Building a Savings Plan

Future Cash Flow

Saving money takes planning, discipline, and knowledge. Learn how here.

Now construct a future cash flow or a spending plan. Print out the following worksheet and fill it in. Think bare bones. What is the absolute minimum it would take to feed and house your family? 

Monthly Cash Flow
Savings/Investing
Federal & State Taxes
Mortgage or rent
Home repair/maintenance
Property taxes
Life/disability insurance
Home/renter’s insurance
Auto insurance
Credit card/loan payment
Utilities & telephone
Food (include eating out)
Clothing
Grooming
Gasoline
Auto repair/maintenance
Other transportation
Medical care
Education
Child Care
Alimony/child support
Entertainment
Vacations
Gifts/charitable contributions.
Laundry/dry cleaning
Others:
(a)Total Expenses
(b) Income
(c) Cash Balance (b) – (a)

It takes a lot of time to put a plan together, but if you do it well and thoroughly, you’ll have something to aim for.  It may not work out exactly as you’ve planned but a plan will give you a way to measure your progress.



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