Jable 3-7 Cash-Flow Calendar for Harry and Belinda Johnson Month Income 1 Estimated 2 Estimated Expenses 3 Surplus/ Deficit (1-2) Cumulative Surplus/Deficit January $ 10,510 $ 10,277 $233 $ 233 February 10,510 $ 10,277 233 $ 466 March 10,510 10,267 243 $ 709 April 10,510 10,272 238 $ 947 May 10,510 10,277 233 $1,180 June 10,510 10,507 3 $1,183 July 10,510 10,457 53 $1,236 August 13,510 13,477 33 $1,269 September 10,510 10,457 53 $1,322 October 10,510 10,437 73 $1,395 November 10,510 10,895 -385 $1,010 December 10,510 11,095 -585 $ 425 Total $129,120 $128,695 $425 Figure 3-5 Goals Worksheet for Harry and Belinda Johnson Date worksheet prepared January 1, 2018 1 2 3 5 LONG-TERM GOALS AMOUNT NEEDED MONTH/YEAR NEEDED* MONTHS TO SAVE DATE TO START SAVING Home down payment $30,000 Aug. 2023 60 Aug. 18 Date worksheet prepared January 1, 2018 6 MONTHLY AMOUNT TO SAVE (2/4) $500 1 2 3 5 INTERMEDIATE-TERM GOALS AMOUNT MONTH/YEAR NEEDED NEEDED* MONTHS TO SAVE DATE TO START SAVING 6 MONTHLY AMOUNT TO SAVE (2/4) European vacation New vehicle down payment $6,000 5,000 Jul. 2020 Oct. 2021 30 Jan. '18 $200 45 Jan. '18 III Date worksheet prepared January 1, 2018 2 3 5 SHORT-TERM GOALS AMOUNT MONTH/YEAR NEEDED NEEDED* MONTHS TO SAVE DATE TO START SAVING MONTHLY AMOUNT TO SAVE (2/4) House fund $6,000 Dec. 2018 6 Jun. '18 $500 European vacation fund Summer vacation fund Anniversary dinner party 2,400 Dec. 2018 12 Jan. '18 200 1,200 Jul. 2018 6 Jan. '18 200 500 Dec. 2018 12 Jan. '18 42 Emergency fund 2,400 Dec. 2018 12 Jan. '18 200 *Goals requiring five years or more to achieve require consideration of investment return and after-tax yield, which will be discussed in Chapter 4. Table 3-6 2018 Unfinished Annual Budget Estimates for Harry and Belinda Johnson Yearly Monthly Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Total Averages INCOME Harry's salary Belinda's salary Interest 4,080 4,080 4,080 4,080 4,080 4,080 4,080 4,080 4,080 4,080 4,080 4,080 6,400 6,400 6,400 6,400 6,400 6,400 6,400 6,400 6,400 6,400 6,400 6,400 48,960 4,080.00 76,800 6,400.00 30 30 Income from trust 0 0 30 0 30 30 30 30 30 30 30 30 30 360 0 0 0 0 3,000 0 0 0 0 3,000 30.00 250.00 TOTAL INCOME 10,510 10,510 10,510 10,510 10,510 10,510 10,510 13,510 10,510 10,510 10,510 10,510 129,120 10,760.00 EXPENSES Fixed Expenses Rent 1,600 1,600 1,600 1,600 1,600 1,600 1,700 1,700 1,700 1,700 1,700 1,700 19,800 1,650.00 Health insurance 300 300 300 300 300 300 350 350 350 350 350 350 3,900 325.00 Life insurance 20 20 20 20 20 20 20 20 20 20 20 20 240 Home purchase fund 0 0 0 0 0 0 0 500 500 500 500 500 2,500 20.00 208.33 Renter's insurance 0 0 0 0 0 0 0 220 0 0 0 0 220 18.33 Automobile insurance 0 0 0 0 0 600 0 0 0 0 0 600 1,200 100.00 Auto loan payments 490 490 490 490 490 490 490 490 490 490 490 490 5,880 490.00 Student loan payments 300 300 300 300 300 300 300 300 300 300 300 300 3,600 300.00 Savings/emergencies 100 100 100 100 100 100 100 100 100 100 100 100 1,200 100.00 Harry's retirement plan 195 195 195 195 195 195 195 195 195 195 195 195 2,340 195.00 Belinda's retirement plan 400 400 400 400 400 400 400 400 400 400 400 400 4,800 400.00 Cable TV and Internet Federal income taxes State income taxes 160 160 160 160 160 160 160 160 160 160 160 160 1,920 160.00 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 20,400 1,700.00 500 500 500 500 500 500 500 500 500 500 500 500 6,000 500.00 Social security taxes 800 800 800 800 800 800 800 800 800 800 800 800 9,600 800.00 Automobile registration 0 0 0 0 0 0 0 0 0 0 300 0 300 25.00 Total fixed expenses 6,565 6,565 6,565 6,565 6,565 7,165 6,715 7,435 7,215 7,215 7,515 7,815 83,900 6,991.67 Variable Expenses Savings money market 0 0 0 0 0 0 400 3,000 0 0 0 0 3,400 283.33 Revolving savings fund 250 250 210 250 190 0 240 0 200 190 0 0 1,780 148.33 Food (home) 550 550 550 550 550 550 550 550 550 550 550 550 6,600 550.00 Food (out) 300 300 300 300 300 300 300 300 300 300 300 300 3,600 300.00 Utilities 220 220 220 220 220 220 220 220 220 220 220 220 2,640 220.00 Cell phones 110 110 110 110 110 110 110 110 110 110 110 110 1,320 110.00 Auto gas repairs 220 220 220 220 220 220 220 220 220 220 220 220 2,640 220.00 Doctor/dentist/ 100 100 100 100 100 100 100 100 100 100 100 100 1,200 100.00 out-of-pocket Medicines 60 60 60 60 60 60 60 60 60 60 60 60 720 60.00 Clothing and upkeep 170 170 170 170 170 170 170 170 170 170 170 170 2,040 170.00 Church and charity 100 100 100 100 100 60 100 100 100 100 100 100 1,160 96.67 Gifts 80 80 110 75 140 0 120 60 60 50 400 300 1,475 122.92 Public transportation 160 160 160 160 160 160 160 160 160 160 160 160 1,920 160.00 Personal allowances 500 500 500 500 500 500 500 500 500 500 500 500 6,000 500.00 Entertainment 150 150 150 150 150 150 150 150 150 150 150 150 1,800 150.00 European vacation 400 400 400 400 400 400 200 200 200 200 200 200 3,600 300.00 Summer vacation 200 200 200 200 200 200 0 0 0 0 0 0 1,200 100.00 Anniversary dinner party 42 42 42 42 42 42 42 42 42 42 40 40 500 41.67 Miscellaneous 100 100 100 100 100 100 100 100 100 100 Total variable 3,712 3,712 3,702 3,707 3,712 3,342 3,742 6,042 3,242 3,222 100 100 1,200 3,380 3,280 44,795 100.00 3,732.92 expenses TOTAL EXPENSES 10,277 10,277 10,267 10,272 10,277 Difference (available 233 233 243 238 233 10,507 3 10,457 53 13,477 33 53 73 10,457 10,437 10,895 11,095 -385 -585 128,695 10,724.58 425 for spending, saving, investing, and donating Revolving savings 0 0 0 0 0 0 0 0 0 0 385 585 0 withdrawals Balance Sheet for Harry and Belinda Johnson January 1, 2018 ASSETS Monetary Assets Cash on hand 1,070 3.7% Savings (First Credit Union) 1,200 4.1% Savings (Far West Savings Bank) 4,000 13.7% Savings (Homestead credit union) 2,260 7.7% Checking account (First Credit Union) 2,100 7.2% Total monetary assets $10,630 36.3% Tangible Assets Automobile (3-year old Toyota) 11,000 37.5% Personal property 2,200 7.5% Furniture 1,800 6.1% Total tangible assets $15,000 51.2% Investment Assets Harry's retirement account Belinda's retirement account Total investment assets Total Assets 1,170 4.0% 2,500 8.5% $ 3,670 12.5% $29,300 100.0%