Page 30 - Workbook1E

Personal financial success is achieved when your family finances are given the same importance and care businesses give their finances. Sadly, most families live paycheck-to-paycheck, with no spending plan, no monthly accountability, no savings plan, and no idea of how or when they’ll ever be out of debt. But it doesn’t have to stay that way.
Being prepared for life’s surprises is also one of the most important reasons to develop and use a Spending Plan. It helps you survive unexpected expenses. When you’re prepared, you have the satisfaction and comfort of being in control of your finances.
Extreme Makeover —Home Edition
What if you decided to build or remodel your home? Before you can design your plan, you need to ask some questions. What kind of home best suits your lifestyle? How many rooms do you want? What special features
are important to you? How much can you afford to spend? As you gather more information about building your home, your ideas become clearer. Your plan can be great! Eventually, you’ll have a finished design that’ll be both beautiful and functional.
Extreme Makeover—Spending Plan Edition
Designing a Spending Plan is like designing a house. The outcome depends on how well you plan and consider all your needs. To develop a worthwhile Spending Plan, first you need to learn about your “Spending Plan Worksheet.” It’s a key tool in organizing all the elements of your well-designed plan. Your Worksheet helps you map out a plan best
suited to your unique goals and needs. You’ll be led through each step to take in managing your income and expenses. With it you can control your finances and enjoy a healthy future your family can depend on.
Where are you now?
Before starting your journey to financial freedom, you need to know where you are now. Your Spending Plan Worksheet helps you discover your current income and expenses. The easiest source is your prior month’s income and spending. The next sections lead you through every step. You can do this.
“Hope for the best, prepare for the worst.”
~ Old English Proverb
26 Workbook 1: Building a Spending Plan that Works