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Cash Flow Planning Form For Household Expenses
A cash flow plan shows the sources, amounts and timing of income and expenses. It shows when major expenses will come, when you will need credit and when you can plan for other major expenses. A cash flow plan is usually for one year, but it can be for any time period you choose.
Gather all of the sources of information you have about family living expenses -- checkbooks, receipts, due dates and amounts of insurance premiums and debts, and any records you have kept in the past year. With this information to help you look ahead, you are ready to begin to plan household expenses.
Complete the form on page 2, column by column, starting with the first period of the time being considered. Do the form in pencil; round all figures to dollars; refer to the line explanations section for more in formation.
Study it -- use it to plan and control your family's living expenses. This information will also be helpful if you use cash flow planning in the family business. Used together, cash flow planning in both the family business and household expenses can help coordinate expenses, income and credit use.
Line 1. Beginning Balance--includes cash on hand and in the household expense checking account.
Lines 2-3. Regular Income--Take-home allowed for household expenses.
Line 4. Transfer from Business Account--amount allowed for household expenses from business account (if any).
Line 5. Other Income--Other income specifically for household expenses such as gifts, tax refunds.
Line 6. Total Cash Available--Add lines 1-5
Lines 7-13. Credit Debt Payments -- Amount of payment for all installment, credit card and other debts (including interest). List each separately. Also list other fixed expenses such as housing rent or payment, other credit debt payments, childcare expenses, etc.
Line 14. Total Fixed Expenses -- Add lines 7-13.
Line 15. Emergency Fund Savings -- Fund maintained for unexpected emergencies (insurance deductibles, unexpected travel or expense, repair or replacement of house hold items, legal expenses, etc.)
Lines 16-17. Other Savings -- Savings for purposes other than emergencies, such as education; other investments besides business, retirement, etc.
Line 18. Total Savings -- Add lines 15-17.
Line 19. Food--Include food eaten at home and away (including school lunches), and home food production.
Line 20. Utilities -- Household utilities expense (gas, electricity, telephone, water).
Line 21. Transportation -- Household car and other transportation expense (gas, oil, maintenance, repair, license plates, insurance, plane, taxi, car rental, etc.)
Line 22. Household Operation -- Supplies, upkeep, house repairs, safe deposit box rent, hired help for the house, postage and stationery, household property insurance, laundry supplies, dry cleaning.
Line 23. Health -- Medical and hospital insurance premiums, doctor, dentists, medicine, eye glasses, therapy treatments, x-rays, lab tests.
Line 24. Personal Care and Allowances -- Barbershop, grooming and beauty aids, "coffee breaks," beauty shop.
Line 25. Gifts and Contributions -- Church, charities, holidays, wrapping paper, cards, special contributions.
Line 26. Education -- Books, tuition, newspapers, magazines, music and dance lessons, seminar and workshop fees.
Line 27. Recreation -- Club dues, sports, movies, vacations, babysitting during recreation, records, pets, tobacco, alcoholic beverages, hobby supplies, cable television.
Line 28-29. Other Flexible Expenses -- Those flexible expenses that won't fit in lines 19-27, such as babysitting while working, unreimbursed business expenses, etc.
Line 30. Total Flexible Expenses -- Add lines 19-29.
Line 31. Clothing Upkeep -- Clothing purchases, home sewing supplies.
Line 32. Furnishings and Equipment -- Appliances, furniture, small and large household equipment and furnishings items.
Line 33. Life and Disability Insurance -- Premium payments for life and disability insurance.
Lines 34-35.Irregular Expenses that won't fit in lines 31-33, such as school expenses, heating fuel, vacations, union/professional dues, etc.
Line 36. Total Irregular Expenses -- Add lines 31-35.
Line 37. Total Cash Required for Household Expenses -- Add lines 14, 18, 30 and 36.
Line 38. Ending Cash Balance -- Line 6 minus Line 37.
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