Fp/101 Week 2

  How does a personal cash flow statement help you organize your finances?
        o    What was the most interesting thing you learned about completing this worksheet?
        o    Did this worksheet provide you with any ideas about how you may want to change your budget (how much you are spending, saving, or reducing your debt)?

A personal cash flow statement helps me organize my finances because it maps out almost every possible expense you will go through in a month.   This breaks down where you need to allocate your funds and it helps keep you organized with these expenses.   Furthermore it helps keep you from running into any unnecessary debt and for those with debt problems it will help them manage there finances better to become debt free.   I learned several interesting and useful information from completing this worksheet.   It pin pointed so many expenses that are almost useless to waste the money on.   In addition to that it showed me some physical evidence of just how quick my monthly income really goes.   For the most part though I had a good understanding on where my finances were used, but it’s just amazing once you see it broken down this in depth.   The worksheet gave me a few ideas on how to adjust on finances.   Especially in my spending area I would have to say I need to reduce this area and increase the amount I put in all my different types of saving accounts I have.   Since I have a savings account and a Roth IRA I don’t feel I’m depositing enough into these accounts.   On the other hand it gave me a greater look at my expenses in bills and how I need to start possibly looking for better prices from other companies to help save more.   In conclusion I feel that this worksheet is an excellent tool with gaining a grasp on our finances.   Furthermore I would like to take it even deeper and do a weekly breakdown instead of a monthly. [continues]

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