1. What’s Next for Your Personal Financial Plan?

Survey three or four individuals to determine their uses of credit.

Talk to several people to determine how they first established credit.

Consumer Credit Usage Patterns Purpose: To create a record of current consumer debt balances.
Financial Planning Activities: Record account names, numbers, and payments for current consumer debts. This sheet is also available in an Excel spreadsheet format in Connect Finance.

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Automobile, Education, Personal, and Installment Loans Financial institution Account number Current balance Monthly payment Charge Accounts and Credit Cards Other Loans (overdraft protection, home equity, life insurance loan) Totals Debt payments-to-income ratio= Total monthly payments Net (after-tax) income