15.00
$44.00
Running Total: $206.00
grand total saving would have been 109.99
Daily Spending Log- Unit 2
Directions: Please record every penny you spend each day,
beginning Tuesday (the last day of Unit 1) and ending Monday (the
day before the unit ends).
Your daily spending log for week three will begin the following day
(Tuesday).

Place the amount you have spent in the categories provided below.
Additional categories can be added in columns J and K. Make sure you
record cash spent and credit card charges. If you have more than one
transaction for the same category, total the amounts spent and add it to
the appropriate cell in this worksheet. The total expenditures in column
M will automatically compute for each day. Explain daily expenditures in
the comments section in column N. If your entire comment does not
appear in column N, double-click on the row dividing line to
automatically enlarge the cell to fit the text.

Provide a brief summary of your expenditures for week two and answer
each question posted below.

Please save this spreadsheet each time you add information. When
you are ready to submit, save your workbook by clicking the Office
button at the top of your spreadsheet then click Save As. Name the file
Username-AB104
Week 2: Enter Financial Plan Workbook
the spending log datesUnit#.xlsx
below. (Example:
TAllen- AB104 Financial Plan Workbook Unit1.xlsx)
(Enter date started here)
Date Day of week Auto

Tuesday
Wednesday
Thursday
Friday
Saturday
Sunday
Monday

Summary - Answer the three summary questions below.

1. Provide a brief summary of your expenditures for week two.
2. What information from your daily spending log might encourage
you to reconsider various money management actions?

3. How can your daily spending log assist you when planning and
implementing a budget?
Food Health, Education Recreation Donations Laundry Add Add Other
(H) Home Personal Leisure Category Category
(S) Self Care

Running Total:
Total Spent Comments:

$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Unit 2: Worksheet 2.1 Personal Financial Goals
Setting goals for your financial future is an important step
in the financial planning process. This sheet can be used
to help you plan for your financial success.

This worksheet is divided into three separate areas:

* Short-term goals are goals to be obtained in one year or

less.
* Intermediate goals are goals which are obtainable in two
to five years.
* Long-term goals are goals which is obtainable after five
years.

Steps:
1. Place each goal in the appropriate area and indicate
the priority, expected date of completion, and the estimate
of cost each week. Provide goal comments in column G.
2. Once completed, make sure you carry over the monthly
costs for your investments to your U2 2.2 Personal
Annual Budget worksheet.

AB104 Worksheet 2.1 Personal

Financial Goals Worksheet
Name:
Date:

Short-Term Goals (1 year or less)

Expected Date of
Goal Priority Completion

Intermediate-Term Goals (2 to 5 years)

Expected Date of
Goal Priority Completion
Long-Term Goals (6 + years)
Expected Date of
Goal Priority Completion
Estimate of Estimate of Estimate of
Comments
Cost/Week Cost/Month Cost/Year
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00

Estimate of Estimate of Estimate of

Comments
Cost/Week Cost/Month Cost/Year
 $0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00

Estimate of Estimate of Estimate of

Comments
Cost/Week Cost/Month Cost/Year
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
Unit 2: Worksheet 2: Personal Annual Budget
A budget is a forecast of your income and expenses and is very important to
insure a secure financial future.
A budget is a specific plan for spending income which is also called a
spending plan.
Steps:
1. Enter your estimated income for each month in rows 5 through 8.
2. Navigate through the categories and enter any expenses you think you
may have in the upcoming year. Please remember to include the auto or life
insurance premiums.
3. The totals category (row 8, 19, 28, 37, 44, 54, 63, 70, 80, 88, 96, 104) will
indicate how much money you will spend in each category by month.
4. Your total expenses will display in row 106.
5. Your surplus or deficit of money available will be displayed in row 107.
This is computed by deducting your total expenses from your total income.
6. Once you have
completed your budget for the year, go to worksheet "U2 2.3 Questions" and
answer the questions.

Jan

INCOME
Wages $0.00
Interest/dividends $0.00
Miscellaneous $0.00
Income totals $0.00
EXPENSES
Home
Mortgage/rent
Utilities $0.00
Home telephone $0.00
Cellular telephone $0.00
Home repairs $0.00
Home improvement $0.00
Home security $0.00
Garden supplies $0.00
Home totals $0.00

Daily living
Groceries $0.00
Child care $0.00
Dry cleaning $0.00
Dining out $0.00
Housecleaning service $0.00
Dog walker $0.00
Daily living totals $0.00
Transportation
Gas/fuel $0.00
Insurance $0.00
Repairs $0.00
Car wash/detailing services $0.00
Parking $0.00
Public transportation $0.00
Transportation totals $0.00

Entertainment
Cable TV $0.00
Video/DVD rentals $0.00
Movies/plays $0.00
Concerts/clubs $0.00
Entertainment totals $0.00

Health
Health club dues $0.00
Insurance $0.00
Prescriptions $0.00
Over-the-counter drugs $0.00
Co-payments/out-of-pocket $0.00
Veterinarians/pet medicines $0.00
Life insurance $0.00
Health totals $0.00

Vacations
Plane fare $0.00
Accommodations $0.00
Food $0.00
Souvenirs $0.00
Pet boarding $0.00
Rental car $0.00
Vacations totals $0.00

Recreation
Gym fees $0.00
Sports equipment $0.00
Team dues $0.00
Toys/child gear $0.00
Recreation totals $0.00

Dues/subscriptions
Magazines $0.00
Newspapers $0.00
Internet connection $0.00
Public radio $0.00
Public television $0.00
Religious organizations $0.00
Charity $0.00
Dues/subscription totals $0.00

Personal
Clothing $0.00
Gifts $0.00
Salon/barber $0.00
Books $0.00
Music (CDs, etc.) $0.00
Personal totals $0.00

Financial obligations
Long-term savings $0.00
Retirement (401k, Roth IRA) $0.00
Credit card payments $0.00
Income tax (additional) $0.00
Other obligations $0.00
Financial obligation totals $0.00

Misc. payments
Other $0.00
Other $0.00
Other $0.00
Other $0.00
Other $0.00
Misc. payments totals $0.00

Total expenses $0.00

Cash short/extra $0.00
Feb March April May June July Aug

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
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$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
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$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
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$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
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$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
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$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
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$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
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$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Sept Oct Nov Dec Year

$0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00
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$0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00
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$0.00 $0.00 $0.00 $0.00 $0.00

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$0.00 $0.00 $0.00 $0.00 $0.00
$0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00

$0.00 $0.00 $0.00 $0.00 $0.00
Unit 2: Worksheet 3: Questions
Sometimes unexpected events happen in our lives, and our
cash flow is affected. Do you have a plan in place? Answer
the following questions.

1. What would you do if you suddely lost your job and had no
income?

2. How long would you be able to survive finacially?

3. Discuss the importance of having a financial plan.

4. What could be the long-term effects from this situation?

Daily Spending Log- Unit 3
Directions: Please record every penny you spend each day, beginning Tuesday (the last
day of Unit 2) and ending Monday (the day before the unit ends).
At the end of this unit ,your daily spending log will provide a summary of three weeks of
total expenditures.

Place the amount you have spent in the categories provided below. Additional categories
can be added in columns J and K. Make sure you record cash spent and credit card
charges. If you have more than one transaction for the same category, total the amounts
spent and add it to the appropriate cell in this worksheet. The total expenditures in column
M will automatically compute each day. Explain daily expenditures in the comments section
in column N. If your entire comment does not appear in column N, double-click on the row
dividing line to automatically enlarge the cell to fit the text.

Provide a brief summary of your expenditures for week three and answer each question
posted below.

Please save this spreadsheet each time you add information. When you are ready to
submit, save your workbook by clicking the Office button at the top of your spreadsheet
then click Save As. Name the file Username-AB104 Financial Plan Workbook Unit#.xlsx
(Example: TAllen- AB104 Financial Plan Workbook Unit1.xlsx)

Week 3: Enter the spending log dates below.

(Enter date started here)

Date

Summary - Answer the three summary questions below.

1. Provide a brief summary of your expenditures for week three.
2. Are there any banking fees that you encounter each month? What actions might be
taken to reduce or eliminate these cash outflows?

3. What other areas of your daily spending might be reduced or revised?

Day of week Auto Food Health, Education Recreation Donations Laundry Add
(H) Home Personal Leisure Category
(S) Self Care

Tuesday
Wednesday
Thursday
Friday
Saturday
Sunday
Monday
Add Other Total Spent Comments:
Category

$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Running total: $0.00
Unit 3: Worksheet 1: Balance Sheet
The personal balance sheet is a summary of your assets (what you own), your liabilities (what you
owe), and your net worth (assets minus liabilities).

Steps:
1. List the value of your assets according to the categories in column B of the worksheet.
2. List the value of your liabilities according to the categories in column E of the worksheet.
3. The net worth is calculated and displayed in cell E34.

*Net worth = total assets (B37) minus total liabilities (E32)

*Total assets = total liabilities (E32) + net worth (E34)

Balance Sheet
Liquid Assets
Cash on hand
Checking accounts
Savings account
Money market accounts
Certificate of deposit
Short term investments
Total Liquid Assets

Real Property
Primary Residence
Second Home
Other
Total Real Property

Investments
Stocks
Bonds
Mutual Funds
Retirement Fund, IRA
Other
Total investment Assets

Personal Property
Auto
Auto
Recreation Vehicles
Household furnishings
Jewelry and artwork
Other
Other
Total Personal Property

Total Assets
 Current Liabilities
$0.00 Utlities $0.00
$0.00 Rent $0.00
$0.00 Insurance premiums $0.00
$0.00 Taxes $0.00
$0.00 Medical/dental bills $0.00
$0.00 Repair bills $0.00
$0.00 Bank Credit Card bills $0.00
Store Credit Card bills $0.00
Travel/entertainment bills $0.00
$0.00 Gas credit cards $0.00
$0.00 Bank line of credit $0.00
$0.00 Other liabilities $0.00
$0.00 Other liabilities $0.00
Total Current Liabilities $0.00

$0.00 Long-term Liabilities

$0.00 Mortgage $0.00
$0.00 Second Mortgage $0.00
$0.00 Investment mortgage $0.00
$0.00 Auto Loans $0.00
$0.00 Home improvement loan $0.00
Single-payment loans $0.00
Student loans $0.00
$0.00 Other long term loans $0.00
$0.00 Other long term loans $0.00
$0.00 Total Long- term Liabilities $0.00
$0.00
$0.00 Total Liabilities $0.00
$0.00
$0.00 Net Worth $0.00
$0.00

$0.00 Total Liablities & Net Worth $0.00

Unit 3: Worksheet 2: Personal Income
and Expense Statement
A Personal Income and Expense Statement is a cash basis statement that
shows the actual cash receipts and actual expenditures for a certain period
of time. This statement includes all income and expenses for the month.
Total income minus total expenses will provide you with your cash surplus
or cash deficit. If your total income is greater than your total expenses, you
will have a cash surplus. If your total income is less than your total
expenses, you will have a cash deficit.

Steps:
1. List all of your income.
2. List all of your expenses according to each category.
3. The cash surplus or cash deficit is automatically calculated in cell D59.
Cash surplus/deficit formula: total Income (D20) minus total expenses
(D57).

Name Laura Briseno

For the period of 5/1/2022-5/31/2022

Income
Wages and Salaries Name of Earner:
Name of Earner:
Name of Earner:
Self-employment Income
Bonuses and Commissions
Investment Income

Pensions and Annuities

Other Income
TOTAL INCOME

Expenses
Housing

Utilities
Food

Transportation

Medical

Clothing
Insurance

Taxes

Credit Cards
Major purchases

Personal Care

Entertainment

Other Items
 $3,542.00
$0.00
$0.00
$0.00
$0.00
Interest received $0.00
Dividend received $0.00
Rents received $0.00
Sale of Securities $0.00
Other $0.00
Other $0.00
$0.00
$0.00
$3,542.00

Rent/Mortgage payment
$350.00

Repairs, maintnenace,
improvements $0.00
Gas $20.00
Electric $50.00
Water $30.00
Phone $51.00
Cable $89.00
Other $0.00
Groceries $255.00
Dining Out $230.00
Auto Loan Payments $0.00
Licenses plates, fees $0.00
Gas, oil, tires, repairs $35.00
Health major medical,
insurance $0.00
Doctor $0.00
Dentist $0.00
Medicines $34.00
Clothes shoes, accessories $0.00
Homeowner's
Life Insurance $0.00
Auto Insurance
Income and Social Security $0.00
Property (if not included in
mortgage) $0.00
Loan payments $0.00
Loan payments $0.00
Repairs & maintnenance $0.00
cosmetics, hair care etc.

$0.00

Other $0.00
Vacations $0.00
camping/fishing $120.00
student loan payments $0.00
Gifts $0.00
Charitable contributions $0.00

TOTAL EXPENSES $1,264.00

Cash Surplus (or Deficit) $2,278.00

Unit 4: Worksheet 1: Mortgage Refinance Analysis
This worksheet will assist you in making the decision to re-finance your current
mortgage or not. It will look at the savings you may receive if you refinance you
existing mortgage.
Steps:

1.    Enter your current monthly payment.

2.    To find out what the new payment amount will be go to http://www.bankrate.com. Click on “mortgage r

3. Pre-tax savings on monthly payment will be automatically calculated (H12 - H13).

4. Calculate the taxes on your monthly savings. Even though you may be saving money with the refinance

5. The monthly savings after tax will be automatically calculated in cell H17.
6. Enter the costs to refinance your mortgage. Check your mortgage papers or
lender’s policy to find the prepayment penalty.
7. The months to breakeven are automatically calculated in cell H22. This is
calculated by taking the total refinancing costs (H21) and dividing it by your monthly
savings after tax (H17).
Blank
Blank
Blank

Blank

Blank

Blank
Blank
Blank
Blank
Blank
Blank

Blank
Item/Description Amount
1. Current monthly payment $0.00
2. New monthly payment $0.00
3. Monthly savings, pretax (Item 1 - Item
2) $0.00
4. Income Tax Bracket (Enter as
decimal) 0%
Tax on monthly savings (Item 3 x Item 4) $0.00
5. Monthly savings, after-tax (Item 3 - Item $0.00
6. Costs to refinance:
a. Prepayment penalty $0.00
b. Total closing costs (after tax) $0.00
c. Total refinancing costs (Item 6a + 6b) $0.00
7. Months to breakeven (Item 6c/Item
5) #DIV/0!
Unit 4: Worksheet 2: Home Affordability
Analysis
Directions: There are nine items to fill in on this sheet.

Item 1 (Include all income)

Item 3 (An average lender's affordability ratio has been
provided. This can range from 28 to 33 percent depending on
lender.)
Item 5 (Do some research on houses in your area to determine
the combined monthly tax and insurance payment.)
Item 7 (research for current interest rates)
Item 8 (determine the number of years for loan. This is usually
15 or 30).
Item 9 (Find this value by using Item 7 and Item 8 and Table of
Monthly Mortgage Payments (below).)
Item 11 (How much do you have available for a downpayment?)

Name:
Item
1
2
3
4
5

6
7
8
9

10

11

12
 Date:
Description
Amount of annual income
Monthly income (Item 1 divided by 12)
Average lender's affordabilitiy ratio
Maximum monthly mortgage payment (PITI)
Estimated monthly property tax and homeowner's
insurance payment
Maximum monthly loan payment (Item 4-Item 5)

Approximate average interest rate on loan

Planned loan maturity (years)

Mortgage payment per $1000
Maximum loan based on monthly income
$10,000 x (Item 6 divided by Item 9)
Funds available for making a down payment

(Note: Closing costs are separate from down payment

and should be considered when purchasing a home)

Maximum purchase price based on available monthly

income

Table of Monthly Mortgage Payments

 Using the Table of
Monthly Mortgage
Payment (left side)
Instructions:

1. Find the interest rate

in the first column for
your loan.

2. Locate the value that

corresponds to the
length of your loan.

3. Place this number in

Line 9 of this worksheet.
Amount

30%
$0.00

$0.00
$0.00

#DIV/0!

#DIV/0!
Unit 5: Worksheet 1: How's My Credit?
This worksheet will help you to determine your debt safety ratios. It indicates the amount of debt you have
compared to your income. The debt safety ratio will indicate the percentage of your monthly income that is
attributed to debt (what you owe). When completing this worksheet, you will use your monthly income and
total monthly debt to calculate your debt ratio.

Steps:
-Enter your monthly loan payments and take home pay.
-The debt safety ratio will automatically calculated by taking your total monthly payments and dividing it by
total monthly take home pay. That amount will be multiplied by 100. We use 100 because we are looking f
percentage.
- Example: $1500 (total Monthly payments / $4,500 (monthly take-home pay) x 100 = 33.33% this will be y
ratio.
- This example indicates that you spend 33% of your income for debt each month.

If you want to lower your debt follow these steps:

- Determine the rate you would like your debt ratio to be.
- If you want this calculated on your current income use that figure then multiply this amount by the new tar
debt ratio. This will give you the new monthly amount you must pay to reduce your ratio.

**Note: The final figure will tell you how much you will need to pay additionally on your debt each month to
your desired debt ratio.

Monthly Consumer Loan Payments & Debt Safety Ratio

Name:

Type of Loan
Auto and personal Loans

Education loans

Overdraft protection line

Personal line of credit

Credit cards

Home equity line of credit

Monthly take home pay

Debt Safety Ratio:

Total monthly payments/Total monthly take-home pay x 100

Changes needed to reach a new debt safety ratio

1. New (target) debt safety ratio:

2.Use monthly take-home pay x Target debt ratio**

 Date:

Current monthly or
Lender minimum payment
1 $0.00 Note: Only use those loans that
2 $0.00 require regular monthly payments
3 $0.00
1 $0.00
2 $0.00
3 $0.00
1 $0.00
2 $0.00
$0.00
1 $0.00
2 $0.00
3 $0.00
4 $0.00
1 $0.00
 TOTAL
MONTHLY
PAYMENTS $0.00
1 $0.00
2 $0.00

TOTAL
MONTHLY
TAKE-
HOME PAY $0.00

#DIV/0!

0%

$0.00
Unit 5: Worksheet 2: Tracking Your
Consumer Debt
This worksheet will keep you updated on how much
debt you currently have. You will list all your debts
(money you owe) and their current balances. This will
be a good tracking tool for your debt and will need to
be updated frequently.

Date:

Type of Consumer Debt Creditor Creditor Name

Auto Loans 1
2
3
Education Loans 1
2
Personal Installment Loans 1
2
Home Improvement Loan
Other Installment Loans 1
2
Single Payment Loans 1
2
Credit Cards
(retail charge cards, bank cards, etc) 1

2
3
4
5
6
7
Overdraft protection Line
Personal Line of Credit
Home equity creditline
loan on life insurance
Margin loan from broker
Other Loans 1
2
TOTALS
 Current Latest Balance
Monthly Due
Payment*

$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00

$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
Unit 6: Worksheet 1: Life Insurance
Needs
This worksheet will assist you to determine the
amount of life insurance coverage you will need  to
help your family financially upon your death. It uses
the money which will be available, as well as the total
expenses incurred at your time of death, and the debt
you will owe.

A. Costs at death
1. Uninsured medical
expenses (deductible and
copay)

2. Funeral expense (average

$10,000, but less for cremation)

3. Settlement of estate
(estimate 4% of assets)
4. State inheritance taxes (if
any)

5. Counseling costs for

adjustment to loss
Total costs at death
B. Lump Sums
6. Outstanding debts
a. Mortgage
b. Car loan(s)
c. Credit cards and other loans
Total outstanding debt to repay
7. Education costs for children or spouse
8. Spouse retirement fund
9. Household emergency fund
(Monthly household expenses X 3)

Total lump sum needs

C. Cost of Household Maintenance 11. Annual cost of lost support
10.
12. Deceased
services
Reduction inannual
familyafter-tax income
(child care,
expenses due toeldercare,
death
housekeeping)
(estimated 20–25%)

13. Annual Social Security survivor benefits

14. Net income shortfall
Total household maintenance fund needs
Line 14 x Number of years to replace
15. Total fund needed values)
D. Available Resources to Meet
Needs
16. Total savings and investments
17. Group life insurance
18. Social security lump sum benefit
19. Total resources to meet needs
Total life insurance needs
 Yourself Your Spouse

$0.00 $0.00

$0.00 $0.00

$0.00 $0.00

$0.00 $0.00

$0.00 $0.00
$0.00 $0.00

$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
or spouse $0.00 $0.00
$0.00 $0.00

$0.00 $0.00
$0.00 $0.00

$0.00 $0.00

$0.00 $0.00
$0.00 $0.00
vivor benefits $0.00 $0.00
$0.00 $0.00
und needs
Years = 0 $0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
Unit 7: Worksheet 7.1 Stock Trader
Directions: You are given $10,000 to invest in the stock market. You are to pick stock of your
choice. No more than three different stocks and you must invest the whole $10,000. You will enter
your stock name, symbol, the date, the price and the total number of shares purchased. Each week
you will check your stock and record the current market value. In the comment section you will note
any changes and the possible reasons for the change. You will do this during all units between
starting with Unit 2 and ending with Unit 7.

Section A: In this area you will record your initial Purchase of the stock.
Stock name
Date
Symbol
Purchase Price
# of shares
Total Investment

Section B: In this area you will record your weekly market value of your stock.

Unit 3
Unit 4
Unit 5
Unit 6
Unit 7

Section C: This calculates the amount of investment per week based on current week stock
price and number of shares.

Unit 3
Unit 4
Unit 5
Unit 6
Unit 7

Gain or loss

Section D: In this section you will record comments from each unit and answer the 4
questions below.
Comments:
Unit 2
Unit 3

Unit 4

Unit 5

Unit 6

Unit 7

1. What economic issues affected your decisions to purchase the stock?

2. How will the current market value of your stock affect your finances?

3. How can any future investment you make affect your financial plan?

4. How will your financial plan help your with any future investments for your personal
wealth?
 Stock 1 Stock 2 Stock 3

$ - $ - $ - $ -

Current Price Current Price Current Price

Date Stock 1 Stock 2 Stock 3

Total
Current Price Current Price Current Price Investment
Date Stock 1 Stock 2 Stock 3 Each Week
12/30/1899 $ - $ - $ - $ -
12/30/1899 $ - $ - $ - $ -
12/30/1899 $ - $ - $ - $ -
12/30/1899 $ - $ - $ - $ -
12/30/1899 $ - $ - $ - $ -

$ -
Unit 8: Worksheet 1: Retirement Needs

Directions: It is important for you to understand and know what your

current financial needs and your future needs at retirement. To
complete this worksheet you will fill in the various categories that pertain
to your situation for now and later. You will need to include all income
and expenses for both now and at retirement. You will use your monthly
averages for both income and expenses. For your monthly income at
retirement you will use the 5% inflation factor from worksheet 8.2 based
on your number of years until retirement. Enter the factor in cell F3 to
see the calculations of income categories needed at retirement based
on this 5% inflation factor.

MONTHLY INCOME
NOW
Salary (including spouse)
Commissions, Bonuses, Tips
Interest, Dividends
Social Security
Rental Income
Pensions
Annuities
Veterans Benefits
Other Income
TOTAL INCOME (A) $ -
MONTHLY EXPENSES
NOW
Housing
Mortgage
Property Tax
Homeowner’s Insurance
Rent
Utilities
Maintenance Fees
Food
Groceries
Dining Out
Transportation
Vehicle Maintenance
Fuel
Auto Insurance
Public Transportation
Health Care
Medical Services
Medications and supplies
Health Insurance
Personal Insurance
Life Insurance
Disability Insurance
Long-term insurance
Other insurance
Personal expenses
Clothing
Products and services
Miscellaneous Expenses
Loans and Credit cards
Travel or vacation
Hobbies
Gifts
Education
Charitable Contributions
Other
TOTAL MONTHLY EXPENSES (B) $ -
Retirement Needs:
NOW: A - B =surplus or (deficit) $ -
Retirement: A - B =Surplus or (deficit)
RETIREMENT
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -

RETIREMENT

$ -
$ -
$ -
$ -
$ -
$ -

$ -
$ -

$ -
$ -
$ -
$ -

$ -
$ -
$ -
$ -
$ -
$ -
$ -

$ -
$ -

$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -

$ -
 Unit 8: Worksheet 8.2 Inflation Table

Directions: To determine future income

(in dollars) you go to the number of years
before retirement and locate the factor.
Mulitiply the factor times the income
amount in your 8.1 Retirement Needs
Calculator worksheet.

Years until Retirement 5% Inflation Factor

10 1.63
11 1.71
12 1.8
13 1.89
14 1.98
15 2.08
16 2.18
17 2.29
18 2.41
19 2.53
20 2.65
21 2.79
22 2.93
23 3.07
24 3.23
25 3.39
26 3.56
27 3.73
28 3.92
29 4.12
30 4.32