Balance Sheet - Calculating Your Net Worth Assets Value $500 Cash Checking Savings/CDs Money Market Funds Other Monetary Assets + Monetary A A. A. = $500 Mutual Funds Stocks + CD + $5,000 Life Insurance (cash-va + Cash Value of Annuitie + Investment Real Estate Other investments Investment B. B. = $5,000 401(k) and 403(b) Company Pension Keogh + IRA + Other Retirement Plan: C. Retirement C. = $0 Primary Residence 2nd Home + Time-Shares/Condomin + Other Housing Housing (m D. $0 Automobile 1 Automobile 2 + Other Automobiles + Automobile E. = $0 Collectibles Boats Furniture + Other Personal Propert + Personal Pr F. = $0 Money Owed You Market Value of Your B + Other Other Asse G. = $0 Total Asset H. = $5,500 D. E. F. G. H. +++ Balance Sheet - Calculating Your Net Worth (continued) Liabilities or Debts Value I. Current Bill I. = Visa Master Card Other Credit Cards + J. Credit Card = $0 + First Mortgage 2nd Home Mortgage Home Equity Loan Other Housing Debt Housing K. K. Automobile 1 Automobile 2 Other Automobile Loar Automobile L. L. College Loans $2,000 Loans on Life Insuranc Bank Loans Installment Loans Other M. Other Debt $2,000 N. Total Debt $2,000 Net Worth H. Total Asset $5,500 N. Less: Total $2,000 O. Equals: Net $3,500 J. M. N. H. N. 0. + + + + = Worksheet 5 - Simplified Income Statement Worksheet Your Take-Home Pay Total Income 50000 Total Income Taxes 10000 Total Savings Expense 5000 Net Income 35000 Your Living Expenses 10000 Total Housing Expenditures + Total Food Expenditures + Total Clothing and Personal Care Expenditures + Total Transportation Expend+ Total Recreation Expenditur + 15000 Total Medical Expenditures + Total Insurance Expenditure + 20000 Total Other Expenditures Total Living Expenditures (add lines D through K) 45000 -10000 Income ND Expenses Car Payments Credit Payments Boat Payment Mortgage / Rent Food Total Ratio Formula Monetary Assets/ Current Current Liabilities Monetary Assests/ Non Discretionary Emergency Expense 28%- M-Piti/M HR1 Income HR2 Payments)/ Total Savings Contributions/Total Saving Ratior Income MORTAGE ----> Total Monthly Payment for your house PITI- Principle, Interest, Taxes, and Insurance Calculation Comments Balance Sheet - Calculating Your Net Worth Assets Value $500 Cash Checking Savings/CDs Money Market Funds Other Monetary Assets + Monetary A A. A. = $500 Mutual Funds Stocks + CD + $5,000 Life Insurance (cash-va + Cash Value of Annuitie + Investment Real Estate Other investments Investment B. B. = $5,000 401(k) and 403(b) Company Pension Keogh + IRA + Other Retirement Plan: C. Retirement C. = $0 Primary Residence 2nd Home + Time-Shares/Condomin + Other Housing Housing (m D. $0 Automobile 1 Automobile 2 + Other Automobiles + Automobile E. = $0 Collectibles Boats Furniture + Other Personal Propert + Personal Pr F. = $0 Money Owed You Market Value of Your B + Other Other Asse G. = $0 Total Asset H. = $5,500 D. E. F. G. H. +++ Balance Sheet - Calculating Your Net Worth (continued) Liabilities or Debts Value I. Current Bill I. = Visa Master Card Other Credit Cards + J. Credit Card = $0 + First Mortgage 2nd Home Mortgage Home Equity Loan Other Housing Debt Housing K. K. Automobile 1 Automobile 2 Other Automobile Loar Automobile L. L. College Loans $2,000 Loans on Life Insuranc Bank Loans Installment Loans Other M. Other Debt $2,000 N. Total Debt $2,000 Net Worth H. Total Asset $5,500 N. Less: Total $2,000 O. Equals: Net $3,500 J. M. N. H. N. 0. + + + + = Worksheet 5 - Simplified Income Statement Worksheet Your Take-Home Pay Total Income 50000 Total Income Taxes 10000 Total Savings Expense 5000 Net Income 35000 Your Living Expenses 10000 Total Housing Expenditures + Total Food Expenditures + Total Clothing and Personal Care Expenditures + Total Transportation Expend+ Total Recreation Expenditur + 15000 Total Medical Expenditures + Total Insurance Expenditure + 20000 Total Other Expenditures Total Living Expenditures (add lines D through K) 45000 -10000 Income ND Expenses Car Payments Credit Payments Boat Payment Mortgage / Rent Food Total Ratio Formula Monetary Assets/ Current Current Liabilities Monetary Assests/ Non Discretionary Emergency Expense 28%- M-Piti/M HR1 Income HR2 Payments)/ Total Savings Contributions/Total Saving Ratior Income MORTAGE ----> Total Monthly Payment for your house PITI- Principle, Interest, Taxes, and Insurance Calculation Comments