Statement of Financial Position Balance Sheet

ASSETS
Current Assets
Checking (Joint)
Bank CD (Joint)

LIABILITES & NET WORTH

$
$

2,000.00
3,000.00

Total Current Assets

Investment Assests
Savings Account
Brokerage Account
Roth IRA (H)
401(k) Account (Her)
401(k) Account (His)
Total Investment Assests

$
$
$
$
$

Personal Use Assets

Jewelry
Boat
2007 Jeep Patriot
Furniture
Harley Davidson
2010 Infiniti E35
Primary Home (VALUE)
Total Personal Use Assets

$
$
$
$
$
$
$

Total Assets

$
$

5,237.00
6,200.00

Long-Term Liabilities
Harley Davidson Loan
Jeep Auto Loan
Student Loans H
Infiniti Loan
Primary Mortgage
Total Long-Term Liabilities

$
$
$
$
$

18,000.00
8,500.00
37,380.00
42,000.00
178,000.00

5,000.00

2,300.00
3,700.00
4,295.00
65,581.00
108,657.00
$

Current Liabilites
BB National CC
Sears CC
Total Current Liabilities

184,533.00
Total Liabilities

3,500.00
8,000.00
9,000.00
12,300.00
21,000.00
38,500.00
271,980.00

Total Net Worth

364,280.00

553,813.00 Total Liabilities & Net Worth

11,437.00

283,880.00

295,317.00

258,496.00

553,813.00

Statement of Income and Expenses

Mr. and Mrs. Wilkinson
Statement of Income and Expenses for Past Year

Cash Inflows

Totals

Sarah's Salary
Todd's Salary
Dividend/Interest Income
Total Cash Inflows

$
$
$

72,000.00
96,000.00
1,440.00
$

169,440.00

18,600.00

40,260.00

61,908.00

4,416.00

Total Savings, Expenses and Taxes

$
$

9,600.00
134,784.00

Net Discretionary Cash Flow

34,656.00

Cash Out Flows

Savings
Todd's 401(k) contributions
Sarah's 401(k) contributions
Todd's Roth Contributions
Dividend/ Interest Reinvestment
Cash Savings Contribution

$
$
$
$
$

3,600.00
3,600.00
2,760.00
1,440.00
7,200.00

Total Savings
Debt Payments
Mortgage Payment (PITI)
Student Loan Payment
Harley Payment
Infiniti Payment
Jeep Payment
BB National Credit Card Payment
Sears Credit Card Payment

$
$
$
$
$
$
$

21,324.00
3,360.00
2,100.00
5,376.00
3,360.00
2,340.00
2,400.00

Total Debt Payments

Living Expenses
Alarm System
Cable
Cellphone
Charity
Child Care
Club Dues
Dining Out
Dry Cleaning
Entertainment
Gas
Groceries
Hobbies
Home Repairs
Internet
Landscaping
Maid
Parking and Tolls
Water

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

468.00
1,260.00
1,560.00
4,200.00
14,400.00
1,800.00
4,800.00
1,920.00
4,800.00
3,600.00
6,000.00
3,600.00
2,400.00
1,200.00
3,600.00
4,800.00
540.00
960.00

Total Living Expenses

Insurance Payments
Auto Insurance
Life Insurance

$
$

3,216.00
1,200.00

Total Insurance Payments

Taxes
Total Taxes (FICA AND INCOME TAX)

$
Total Taxes

9,600.00

Total Cash inflows

Total Cash Outflow
Free Cash flow
Total Saving
Total Debt Payment
Total Living expenses
Total Insurance Payment
Total Taxes

$ 169,440.00 100.00%
$ 129,600.00 76.49%
$ 39,840.00 23.51%
$ 18,600.00 10.98%
$ 40,260.00 23.76%
$ 61,908.00 36.54%
$ 4,416.00
2.61%
$ 4,416.00
2.61%

Total Insurance
Payment
3%

Top Spending Area

Total Taxes
3%

Total Living
expenses
36%

Total Debt
Payment

p Spending Areas
Total Taxes
3%
Free Cash flow
23%

Total Saving
11%

Total Debt
Payment
24%

Emergency Fund Ratio

Cash & Cash Equivalents/Monthly non-discretionary Cash Flows
Cash & Cash Equivalents
$ 5,000.00
Debt payments
Cellphone
Childcare
Gas
Groceries
Home Repairs
Internet
Water
Insurance Premiums
Total Monthly Non-Discretionary Cash Flow

$
$
$
$
$
$
$
$
$
$

Emergency Fund Ratio:

3,355.00
130.00
1,200.00
300.00
500.00
200.00
100.00
80.00
368.00
6,233.00
0.8022 Months

Current Ratio
Cash & Cash Equivalents/Current Liabilities
Cash & Cash Equivalents
Current Liabilities
Current Ratio

$ 5,000.00
$ 11,437.00
0.4372 (2013)

Housing Ratios
Income
Sarah's Monthly Salary
Tod's Monthly Salary
Dividend/Inerest Income
Total Income

$ 6,000.00
$ 8,000.00
$
120.00
$ 14,120.00

PITI

1,777.00

Monthly Recurring Debt

3,355.00

H1 Ratio
H2 Ratio

29.62%
85.53%

(2013)

Loan Value
Refinancing cost

Option 1
PV
Interest
Years
N
Interest(Monthly Rate)
FV
PMT

Option 1
Month
1
2
3
4
5
6
7
8
9
10
180
Total

$
$

178,000.00
5,500.00

183,500.00
4.20%
15
180
0.35%
0
($1,375.79)

Beg bal.
$
$
$
$
$
$
$
$
$
$
$

Pmt
183,500.00
182,766.46
182,030.35
181,291.66
180,550.39
179,806.53
179,060.06
178,310.98
177,559.27
176,804.94
1,370.99

$1,375.79
$1,375.79
$1,375.79
$1,375.79
$1,375.79
$1,375.79
$1,375.79
$1,375.79
$1,375.79
$1,375.79
$1,375.79
$247,642.54

Interest
$
$
$
$
$
$
$
$
$
$
$

642.25
639.68
637.11
634.52
631.93
629.32
626.71
624.09
621.46
618.82
4.80
$64,142.54

Time (years)
Total # of Payments
Payment & Interest
Taxes & Insurance
PITI
Total Interest Paid
Total Paid
Monthly Income
Non Discretionary Expenses
H1
H2

Current
22.05
264.6
$1,277.32
$499.68
$1,777.00
$259,834.35
$459,834.35
$14,120.00
$3,355.00
12.58%
36.35%

Option 1
15
180
$1,375.79
$499.68
$1,875.47
$64,142.54
$247,642.54
$14,120.00
$3,355.00
13.28%
37.04%

Option 2
PV
Interest
Years
N
Interest(Monthly Rate)
FV
PMT

Principal
$733.54
$736.11
$738.69
$741.27
$743.87
$746.47
$749.08
$751.70
$754.33
$756.97
$1,370.99
$183,500.00

End Bal
$
$
$
$
$
$
$
$
$
$
$

Option 2
Month
182,766.46
182,030.35
181,291.66
180,550.39
179,806.53
179,060.06
178,310.98
177,559.27
176,804.94
176,047.96
0.00

1
2
3
4
5
6
7
8
9
10
180
181
360
Total

Option 1
15
180
$1,375.79
$499.68
$1,875.47
$64,142.54
$247,642.54
$14,120.00
$3,355.00
13.28%
37.04%

Option 2
30
360
$940.70
$499.68
$1,440.38
$155,152.87
$338,652.87
$14,120.00
$3,355.00
10.20%
33.96%

Beg bal.
$
$
$
$
$
$
$
$
$
$
$
$
$

183,500.00
4.60%
30
360
0.38%
0
($940.70)

Pmt
183,500.00
183,262.71
183,024.52
182,785.41
182,545.39
182,304.44
182,062.57
181,819.78
181,576.05
181,331.39
122,621.72
122,151.07
937.11

$940.70
$940.70
$940.70
$940.70
$940.70
$940.70
$940.70
$940.70
$940.70
$940.70
$940.70
$940.70
$940.70
$338,652.87

Interest
$
$
$
$
$
$
$
$
$
$
$
$
$

Principal
703.42
702.51
701.59
700.68
699.76
698.83
697.91
696.98
696.04
695.10
470.05
468.25
3.59
$155,152.87

$237.29
$238.20
$239.11
$240.03
$240.95
$241.87
$242.80
$243.73
$244.66
$245.60
$470.65
$472.46
$937.11
$183,500.00

Current
PV
Interest
N
FV
PMT
PITI
TI

End Bal
$
$
$
$
$
$
$
$
$
$
$
$
$

$200,000.00
6.60%
30
0
($1,277.32)
$1,777.00
$499.68

Month
183,262.71
183,024.52
182,785.41
182,545.39
182,304.44
182,062.57
181,819.78
181,576.05
181,331.39
181,085.79
122,151.07
121,678.62
0.00

Beg bal.
1
2
3
4
5
6
7
8
9
10
180
181
360

Total

$200,000.00
$199,822.68
$199,644.39
$199,465.12
$199,284.86
$199,103.61
$198,921.36
$198,738.11
$198,553.85
$198,368.58
$146,183.67
$145,710.36
$1,270.33

PV
Interest
FV
PMT
N

Pmt
$1,277.32
$1,277.32
$1,277.32
$1,277.32
$1,277.32
$1,277.32
$1,277.32
$1,277.32
$1,277.32
$1,277.32
$1,277.32
$1,277.32
$1,277.32
$459,834.35

Interest
$
$
$
$
$
$
$
$
$
$
$
$
$

$200,000.00
6.60%
$178,000.00
($1,277.32)
7.95 Years

Principal
1,100.00
1,099.02
1,098.04
1,097.06
1,096.07
1,095.07
1,094.07
1,093.06
1,092.05
1,091.03
804.01
801.41
6.99
$259,834.35

End Bal
$177.32
$178.29
$179.27
$180.26
$181.25
$182.25
$183.25
$184.26
$185.27
$186.29
$473.31
$475.91
$1,270.33
$200,000.00

$199,822.68
$199,644.39
$199,465.12
$199,284.86
$199,103.61
$198,921.36
$198,738.11
$198,553.85
$198,368.58
$198,182.29
$145,710.36
$145,234.45
$0.00