Personal Financial Management

Individual Financial Plan

Complete the Gray Shaded Cells
Name Date of Separation Unit and Office Symbol Family Size Including Member Home Address City, State and Zip Code Supervisor's Name Unit Commander Counselor Rank Date of Reinlistment Duty Phone Spouse's Name Next Pay Increase

Date

Duty Phone Duty Phone Duty Phone

SSN Years Service Home Phone Child's Age Child's Age Child's Age Child's Age Child's Age Child's Age Child's Age PFM Recommendations
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13.

Personal Budget Summary

Don't Enter Any Information in these Blocks Total Monthly Income $ Total Monthly Expenses $ Total Monthly Debt $ Monthly Surplus or (Deficit) $ Checking Surplus or (Deficit) $ Approximate Net Worth $
Operation Warm Heart Future Lump Sum Payment Prior AFAS Total Assets
Vehicle One Vehicle Two Real Estate Holdings Checking - Balance Investments/Savings - Balance Personal Belongings/Other

Income
Service Income

Base Pay BAS Housing/BAH/Misc Maint Cola Special/Hazard/Fam Sep Pay

Non-Service Income
Member Off-duty Net Pay Spouse Net Pay/Other Income Value

Unearned Income
Child Spt/Alimony Interest/Dividends Other Income

Total Assets $

100%

Deductions Federal Income Tax State Income Tax FICA Social Security Medicare SGLI and SSH Commercial Life Insurance Alimony/Child Support Family/Supplemental Dental AFAF CFC Bonds GI Bill AFAS Loan Allotment Advance Pay Allotment Meal Deduction Other Deductions Total Deductions Housing Utilities (Gas and Electric) Garbage Water and Sewer Rent/Mortgage Payment Home Maint/Fence/Decoration Renter's Insurance Other Total Housing Expense Telecommunications Telephone Cable/Satellite Television Long Distance Cell Phone Internet Rental Movies Other Total Telecom Expense $ -

90%

80%

70%

60%

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Recommended Maximum and Minimum Allocations

1. Debt 20%: Car Payment, credit cards, etc. 2. Housing and Utilities 28%: Mortgage, rent, property taxes, insurance, repairs and improvements. Gas, electricity,
Debt Housing Telecom Trans Food Clothing

water trash, sewer and telephone (regular and cell).

3. Telecomm. 5% Cell, Internet, Cable

50%

4. Transportation 13%: Gas & oil, repairs, insurance, parking & public transportation. 5. Food 13%: All food items, dining out, and pet food. 6. Clothing 5%: All clothing purchases, shoes & alterations. 7. Personal 11%: Club dues, admissions,

40%

Personal Savings

30%

20%

10% 0% 0% 0% 0% 0% 0% 0% 0% 0%

hobbies, postage, tobacco, cosmetics, hair cuts, vacations, and holidays. 8. Savings and Investing Minimum: 5%

Monthly Expenses
$ $ $ $ $ $ $ $

Bi-Monthly Expenses
-

BI-Monthly Planned Expenses

$ $ $ $ $ $ $ $

Transportation Gasoline Auto Repairs/Maintenance (Oil) Automobile Insurance License, Taxes and Smog Bus/Carpool Parking/Mini Storage Other Total Transportation Expense Food Groceries Lunches (Self) Lunches (Family) Dining Out/Dinner Supplies, paper products, etc. Bottled Water Other Total Food Expense Clothing Uniforms Civilian Clothing Diapers Family Clothing Laundry and Dry Cleaning Other $ $ -

$ $ $ $ $ $ $ $ $

$ $ $ $ $ $ $ $ $

$ $ $ $ $ $

Total Clothing Expense Personal Child Care Beauty Care/Makeup/Haircuts Entertainment - Going Out Hobbies News/Mags/CDs/Videos, etc. Recreation/Golf/Bowl/Movies Club Dues Church and Charity Cigarettes and Alcohol Children (Toys/Allowance) Spending Money Postage/Shipping Pet Food and Care Education/Tuition/Lessons Prescriptions Medical/Dental Glasses/Contacts Christmas/Hannukah/Kwaanza Misc Other Gifts Vacations Other Total Personal Expenses Savings Allocations Bank/Credit Unions Taxable Investments TSP and Retirement Education Fund Safe Deposit Box Other Savings Total Savings Debt Service

Monthly Expenses
$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ -

Monthly Savings
$ $ $ $ $ $ $ $ -

$ $

$ $

Total Expenses
Creditor
Example: Car

$
Balance

$
Monthly Payments

$
APR

Bi Monthly Payments
$ -

Planned Bi-Monthly Payments

Example: Visa Example: MasterCard Example: Discover Example: Student Loan Example: Signature/Personal Loan Example: Loan from Family Member Example: Store credit card Example: Computer Loan

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

Total Debt Services

#DIV/0!