Now construct a future cash flow or a spending plan. Print out the following worksheet and fill it in. Think bare bones. What is the absolute minimum it would take to feed and house your family?
Monthly Cash Flow
Federal & State Taxes
Mortgage or rent
Credit card/loan payment
Utilities & telephone
Food (include eating out)
(c) Cash Balance (b) – (a)
It takes a lot of time to put a plan together, but if you do it well and thoroughly, you'll have something to aim for. It may not work out exactly as you've planned but a plan will give you a way to measure your progress.
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