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30 Days to
WORKSHEETS
by
Tarra Jackson"Madam Money"
Financial Freedom
Copyright © 2015 30 Days to Financial Freedom Challenge Worksheets
30 Days to Financial Freedom Challenge. Copyright © 2015
Disclaimer:This workbook is designed to provide accurate and reliable information on the subject of personal finance. The informationprovided in these worksheets is shared with the understanding that the author is not engaged in representation of legal,accounting or other professional services by sharing these worksheets. An appropriate professional should be consultedregarding questions pertaining to personal finance as each individual situation is different and unique. The author disclaimsany liability, loss, or risk that is incurred as an outcome, directly or indirectly, through the use and application of anycontents of the challenge and worksheet. These worksheets are to be used for informational purposes only.
How the Challenge works
Getting ReadyDay 1: Commit to Change (Online Survey)Day 2: Assess Your Financial Situation (Online Survey)Day 3: Clear Out Financial ClutterDay 4: Select a Family CFO
Creating a PlanDay 5: Set Your PrioritiesDay 6: Set S.M.A.R.T. GoalsDay 7: Set Short, Mid & Long-Term Goals (Worksheet)
Tackling DebtDay 8: The Debt Test (Online Survey)Day 9: Pay Down Debt (Worksheet)
Money ManagementDay 10: Know Your Cash Flow (Worksheet)Day 11: Find Out Where The Money Is Going (Worksheet)Day 12: Identify Ways to Reduce SpendingDay 13: Save Money on Groceries (Worksheet)Day 14: Document Fixed Monthly Expenses (Worksheet)Day 15: Plan For Periodic Expenses (Worksheet)Day 16: Expect The UnexpectedDay 17: Save For Your GoalsDay 18: Secure Your Financial FutureDay 19: Build Your Budget (Worksheet)Day 20: Calculate Your Net Worth (Worksheet)
Credit ManagementDay 21: Get Copies of Credit ReportsDay 22: Clean Up Credit ReportsDay 23: Understand The Cost Of Credit (Worksheet)
Risk ManagementDay 24: Protect Your Assets
Each day you will receive a Simple Financial Task to complete to help you during your journey toFinancial Freedom.
HOW TO USE THIS WORKBOOKAre you ready for Financial Freedom? Well, this 30 Days to Financial Freedom Challenge will help youget there.
Keeping the MomentumDay 25: Share A Tip Of ChangeDay 26: Keep Track of Your Financial Documents & AccountsDay 27: Assemble Your Financial TeamDay 28: Appreciate Your RewardsDay 29: Move Forward Towards Your Financial FreedomDay 30: Commit to Continue
How to ensure your success
I'm everywhere!
Madam Money Website: www.MadamMoney.com
Madam Money's Financial Blog: www.MadamMoney.com/blog
Facebook: Facebook.com/TarraJacksonEnterprises
Facebook Group: Facebook.com/groups/wealthwarriors
Twitter & Instagram: @MsMadamMoney
* Join the 30 Days to Financial Freedom Challenge Facebook Group to connect with other ChallengeWealth Warriors. It is a safe and private environment to share your challenges and successes duringthis Challenge. We are in this together!* Share your successes and challenges with me, leave comments in the Facebook group of other socialmedia, or ask me a question.
* Read and commit to doing the Simple Financial Task every morning.* Do the Simple Task. If you have questions or need help, email [email protected]
Greetings! Here's the last step to begin the 30 DAYS TO FINANCIAL FREEDOM CHALLENGE.
In order to record your best results, answer these few quick questions.
This 10-question survey only takes 60 seconds to complete. Then, you will be registered for the 30Days to Financial Freedom Challenge!
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30 Days to Financial Freedom Challenge Survey
Welcome to the 30 Days to Financial Freedom Challenge Survey
NextNext
Exit this survey
30 Days to Financial Freedom Challenge Survey
Demographic Information
* 1. Required to participate in the 30 Days to Financial Freedom Challenge.Name
State/Province
Country
Email Address
* 2. Are you male or female?
Male
Female
* 3. Age
<18
18 - 29
30 - 44
45 - 59
60+
Exit this survey
* 4. Race:
Some other race (please specify)
White
Black or African-American
American Indian or Alaskan Native
Asian
Native Hawaiian or other Pacific Islander
From multiple races
* 5. What is your approximate household income?
$0-$24,999
$25,000-$49,999
$50,000-$74,999
$75,000-$99,999
$100,000-$124,999
$125,000-$149,999
$150,000-$174,999
$175,000-$199,999
$200,000 and up
* 6. What is your relationship status?
Married
Widowed
Divorced
Separated
In a domestic partnership or civil union
Single, but cohabiting with another person
Single, never married
* 7. Do you have children (in the household)?
Yes
No
Other (please specify)
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8. What are your Financial Challenges? (select all that applies)
Can't budget
Can't stick to budget
Excessive Spending
Struggling to Save
Difficulty paying bills on time
Student loan debt
No retirement plan
Difficulty paying mortage
Credit card debt
Medical debt
Low credit score
No investments
No or minimal understanding of investing
Being harassed by collectors
Other (please specify)
* 9. What are your Financial Goals? (select all that applies)
Be debt free
Pay bills on time
Create a budget
Stick to a budget
Create and stick to a savings plan
Major purchase (home, car or major appliance)
Learn and understand how to read credit report
Increase credit score
Learn how to invest
Start investing
Increase savings
Pay off all bills
Vacation / Travel
Establish an emergency fund
Other (please specify)
* 10. What does Financial Freedom mean to you?
Living a debt free life
Owning a home
Having a significant emergency fund (3-6 months of salary)
Having enough Retirement Savings
Having enough Life Insurance
Leaving a Positive Financial Legacy to my family
Being able to help my family, friends or church financially
Being able to travel when and where I want
Starting my own business
Other (please specify)
PrevPrev NextNext
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30 Days to Financial Freedom Challenge Survey
Welcome to the 30 Days to Financial Freedom Challenge Survey!
Thank you for completing the Survey and WELCOME to the 30 Days to Financial Freedom Challenge!
Tarra Jackson aka Madam Money
Connect with me:
Facebook Group: www.facebook.com/groups/wealthwarriors/Website: www.MadamMoney.comFacebook: FB.com/tarrajacksonenterprisesTwitter: Twitter.com/MsMadamMoneyInstagram: Instagram.com/MsMadamMoneyPinterest: Pinterest.com/MadamMoney
PrevPrev Submit SurveySubmit Survey
Exit this survey
Take the Pledge!
Are you ready to accept responsibility for changing yourfinancial situation?
Do you believe that you can and will change the way youmake financial decisions?
Can you identify at least one benefit you hope to gain bychanging your money management behavior?
If you have consistently answered YES, pledge to continueon the path to Financial Freedom:
1. I will make informed financial decisions,understanding the difference between needs andwants.2. I will communicate with my family aboutmoney so that we are all working towards thesame goals.3. I will be aware the effects of advertising onthe financial decisions I make, and resolve notto be influenced by them.4. I will take care of my finances today bytracking expenses and creating a budget that isrealistic and flexible.5. I will take care of my finances tomorrow bysaving for my future today.6. I will meet the credit obligations I have madeon time.7. I will continue my financial education aboutfinancial health, budgeting, credit and personaldebt.8. I will plan for periodic expenses, includingnext holiday season shopping or my nextvacation.9. By good example, I will teach my children theimportance of budgeting, saving and the wiseuse of credit.10. If I am overobligated, I will take thenecessary steps to ask for assistance.11. I pledge to take steps to improve myfinancial situation for financial freedom.
First Last
/ /
Name *
Email Address *
Date *
Assess Your Financial Situation
* 1. Generally, do you?
Never Sometimes Always
1. Pay the rent/mortgagepayment and utility billson time?
2. Save at lest 10% ofyour net income?
3. Keep three monthsnet income in reserve foremergencies?
4. Plan ahead for largeexpenses?
5. Set and keep financialgoals?
6. Follow a budget?
7. Comparison shop?
8. Regularly review yourcredit report?
9. Examine yourchecking accountstatements often?
10. Continue yourfinancial education?
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Scoring:
Add your points using the column metric provided. Never = 0 points, Sometimes = 1 point, Always = 2 points.
0-10 Points: Indicates a need to take control of your finances; following the 30 step plan will go a long way to achieving this.
11-15 Points: Reflects a good effort to manage your money effectively. The 30 step plan can help determine changes that can bemade to improve your financial well-being.
16-20 Points: Demonstrates ability to manage your finances successfully. The 30 step plan can help you continue to make moneymanagement a priority.
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Assess Your Financial Situation
PrevPrev DoneDone
Financial Priorities Worksheet
INSTRUCTIONS: Check whether the item is a “need” or “want.” Then, rank the item’s priority based on importance. When you arefinished, print the survey before you submit it, and then put the worksheet in a safe place. This will be very helpful when setting yourfinancial goals!
* 1. Priority
Need or Want Rank
Paying off unsecureddebt
Paying off secured debt
Saving for emergencies
Saving for retirement
Saving for child's collegeeducation
Saving for downpayment on a home
Buying a home
Taking a vacation
Having money forentertainment
Starting / maintaining asavings account
Starting a business
Other (please specify)
NOTE: Before submitting this simple task, print this page for your future reference.
DoneDone
DAY 7 - FINANCIAL GOALS
SHORT-TERM GOALS (UP TO 2 YEARS) TARGETDATE
COSTESTIMATE
AMOUNT ALREADYSAVED/PAID
AMOUNT NEEDED /MONTH TO REACH
GOALEx. PAY DOWN MACYS CREDIT CARD 8/1/2015 500.00$ 100.00$ 400.00$12345
MID-TERM GOALS (2 - 5 YEARS) TARGETDATE
COSTESTIMATE
AMOUNT ALREADYSAVED/PAID
AMOUNT NEEDED /MONTH TO REACH
GOALEx. ESTABLISH EMERGENCY SAVINGS 12/1/2018 5,000.00$ 1,000.00$ 4,000.00$12345
LONG-TERM GOALS (MORE THAN 5 YEARS) TARGETDATE
COSTESTIMATE
AMOUNT ALREADYSAVED/PAID
AMOUNT NEEDED /MONTH TO REACH
GOALEx. PREPARE FOR RETIREMENT 1/1/2020 25,000.00$ 3,500.00$ 21,500.00$
* SAVE THE DOCUMENT TO ACCESS AND REFER TO THE WORKBOOK LATER. PRINT THIS PAGE FOR YOUR REFERENCE.
The Debt Test
Answer the following questions to determine if you need a plan for payoff.
1. Financial Freedom Member InformationName
Email Address
* 2. Is an increasing percentage of your income going towards paying down debts?
Yes
No
* 3. Is your savings cushion inadequate or nonexistent?
Yes
No
* 4. Are you near or at the limit of your lines of credit?
Yes
No
* 5. Can you only make the minimum payments on your revolving charge accounts?
Yes
No
* 6. Are you often late with bill payments?
Yes
No
* 7. Are you paying bills with money earmarked for something else?
Yes
No
* 8. Are you using credit to pay for items you used to buy with cash?
Yes
No
* 9. If you lost your job, would you be under immediate financial strain?
Yes
No
* 10. Are you unsure about how much you owe?
Yes
No
* 11. Are you being threatened by collectors with possible legal action?
Yes
No
NextNext
The Debt Test
How did you do?
A ‘Yes’ to any of thsse questions is a sign that you may need to make debt payoff a priority.
The worksheet for Day 12 will help you get an accurate picture of your obligations. Keep that worksheet handy, you will make a planfor payoff in a few days.
DAY 9 - DEAL W DEBT WORKSHEET
MONTH YEAR
CREDITORS / DEBTS BALANCEINTEREST
RATE EST. ANNUAL
FINANCE CHARGES PAYMENT
MADE NEW
BALANCEEx. Credit Card 1,000.00$ 18% 180.00$ 50.00$ 1,130.00$1234567891011121314151617181920
TOTAL N/A
DAY 10 - INCOME WORKSHEET
Source of Income (enter text) TOTAL NOTESMonthly Gross Income -$Deductions (-) -$ -$ -$ -$ -$
Federal Income Tax -$FICA / Retirement -$Medical Insurance -$Life Insurance -$Dental Insurance -$Co. Stock Purchase -$Payroll Deduction - Savings -$Payroll Deduction - Loans -$Union Dues -$Child Support -$Other -$
Monthly Net Earned Income -$ -$ -$ -$ -$Other Monthly Income -$Additonal Periodic Income -$Total All Monthly Net Income -$ -$ -$ -$ -$
DAY 11 - DAILY EXPS WORKSHEET
Date 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 TotalEnter item -$Enter item -$Enter item -$Enter item -$Enter item -$Savings -$Groceries -$Meals & Snacks at Work -$School Lunches -$Dining Out -$Electricity -$Gas / Heating -$Water / Sewer / Garbage -$Cable / Sattellite -$Internet Charges -$Phone / Cell Phone -$Gasoline for Car) -$Bus Fares / Parking / Tolls -$Clothing -$Uniforms -$Dry Cleaning / Laundromat -$Cleaning Supplies / Personal -$Barber & Beautician -$Children's Allowance -$Baby Sitter -$School / Tuition / Activities -$Cigarettes / Tobacco / Alcohol -$Recreation -$Books / Newspapers / Magazines -$Video / Book / Tape / CD Clubs -$Hobbies / Lessons -$Doctor Visits -$Dentist -$Medicine -$Bank Charge / ATM -$Postage -$Periodic Expenses -$Other: -$Other: -$Other: -$Other: -$Total -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$
Variable ExpensesFixed Expenses
YEAR:MONTH:RECORD OF DAILY EXPENSES
DAY 13 - MEAL GROCERY WORKSHEET
SUNDAY MONDAY TUESDAY WENDESDAY THURSDAY FRIDAY SATURDAY
BLDS
B = Breakfast, L = Lunch, D = Dinner, S = Snacks
FRUITS MEAT & FISH DAIRY & REFRIGERATED GENERAL SNACKS FROZEN HOUSEHOLDq Apples q Ground Turkey q Milk q Peanut Butter q Crackers q Ice Cream q Paper Towelsq Bananas q Ground Beef q Eggs q Jelly q Chips q Pizza q Garbage Bagsq Grapes q Chicken q Butter q Coffee q Salsa / Dip q _____________________ q Aluminum Foilq Pears q Bacon q Yogurt q Tea q Nuts q _____________________ q Laundry Detergentq _____________________ q _____________________ q Cheese q Ketchup q Cookies q _____________________ q Fabric Softenerq _____________________ q _____________________ q Lunch Meat q Mustard q _____________________ q _____________________ q Light Bulbsq _____________________ q _____________________ q _____________________ q Mayonnaise q _____________________ q _____________________ q Batteriesq _____________________ q _____________________ q _____________________ q Salad Dressing q _____________________ q _____________________ q Dish Detergentq _____________________ q _____________________ q _____________________ q Pasta Sauce q _____________________ q Household Cleaner
q _____________________ q _____________________ q _____________________ q _____________________ OTHER q SoapVEGETABLES q _____________________ q _____________________ q _____________________ q Hand Soapq Cucumbers CANNED q _____________________ q _____________________ BAKING q _____________________ q Lotionq Spinach q Beans q Flour q _____________________ q _____________________q Broccoli q Tomatoes GRAINS BAKED GOODS q Sugar q _____________________ q _____________________q Tomatoes q Tuna q Pasta q Bread q Cake Mix q _____________________ q _____________________q Potatoes q Soup q Rice q Bagels q _____________________ q _____________________ q _____________________q _____________________ q Vegetables q Cereal q Tortillas q _____________________ q _____________________ q _____________________q _____________________ q _____________________ q _____________________ q _____________________ q _____________________ q _____________________ q _____________________q _____________________ q _____________________ q _____________________ q _____________________ q _____________________ q _____________________ q _____________________q _____________________ q _____________________ q _____________________ q _____________________ q _____________________ q _____________________ q _____________________
GROCERY SHOPPING LIST
WEEKLY MEAL LIST
DAY 14 - FIXED EXP WORKSHEET
FIXED EXPENSES - HOUSING -$Mortgage / Rent -$Real Estate Taxes -$Insurance -$Heating / Electricity -$Telephone -$Cable / Satellite -$Internet -$Water / Sewer -$Trash Service -$
FIXED EXPENSES - TRAVEL -$Auto payment -$Auto insurance -$Gasoline / public transportation -$Repairs / maintenance -$
FIXED EXPENSES - CHILD CARE -$Child care / babysitters -$Child support / alimoney -$
OTHER -$-$-$-$-$-$
TOTAL -$
DAY 15 - PERIODIC EXP WORKSHEET
PERIODIC EXPENSES Amount Due # of Monthsuntil Due
Amount to Save perMonth
Ex. Auto Registration $ 400.00 5 $ 80.00Auto RegistrationBack to School ShoppingBirthday GiftsChristmas GiftsFederal Taxes OwedState Taxes OwedVacationOther:Other:Other:Other:Other:Other:
INSTRUCTIONS: Enter the amount due for each periodic expense. Then, enter the number ofmonths until the expense payment is due. Divide the Amount by 12 months. Then, Multiply thatnumber by # of Months Until Due to get the Amount To Save Per Month. Refer to Day 15 -DOCUMENT PERIODIC EXPENSES lesson for ways to manage Periodic Expenses.
DAY 19 - BUDGET WORKSHEET
Month _______________________ Year ___________
Budget Actual Variance
Income
-$ -$ -$
GiveDonationsTithesDonations
Total Giving -$ -$ -$
Savings / InvestmentSavingsGeneral Savings AccountHoliday FundEmergency FundPeriodic Expenses
Total Savings/ Investing -$ -$ -$
ExpensesHousing ExpensesMortgage / Rent Expense
Total Housing Costs -$ -$ -$Vehicle ExpensesCar / Lease Payment(s)
-$ -$ -$InsuranceInsurance - CarInsurance - Homeowner'sInsurance - Healthcare / MedicalInsurance - DentalInsurance - Life
-$ -$ -$Food Expenses
Dining OutChild's School Lunch
-$ -$ -$Debt Expenses (not payroll deducted)Loan Payment(s)Loan Payment(s)Loan Payment(s)Loan Payment(s)
-$ -$ -$Personal Care Expenses
-$ -$ -$Pet Care
-$ -$ -$-$ -$ -$-$ -$ -$
Fun
-$ -$ -$Final Net Income (Net Income above - Total Fun Costs) -$ -$ -$
Phone (LandLine & Cell) Expense
GasolineTotal Housing Costs
Total Personal Care Costs
Total Vehicle Costs
Salary 1 (Take Home Pay)Income 2
Total Income
Income 3Income 4
Electric / Gas Expense
Hair Salon / Barber
Medical / HealthcareManicure / Pedicure
Total Food Costs
Cable / Satellite Television ExpenseInternet Expense
Groceries
Total Debt Costs
INSTRUCTIONS: 1. ENTER THE COST AMOUNT FOR ALL EXPENSES. 2. ADD UP EACH CATEGORY. 3. FOLLOW THE EQUATION TO DETERMINNET INCOME & FINAL NET INCOME.
Total Fun Costs
Pet SuppliesPet Food
Miscellaneous
ShoppingTravel
EntertainmentGifts
Total Pet Care CostsTotal Expenses (Add up all Expenses Categories)Net Income (Total Income - Total Giving, Savings/Investing & Expenses)
Fun Expense
DAY 20 - NET WORTH WORKSHEET
ASSETS LIABILITIESTotal Cash and Equivalents Total Mortgage (principal only)
CashChecking / Savings Total Other DebtOther Home improvement loans
Student loansTotal Real Property (Mkt. Value) Credit cards
Real Estate Car loansCar OtherPersonal PropertyOther Total Taxes Owed
State and localTotal Investments Federal
CDsStocks / Bonds Total Contractual ObligationsMutual Funds Leases, tuitionOther
Total LIABILITIES (Add up each category)Total Retirement Accounts
IRA CALCULATE YOUR NET WORTHPension Fund (vested) AssetsOther Minus (-)
LiabilitiesOther Appraisable Assets Equals (=)
Total ASSETS (Add up each category) NET WORTH
DAY 23 - COMPARE CREDIT SHEET
COMPARE INSTALLMENT LOAN OFFERS
Name of Lenders to ConsiderAmount financedInterest rate (APR) (%)Finance Charge ($) (Amt Financed X APR)Length of loan (#)FeesTotal Cost of loan (Amount Financed + Finance Charge Amount + Fees)Prepayment penaltyCredit Insurance
COMPARE CREDIT CARD OFFERS
Name of Lenders to ConsiderAnnual fee ($)Interest rate (APR) (%)Introductory APR (%)Minimum payment ($)Credit limit ($)Late & over limit fees ($)Billing cycle (Day each month)Grace period (# of days)Transaction fees ($)Cash advance fees ($)Credit insurance ($ or % of balance)
DAY 26 - FINANCIAL DOC TRACKER
LEGAL DOCUMENTS LOCATED (FILE, SAFE DEPOSIT BOX, ETC.)Birth Certificate(s) / Adoption PapersMarriage LicenseDivorce PapersSocial Security Card(s)Passport/Green CardNaturalization DocumentsWillPower(s) of Attorney (personal/property)Mortgage or Real Estate Deeds of TrustVehicle Registration / Ownership PapersID / Driver's License
TAX STATEMENTS LOCATED (FILE, SAFE DEPOSIT BOX, ETC.)Previous Year's Tax ReturnsProperty Tax StatementPersonal Property Tax (ex. Car Tax)
FINANCIAL STATEMENTS LOCATED (FILE, SAFE DEPOSIT BOX, ETC.)Bank / Credit Union StatementsCredit / Debt Card StatementsRetirement Accounts (401k, 403b, TSP, IRA) StatementsInvestment Accounts (Stock, Bonds, Mutual Funds) StatementsOther Statement ____________________________
SOURCES OF INCOME / ASSETS DOCUMENTS LOCATED (FILE, SAFE DEPOSIT BOX, ETC.)Recent Pay Stubs for all sources of incomeGovernment Benefits (ex. SSI, TANF, Veterans)Alimony IncomeChild Support IncomeProfessional Appraisals of Personal PropertyRewards Accounts (ex. Frequent Flyer Programs, Hotel Rewards)Other Documents _____________________________
FINANCIAL OBLIGATIONS DOCUMENT LOCATED (FILE, SAFE DEPOSIT BOX, ETC.)Mortgage StatementLeaseUtility Bills (Electric, Water, Gas)Auto LoanStudent LoanAlimony PaymentsChild Support PaymentsElder Care FacilitiesOther Debt _____________________________
INSURANCE DOCUMENTS LOCATED (FILE, SAFE DEPOSIT BOX, ETC.)Property InsuranceRental InsuranceAuto InsuranceLife Insurance
MEDICAL DOCUMENTS LOCATED (FILE, SAFE DEPOSIT BOX, ETC.)Health Insurance ID Card(s)Record of Immunizations / AllergiesList of Necessary MedicationsDisabilities DocumentationLiving WillDental Records / Child Identity Cards / DNA SwabsOther _______________________________
MILITARY DOCUMENTS LOCATED (FILE, SAFE DEPOSIT BOX, ETC.)Current Military IDMilitary Discharge DD 214Other _______________________________
DAY 26 - FINANCIAL ACCT TRACKER
DEPOSIT ACCOUNTS NAME OF FINANCIAL INSTITUTION ACCOUNT NUMBER BALANCE BENEFICIARY BENEFICIARY CONTACT INFO PHONE NUMBER LAST DATE UPDATEDSaving Account(s)Checking Account(s)Money Market Account(s)Investment Account(s)Retirement Account(s)
CREDIT ACCOUNTS NAME OF LENDER ACCOUNT NUMBER BALANCE COLLATERAL CREDIT LIFE / CREDIT DISABILITY PHONE NUMBER LAST PAYMENT DATEAuto LoanMortgage LoanCredit Card(s)Student Loan(s)
INSURANCE ACCOUNTS NAME OF CARRIER ACCOUNT NUMBER INSURED AMOUNT BENEFICIARY BENEFICIARY CONTACT INFO PHONE NUMBER LAST DATE UPDATEDLife InsuranceAuto InsuranceRental InsuranceProperty InsuranceHomeowner's InsuranceBusiness InsuranceMedical InsuranceDental Insurance
CERTIFICATE OF COMPLETION this certificate certifies that
______________________
has successfully completed the
Signature Date
