At “Our Family Patch” we think every household could benefit from preparing a budget and in general keeping track of their spending on a monthly basis. A family should also set financial goals for emergency funds, college education and retirement. Develop a plan and monitor progress towards the achievement of the goals. Periodically review your plan and make adjustments as needed. The important thing is to be deliberate about your financial future. When you go on a long trip, you always take a map, or today a GPS, to guide the journey. Your life is long and whether we like it or not, finances are a necessary part of our life. You need a financial GPS to be successful in this part of your life also.
We highly recommend using a financial tool such as Quicken. These programs are very easy to use and they keep track of everything you need. They also have educational components to help you learn about areas that you need guidance in. Having a financial adviser help you set up and monitor a plan is also a good idea.
Below are links to three (3) Excel spreadsheets that you can use to develop a budget and compute your Net Worth.
Click on links below to download the spreadsheet.