FIN 1380

SIGNATURE ASSIGNMENT
A1-A4

A1. Cash-Flow
Monthly %
Income
Salary 3232 100%
Expenses
Tax/Benefits Withheld 746 23.08%
Food 307 9.50%
Gas 217 6.71%
Rent 500 15.47%
Entertainment 31 0.96%
Car Insurance 133 4.12%
Credit Card 338 10.46%
Car Payment 255 7.89%
Daycare 127 3.93%
Loan 193 5.97%
Phone 45 1.39%
Vasa 27 10.59%
Other 437 13.52%
Total Expenses -137

2. Statement

I have made many changes in my spending this year and try more to keep a

better track of where my money goes. My main goal is to make sure my bills are paid

and budget with whatever is left over. I have been able to pay off some debts but have

not put any money towards savings or emergency funds. Looking at my spending in this

way has shown me that a large portion of my income goes into other payments. It was
also interesting to see that I went over my overall income this last month, which tells me

I need to do better with staying within a budget and not over spend.

A2. Balance Sheet

Assets Amount %
Savings 50 5.88%
Cash 200 23.53%
Electronics 2650 90.57%
Total Assets 2650 100%
Liabilities
Car 6600 40.24%
Credit Card 4000 24.39%
Student Loan 4100 25.00%
Loan 1700 10.37%
Total Liabilities 16400 100%

Total Net Worth -13750

3. Statement

I have never calculated my net worth, or taken the time to calculate my assets

and liabilities. Based on the balance sheet, I am in a negative net worth. I can see how

it may be disappointing but I have managed to pay a lot of things off this year and I

know it could have been even less. I am sure that there are many other people who are

in similar positions as myself. It is a goal of mine now to get out of a negative net worth

and I would like to keep this table and check again in a year to see if I have made any

advances in my overall totals.

 A3. Monthly Spending Budget
Monthly %

Income
Salary 3232 100%
Expenses
Tax/Benefits Withheld 746 23.08%
Food 200 6.19%
Gas 200 6.19%
Rent 500 15.47%
Entertainment 31 0.96%
Car Insurance 95 2.94%
Credit Card 250 7.74%
Car Payment 255 7.89%
Daycare 127 3.93%
Loan 193 5.97%
Phone 30 0.93%
Vasa 27 10.59%
Other 375 11.60%
Savings 200 6.19%
Total Expenses 3229 99.91%

A3. Statement

I believe it is very important for me to start spending differently if I am going to

continue paying off debts. I was never shown the importance of spending on a budget

and living within your means but as I have made advancements in my financial goals, I

would like to continue to make changes to be able to continue progressing. As I have a

family of my own, and support myself and my child I have felt a greater need to be more

financially smart so that I can always have funds for rainy days and also to show her as

she gets older to work with budgets.

 As someone who is a visual and hands on learner, it is easy for me to better

keep track of my spending now that I see it in front of me, and have done the actions to

create this spending plan. I have an expense tracker that I currently maintain, however it

is only for bills I pay monthly. Through that I have been able to plan for bills and where I

can pay extra to help pay off debts in other areas. I had not taken the time to calculate

gas, food and other expenses which is where a large portion of my income goes

towards.