Workshop on Personal Finance
Week 3

Current Stewardship
Summarize current spending
Add total spending: last 12 months
Roll up your sleeves!
All “money trails”
Non-tax payroll deductions
All money machine withdrawals
Categorize every expense
Large miscellaneous category is OK
Do the best you can, but finish!
Enter by category into workbook (first column-”current monthly”)

Biblical Budgeting

Stewardship

Debt and Borrowing

Where Do We Stand?

Dealing with Collectors

Budget Killers

Basic Budget

Debt Repayment

How’s your cash flow???
Add up total net income (all sources) for the same 12 months
Divide by 12 for monthly figure
Total spending vs. total income
Break even - Surplus - Deficit
Net worth statement makes more sense
Federal Tax withholding levels OK?

Where do we stand?
Look at where all our money is going
Any surprises?
Compare with chart “Percentage Guide for Family Income” (workbook, page 21)
May decide to update list of goals
What areas are holding us back?
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