Tithes
Emergency fund
Debt Reduction
College Fund
2. Offerings
3. Taxes (0) Fixed
Work on Tax Breaks
4. Gas & Electric/Water/Trash
5. Housing
Homeowners Dues
House Repairs
6. Phone Cell, Home, onesuite.com, Internet
7. Auto Tags
8. Gas and Oil
9. Auto Insurance
Car Replacement Fund
10. Auto Maint.
10.5 Auto Loan
11. Life Insurance
Disability Insurance
Medical Bills
12. Vacation
13. Fuller
14. Christmas
15. Subscriptions
16. Helping Others
17. Retirement
Cash System
19. Eating Out
Recreation Entertainment
21. Food
22. Toiletry & Cosmetics
23. Clothing
24. Gifts
Cosmetics and Hair Care
25. Laundry and Cleaning Supplies
26. Lawn & Dues
27. Job or School Related Supplies
Blow Money
Blow Money
28. Stamps
Total Outgo:
Income
Income
IN THE MIDDLE AND THE END OF EACH MONTH HAVE FINANCIAL MEETING TO SEE HOW WE ARE DOING ACCORDING TO THE BUDGET.
January
Review totals from last year.
Set expense budget for year
Set Savings and debt reduction goals for year
Set Vacation Budget for Year
February
Organize Tax Information
Review Investments
Make out Christmas/B-day list and keep it in palm
March
Do Taxes
April
Track all expenses for month
Mail taxes
May
Review your savings goals for year
Review investments and allocations
June
Review your finances and look for ways to do it better
July
Review expenses year to date, and modify budget or goals as necessary.
Review yearly savings goals, is it on track?
August
Track Expenses
Review Investments
September
Review will and trusts
October
Review holiday budget
Check insurance to see if have adequate coverage
November
Review investments and tax liabilities; try to see if there is anything that can
Be done to minimize taxes
Fill out any tax related deduction sheets
December
Track all expenses
Ideas from Dave Ramsey
Step 1: 1000 in an
Emergency Fund (thus enabling you not to use credit cards)
Step 2: Pay off all debt
utilizing the Debt Snowball (except the house)
Step 3: 3-6 Months of
expenses in Savings
10,000 for emergencies
Step 4: Fully fund your pre
tax retirement savings.
Step 5: College Funding
Step 6. Pay Off the Home Early
Step 7: Build Wealth: Give
and Give, Mutual Funds
Forms
Major Components of a healthy
financial plan 14 Basic things
Written Cash flow plan
You need a official Will
Debt Reduction Plan
Tax Reduction Plan
Emergency Funding 3-6
months of income
Retirement Plan
Charitable Giving
Teach your kids: 33%
still receive help from their family
Life Insurance: 8-10
times your salary
Health Insurance
Disability Insurance
Homeowners Insurance