Evaluate your life and determine your net worth! Give a list of your assets and liabilities (Don't worry if you don't have many of these). Also list your monthly income and expenses so you can calculate your cash flow position. Share your cash flow position and include ways that you could increase your cash flow or switch your cash flow from negative to positive. Make sure to comment on one of your classmates post if you want credit for this post!!!!!!
Asset:
ReplyDeleteSkateboard $170.00
iPhone $350.00
Laptop $320.00
= $850.00
Liability:
When I save up more money I’m going to buy a car and pay monthly for it, either from my dad or from a dealer.
Income:
Around $806.45/monthly
=$9,677.40/yearly
Expenses:
Food $25.00/monthly
Personal items $15/monthly
Medical $40.00/monthly
=$960.00/yearly
Networth:
Assets - liabilities
850.00 - 0.00 = $850.00
Cash Flow:
Income - expenses
Monthly: 806.45 - 80.00 = $726.45
Yearly: 9,677.40 - 960.00 = $8,717.40
You have a great foundation!!! Thanks for posting this!
DeleteYou're managing your money pretty well, you should open a savings account and save a certain amount each month and see how fast it accumulates.
DeleteI was wondering how you make that much income a month. Is that from a job? Also its really lucky that you have no liabilities you should try to keep it that way.
DeleteThanks Chris (both of you haha) Also I already have a savings account opened I just need to start throwing money into the account monthly.
DeleteNicole, I work a lot so my hours are good but I also get tips at work which increase my income by around a hundred dollars a month.
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DeleteNicole Boreland
ReplyDeleteNet Worth and Cash Flow
Assets
Car 1500
Tv 100
phone 100
Ipap 500
Xbox 250
Savings 600
Liabilities
Minor 178
Owe sister 100
Net Worth- 2772
Income
Gift 50
Babysat 50
Expenses
Netflix 8
Lean Chinn 8
Cigarettes 20
Recreational expenses 70
Groceries 30
Cash Flow- -36
Your income is that per month or per week??? What could you cut out of your expenses to increase your net worth even further??
DeleteChris Espinoza
ReplyDeleteNet Worth and Cash Flow
Assets
Tv- $300
phone- $150
PS3- $150
Savings- $1000
Liabilities
IOU’s- $600
Net Worth- $1000
Income
Job- $800 per month
Expenses
Food- $40 per month
Recreational expenses- $70 per month
Groceries- $120 per month
Shopping- $100 per month
Other expenses- $20 per month
Cash Flow- $450
I think it's smart that you have a savings account maybe you could save even more from each paycheck? Also how do you plan to pay your IOUs
DeleteYou might want to consider selling one of your assets or cutting back on recreational expenses to work toward paying back the IOU's and getting a positive cash flow. Also, only borrow money if you absolutely need it. The less you borrow, the less you'll owe.
DeleteFor your IOU, you might wanna think about setting up a payment plan
DeleteAssets:
ReplyDeleteBike $100
Hunter boots $150
Ugs $155
Camera $150
Iphone 5s $500
Tablet $200
Total: $1,255
Liabilities:
none
Networth: $1,255
Income:
Job $600/mo
Birthday $150
Total: $750
Expenses:
Work lunch $50
Clothes/Makeup/Shoes $200
Food $80
Gas $70
Other $60
Total: $460
Cashflow: $290
I think you're pretty good where you're at! If you wanted to have a little more money in your pocket for college or whatever, you could cut back on spending on clothes, make up, and shoes but you seem to be doing fine anyway
DeleteI think you have a pretty good net worth and a seemingly stable cash flow, if you wanted more cash flow then you could just drop some of the expenses of makeup and clothes.
DeleteYour income is great! Though, you should try and decrease your expenses with the things you don't really need to spend that much money on. So that your can increase your cash flow.
DeleteCongrats on no liabilities.
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ReplyDeleteAssets:
ReplyDeleteSavings account $7000
Bike $150
$100 cash
Necklace $80
iPhone 5 $300
Netbook $50
Stocks $2000
Liabilities:
None
Net Worth: $9680
Income:
$6.50/hour (8½ per week) $221 per month
Birthday money $100/year $8 per month
Christmas money $50/year $4
Expenses:
Movies $10 every two months? $5 per month
Food, drinks, candy $10/month
Cash Flow: $218. I could work more hours, spend less money, or get a higher paying job to increase my cash flow. However, I think I’m good where I am right now.
your net worth is pretty good for your age
DeleteAssets:
ReplyDeleteHP Laptop $1029.99
iPhone $399.99
iPad $599.99
Total: $2,029.97
Liabilities:
College loans $92,000
Net Worth: -$89,970.03
Income: About $200 every two weeks
Expenses: Japan Crate $30 a month
Cash flow: $170
Don't worry after you finish collage you'll have those loans paid off
DeleteYou should consider a savings account and really start saving money t pay for those college loans. Also what is a japan crate?
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ReplyDeleteCole Mayer
ReplyDeleteAssets:
Car: $1348
Snowboard: $300
Snowboard boots: $80
Longboard: $100
Iphone: $300
Skateboard: $50
Liabilities:
Car Insurance: $75
Networth: $2103
Income:
Work: $400 per month
Expenses:
Food: $60 per month
Gas: $180 per month
Other Fun Stuff: $80 per month
Cash Flow:
$80
You should probably drive less, and eat less... Also what is considered fun stuff?
DeleteWhat is fun stuff? If you have a good paying job along with this I don't see a problem with what you spend your stuff on, just be wise about your descions!
DeleteDoing swell so far, sir. Maybe spend less on "other fun stuff" in the future, since you're soon to not be a child anymore.
DeleteMy Net Worth
ReplyDeleteAssets
IPhone 6 $649
Bike $80
IOU
hospital bills $540
Net Worth
$649+80=729
729-540= $189
Thats all i basically own for right now. I know that's not much but in 4-5 years minimum i'm hoping on owning much more.im plaing on having a well payed job, while going to school. i'm going to open up a savings account and put at least half of my check into that account. to pay off my debts & to save up for an car and an apartment
Your doing good, once you get a good job going there will be a lot more stuff you can own.
DeleteI would have to say that it takes effort & motivation to be successful. Not everything is going to be handed down to you, so you have to go out & get things done & to keep trying to reach your goals. Motivation will keep you from not giving up on yourself. Staying motivated isn't easy but that's the challenge because in the end it will be worth all that hard work & effort.
ReplyDeleteLauren Calkins
ReplyDeleteNet Worth and Cash flow
Assets
Phone-$170
Car insurance-$70
Car note - $200
Gas-$40
Food-$30
Networth: $510
Income:
Work: $250 a week get paid every Tuesday’s. $500 a month.
Expenses:
Food: $60 per month
Gas: $160 per month
Other:
Cash Flow: $40
I could increase this by working more hours, to not behind on my bills. I love working but am in school as well to finish up my diploma.
ASSETS:
ReplyDeleteLongboard- $150
Skateboard- $75
Bike- $100
Signed Baseball Things- $5000
Laptop- $200
LIABILITIES:
None
NET WORTH: $5,525
INCOME:
LeeAnn Chin: $400/month
EXPENSES:
Food: $100/month
CASH FLOW:
$300/month