Personal Financial Workbook - Consumer Credit

1 Personal Financial WorkbookTable of Contents1. Financial Community Guideline Worksheet2. Daily Expense Tracking Worksheet3. Household Budgeting Worksheet4. Bill Paying Worksheet5. Personal Asset Worksheet6. Household Inventory Worksheet8. Net Worth Worksheet9. Financial Records Organization Worksheet11. Financial Goals Worksheet13. Bank Account Comparison Worksheet14. Investment Options Worksheet15. Creditworthiness Worksheet16. Debt-to-Income Ratio Worksheet17. Credit Card Options Worksheet18. Annual Credit Report Request Form19. ResourcesAmerican Consumer Credit Counseling (ACCC) is a nonprofit 501(c)(3) organization.

2 Founded in 1991, ACCC offers confidential Credit counseling, housing counseling, bankruptcy counseling, a debt management program, and educational resources Personal Financial Workbook is a tool that you can use to organize your finances and gain an understanding of how you are spending your money. By using the worksheets you ll be able to paint a clear picture of your Financial situation and make better decisions for the future. We recommend that you photocopy worksheets before using them so that you may revise the information, and reuse the worksheets as Consumer Credit Counseling130 Rumford Ave, Suite 202, Auburndale, MA Community GuidelinesCalculate and compare your spending to the Financial community your spending to the Financial community guidelinesHousing 35%Mortgage or rent, taxes, repairs, improvements, insurance, and utilitiesTransporation 20%Monthly payments, gas, oil, repairs, insurance, parking, and public transportationDebt 5% Credit cards, Personal loans, student loans.

3 And other debt paymentsAll other expenses 20%Food, insurance, prescriptions, doctor & dentist bills, clothing, and personalInvestments & Savings 20%Stocks, bonds, cash reserves, savings accounts, retirement funds, etc.*To calculate the recommended expenditure for each category, multiply the recommended percentages by your gross income. For example, if your gross income is $3, and the recommended allowance for housing is 35%, multiply $3, by .35. The recommended housing expenditure should not exceed $1, per month.*To calculate your true monthly budget expenditure for each category, divide your monthly expense by your gross income, and multiply that by 100.

4 For example, if your housing expense is $1, , divide by $3, , and multiply by 100. You are spending 40% of the recommended expenditure on (gross income x recommended %)(expense/income)x 100 ActualExpenseBudgetPercentageRecommended Housing35%$$%$%$%$%$%$$$$20%5%20%20%Tran sportationDebt PaymentsAll OtherSavingsExplanation2 Daily Expense TrackerTrack your daily spending on this worksheet to see exactly where your money is :Cash/Check/DebitAmount Credit3 Household Budgeting WorksheetComplete this worksheet by entering all of your monthly expenses for the following line items. Total each category and add all categories together to calculate your monthly insurance(if not included in mortgage)

5 Trash serviceTelephone and cell phoneHome maintenenceCleaning suppliesTOTALS porting events, concerts, rentalsRestaurants/take-outInternet serviceCable/satellite TVGambling/lottery ticketsFitness/social clubsVacation/travelHobbiesTOTAL$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

6 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $$ $ $ $ $ $ $ GasCar payment(s)

7 Car insuranceCar inspectionCar repairs and maintenenceCar registrationPublic transportation or taxiParking and tollsTOTALB arber/salon servicesToiletriesChildren s allowancesTobacco productsBeer, wine, or liquorClothingLaundry/dry cleaningTOTALS tudent loanCredit cardMedical billsPersonal loanTOTALH ealthLifeDisabilityTOTALG roceriesSchool lunchesWork-related (lunch/snacks)TOTALT uitionBooks and suppliesNewspapers and magazinesTOTALD octor visitsDentalPrescriptionsTOTALE mergency fundDown payment fundTOTALB irthdaysMajor holidaysTOTALD aycareBabysitter/nannyChild support/alimonyTOTALR eligious or charityTOTALH ousing/UtilitiesEntertainmentTransportat ionPersonalDebtsInsurance (if not payroll deducted)FoodEducationMedicalSavingsGift s Total Monthly Expenses- Net Income= Cash Flow(disposable/deficit)ChildcareDonatio ns4 Bill Paying WorksheetThis worksheet is to help you get organized when paying bills.

8 Take a moment and fill in all your bills that are due within different dates. This worksheet will help you remember what and when bills are due. Bills To PayBills To PayBills To PayBills To PayBills To PayBills To PayBills To PayBills To PayDue DateDue DateDue DateDue DateDue DateDue DateDue DateDue DatePaymentPaymentPaymentPaymentPaymentP aymentPaymentPaymentDue Dates - 1st to 7thDue Dates - 8th to 14thDue Dates - 15th to 21stDue Dates - 22nd to 31st1. 2. 3. 4. 5. $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

9 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 6. 7. 8. 9. 10. 6. 7. 8. 9. 10. 6. 7. 8. 9. 10.

10 6. 7. 8. 9. 10. 1. 2. 3. 4. 5. 1. 2. 3. 4. 5. 1. 2. 3. 4. 5. 5 Personal Asset WorksheetUse this worksheet to identify your current assets and value. Identify your current beneficiary (if applicable) and name the person for future of AssetCurrent ValueCurrent BeneficiaryFuture Designation(if applicable)Home/ResidenceLandOther.