Five Step Cash Flow Program for Parents - Step Four

Liability Worksheets Once you have calculated your assets you will know how much you own. Now you need to calculate how much you owe.  Subtracting how much you owe from what you own will determine your net worth. The net worth can then be used to determine approximately how much you can afford to contribute to your children’s college education from your assets. The following Parent Liabilities Worksheet is designed to give you a picture of the your debt position. Believe it or not, there is good debt and bad debt and most...

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Five Step Cash Flow Program for Parents - Step Three

STEP THREE Evaluating The Family’s Assets and Liabilities You now need to look at your assets and liabilities.  The following page will let you list your assets.  Pay close attention to where your assets are invested.  The asset and liability sheets that will follow in Step Four are designed to calculate your NET WORTH.  These sheets will demonstrate how much you own and how much your owe.   There are several reasons why you want to know your family’s net worth.  You are looking for assets...

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Five Step Cash Flow Program for Parents - Step Two

STEP TWO  HOUSEHOLD EXPENDITURE Once you have accumulated all your financial information you need to start putting everything together.  Most families do not keep track of how they spend their money on a monthly basis, and therefore, their spending controls them.  This is no way of running a household. Most parents do not realize they have two jobs, (1) the one they work nine to five every day and (2) the one that they go home to every night.  If you were to ask yourself, “Of these two jobs which one would be the...

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Five Step Cash Flow Program for Parents - Step One

Why Use Cash Flow Planning   If you are the average American citizen, last year somewhere close to half of your income went to taxes.  Another way of looking at this is that every penny that you earned from January 1 until somewhere around the middle of April went to pay taxes in one form or another. This didn't just happen last year either. Almost five to six months out of each year you work for the benefit of various taxing authority...

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The End of the Ivy League As We Know It?

Informative article about College Planning by Simone Baribeau. Click here to go to the artic...

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