Instructions for use of the Financial Planning Worksheet in Excel

STEP 1: IMMEDIATELY AFTER OPENING THIS DOCUMENT, SELECT FILE AND THEN SAVE THE FILE UNDER A DIFFERENT NAME.
FPW Page 1: Cells B5,6,8,17,18,19,20 and cells C5,6,8,17,18,19,20 must be filled in for the program to run properly. Pay grade: Choose from pull down menu. Marital Status: Choose from pull down menu. This will determine amount of BAH that member receives. WD is for with dependents BAH, S is for single BAH, P is for partial BAH, "G" is for government quarters, and D is for BAH Diff only. If member is receiving Single BAH and BAH Diff, then add the two amounts from Pay Scale and override entry on the Monthly Income page. FSGLI & SGLI: amounts are in thousands of dollars. Select amounts from pull down menus. For FSGLI to be calculated correctly, spouses age must be entered in blocks B10 and C10. TSP: enter total amount of TSP contribution not percentages. MGIB: defaults to zero unless selected otherwise from pull down menu. Income Page: Warning: Fields that have a yellow background are calculated fields and are automatically generated. You may override any calculated entry, but it will result in the permanent loss of formulas used to generate the entries. BAS: select from pull down menu. F is standard amount, R is higher amount for rations in kind not available, N is none or leave blank. P is partial BAS and is no longer paid directly, however member may have surplus left from BAS after cost of meals is deducted. This amount can be entered directly as an override. FSA: defaults to none unless select Yes from pull down menu.

FITW Filing Status: defaults to Single with zero exemptions. To change filing status and number of exemptions claimed, select from respective pull down menus. Tricare Dental: defaults to none. S is premium for single family member and F is for more than one family member. Remarks: double-clicking on the remarks allows you to edit them without deleting the existing contents.

Savings & Living Expenses: Savings and Investments are totaled separately. Compare total with recommended amount in SAVINGS block that is calculated equal to 10% of net monthly income. Under the insurance section, FSGLI, SGLI and Tricare Dental amounts are automatically transferred from Monthly Income page. Living expenses are totaled separately and do not include savings and investment amounts from top of page. Indebtedness: Advance payments and overpayments are automatically retrieved from monthly income page, but outstanding balances for each must be entered. Enter remainder of creditors using required minimum monthly payment amounts, even if member pays more than minimum. This will result in a more accurate debt-to-income ratio calculation. Action Plan: Record all proposed options discussed that will increase income, decrease living expenses and decrease indebtedness. List any referrals or recommended training and enter members short and long term financial goals. Spending Plan: Total take home pay is calculated in upper left corner and then divided equally between 1st and 15th pay periods. Note that total take home pay includes members military take home pay, take home pay from members other employment, spouses take home pay, child support and alimony payments and other income from monthly income page. Column B defaults to total dollar amounts from each section of Savings and Living Expenses in the projected column and the projected monthly payments from Indebtedness page. To use actual column figures from Savings and Living Expenses and Indebtedness pages, select from pull down menu in upper left corner. Note that FSGLI, SGLI and Tricare Dental are not included in total for insurance, and advance payments and overpayments are not included as creditors. It will be necessary to subtract any other savings and living expenses that are automatically deducted from pay or are paid by allotment, e.g. TSP, other insurance and charity allotments. It also will be necessary to delete any creditor paid by allotment. The revised (over ridden) section totals and remaining creditors will reflect only those expenses and creditors that are actually paid from total take home pay. Monthly Spending Record: The last two pages of the FPW are for use by members to record, on a daily basis, their actual living expenses and bills paid from their total take home pay. Page 7 covers one pay period and page 8 covers a second pay period. Pay Scale: Contains various tables relating to pay and benefits. Entries in these tables can be changed or updated as necessary and then saved when exiting the excel program at the closing prompt.

Printing: You can print the current page, the entire workbook, or selected pages. To print the current page, you can use the Printer Icon on the tool bar. To print the entire workbook, use File, Print and select print entire workbook. To print selected pages, hold down the CTRL key and click on the tabs of the pages you would like to print. Click once to select, click the same tab again to de-select. Once you have selected the pages you want to print, press the Printer Icon on the tool bar to print them.

FINANCIAL PLANNING WORKSHEET

ACTUAL
NAME AGE PAYGRADE (E1, W2,O1E, ETC.) YEARS IN SERVICE DATE REPORTED/PRD (TRANSFER) MARITAL STATUS ( S, WD, P, G, D) SPOUSE'S NAME SPOUSE'S AGE SPOUSE'S PLACE OF EMPLOYMENT NUMBER OF CHILDREN and AGES HOME ADDRESS WORK TELEPHONE HOME TELEPHONE COMMAND & REFERRED BY: AMOUNT OF FSGLI ELECTED AMOUNT OF SGLI ELECTED TSP MONTHLY CONTRIBUTION MGIB MONTHLY CONTRIBUTION

Page 1
REMARKS 3/3/2014 RATE: Select from pulldown menu. Select from pulldown menu. Reported (Actual)/PRD (Projected)

PROJECTED

SSN:

WD WD

Select BAH from pulldown menu.

Required to compute FSGLI. Living with in act/away in proj.

00

00

00 00

00 00

Self, Unit, AFAS, FSC, Etc. Select from pulldown menu. Select from pulldown menu. Select from pulldown menu.

STATEMENT OF NET WORTH

ASSETS LIABILITIES

CASH (On Hand) Checking Accounts Saving Accounts Certificates of Deposits Cash value of life insurance U.S. Savings Bonds Mutual Funds/Money Market Stocks/Bonds College Funds 401(k)/403(b)/TSP Other (IRAs, etc.)
Real Estate (Market Value)

$ $ $ $ $ $ $ $ $ $ $

Signature Loans Auto Loans or Lease Consolidation Loans Student Loans AAFES/NEX (Star Card) Dept Store Credit Cards Other Credit Cards AFAS (Loan) Other (Friends, Relatives, etc.) Advance/Over Payments
Mortgages-Balances Due

$ $ $ $ $ $ $ $ $ $ $

Home $ Rental Property $ Other (Vac Hm/Trailer/Time Share) $

Home $ Rental Property $ Other (Vac Hm/Trailer/Time Share) $ $ $ $ $ $ TOTAL LIABILITIES

Personal Property
Vehicles/Motorcycles/Boats Furniture Jewelry Other (Collectibles, etc.) TOTAL ASSETS $ $ $ $

$0.00

$0.00

NET WORTH
Counseling Provided By:

$0.00

Counselor Phone #:

MONTHLY INCOME
ENTITLEMENTS Base Pay Basic Allowance for Housing (BAH) Overseas Housing Allowance (OHA) Basic Allowance for Subsistence (BAS) Family Separation Allowance (FSA) Flight Pay/Other Special Duty Pay Other Hazardous Duty Pay Taxable COLA Other (tax exempt/allowance eg. COLA/FSSA) TOTAL MILITARY COMPENSATION (A) Taxable pay ( ) DEDUCTIONS: ALLOTMENT ALLOTMENT ALLOTMENT ALLOTMENT ALLOTMENT ALLOTMENT Family SGLI (For Spouses) Servicemen's Group Life Insurance (SGLI) Uniform Services TSP MGIB FITW Filing Status Actual:
S 0

Page 2
PROJECTED $ $ $ N N N N $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ N N N N Select F, P, R, or N Select Y=Yes or N=No REMARKS

ACTUAL $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ -

Non-tax, allowance line. Excludes pretax ded for TSP/MGIB For/ends? For/ends? For/ends? For/ends? For/ends? For/ends? Amount from NetWorth Page Amount from NetWorth Page Amount from NetWorth Page Amount from NetWorth Page Proj Status: S 0 Base Pay only, Excludes MGIB Base Pay only, Excludes MGIB State Claimed:
N N

FICA (Social Security) FICA (Medicare) State Income Tax AFRH (Armed Forces Retirement Home) Tricare Dental Plan (TDP) Advance Payments Over Payments TOTAL DEDUCTIONS (B) CALCULATE NET INCOME Servicemember's Take Home Pay (A-B) Servicemember's Other Earnings (less taxes) Spouse's Earnings (less taxes) ALLOTMENT ALLOTMENT ALLOTMENT ALLOTMENT ALLOTMENT ALLOTMENT Family SGLI (For Spouses) Servicemen's Group Life Insurance (SGLI) Uniform Services TSP MGIB Tricare Dental Plan (TDP) Advance Payments Over Payments Child Support/Alimony (Received/Income) Other Income (e.g. SSI, Rental Income) TOTAL NET MONTHLY INCOME

N N

N=No, S=1, or F=2 or more Deps. Ends: Ends:

Divide by 2 for Payday amount.

"MONTHLY" "SAVINGS AND LIVING EXPENSES"

Note: Actual or Projected Figures can be carried forward to spending plan.

Page 3
PROJECTED
$0.00 $0.00 $0.00 $0.00

LIVING EXPENSES
SAVINGS 10% Minimum Actual Projected $0 $0

ACTUAL
$0.00 $0.00 $0.00 $0.00

REMARKS
Monthly Contribution Amount Monthly Contribution Amount Monthly Contribution Amount Monthly Contribution Amount

Emergency Fund (1-3 Months) Reserve Fund "Goal Getter" Fund Investments/IRAs/TSP/etc.

TOTAL SAVINGS AND INVESTMENTS (10%)

Rent/Mortgage Payment HOUSING Taxes/Fees Repairs/Maintenance Groceries FOOD Lunches (at work) Other (e.g. school lunches) Electricity Gas/Oil (House) UTILITIES Water/Sewage/Garbage Cellular Phones/Pagers/Phone Cards Telephone Gas/Oil (Vehicles) TRANSPORTATION Car Pool/Public Transportation Tax, License, Inspection, etc. Repairs/Maintenance Laundry/Dry Cleaning/Tailoring CLOTHES Clothing Purchased Yearly/12 Other Autos INSURANCE SGLI and Family SGLI Tricare Dental Plan (TDP) Other (e.g. Life/Health/Renters) Prescription Drugs HEALTH Doctor/Hospital Visits Dentist Visits Tuition/Fees EDUCATION Books Lessons Other (MGIB, Room & Board) Club Dues/Association Fees CONTRIBUTIONS Religious Charities Newspapers/Magazines Computer Internet Services SUBSCRIPTIONS Books/CDs/Records/Tapes/Videos Cable/Satellite TV Other (e.g. Pest Control, Lawn Service) Beauty Shop/Nails Barber Shop PERSONAL Cigarettes/Other Tobacco Vending Machines Liquor/Beer/Wine Other (Toiletries, Supplements, etc.) Dinner/Carry Out Movies/Video Rentals ENTERTAINMENT Hobbies/Software/etc. Sports/Youth Leagues/Scouts Gifts/Vacation Other (Clubs, Lottery, etc.) Child Care DEPENDENT CARE Child Support/Alimony (You Pay Out) Allowances Furniture, Appliances, Household Items MISCELLANEOUS Pet Supplies, Grooming, Vet Other (ATM Fees, Stamps, etc.)

$0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

$0.00
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Local = $_______/Long Distance = $ ________

Consider age of car/number of miles.

Both service member and Family SGLI Add additional insurance costs here.

Dance, Music, Self-Defense, Tutor, etc. Place Montgomery GI Bill (MGIB) here.

ABC, Package Store, etc.

Include Spectator Sports Include Birthdays, Holidays, Anniversaries, etc. Include Other Dependant Care

Recommend $50-$150 Buffer

TOTAL MONTHLY LIVING EXPENSES (70%)

$0.00

$0.00

INDEBTEDNESS (20%)
CREDITOR (ACCOUNT #/PHONE #) PURPOSE MO. PYMT BALANCE PROJ.PMT

REMARKS (MOS. BEHIND, PAID BY ALLOTMENT, ETC.) APR

Page 4 (%)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1 US Govt. 2 US Govt. 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

Advance Pmts. $ Over Payments $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ TOTAL $

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

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

Automatic Deduction Automatic Deduction

ACTUAL NET INCOME (Bottom of Page 2) SAVINGS AND INVESTMENTS (Near Top of Page 3) LIVING EXPENSES (Bottom of Page 3) AMOUNT LEFT TO PAY DEBTS DEBTS (Bottom of Page 4) SURPLUS OR DEFICIT

PROJECTED

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 #DIV/0!

$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 #DIV/0!

Note: Projected figures will be carried forward to spending plan.

DEBT TO INCOME RATIO

Page 5

ACTION PLAN
PROPOSED OPTIONS Increase Income
1. 2. 3. 4. 5. 6.

Decrease Living Expenses

1. 2. 3. 4. 5. 6.

Decrease Indebtedness
1. 2. 3. 4. 5. 6.

REFERRALS/RECOMMENDED TRAINING
1. 2. 3. 4. 5. 6.

SETTING YOUR GOALS

(SHORT TERM & LONG TERM)

Goal
1. 2. 3. 4. 5. 6.

Cost

/ Date Wanted

= Monthly Savings to Reach Goal

Use Actual Use ActualColumn Column

TOTAL TAKE HOME PAY BY PAYDAY

SPENDING PLAN
$0.00
1ST

Page 6
Month

Month

Month

$
P A

15TH

$
P A

1ST

$
P A

15TH

$
P A

1ST

$
P A

15TH

$
P A

P=Planned/A=Actual

Note: Subtract all savings or living expenses deducted from pay (e.g. TSP) or paid by allotment.
SAVINGS AND INVESTMENTS HOUSING FOOD UTILITIES TRANSPORTATION CLOTHES INSURANCE HEALTH EDUCATION CONTRIBUTIONS SUBSCRIPTIONS PERSONAL ENTERTAINMENT DEPENDENT CARE MISCELLANEOUS CREDITORS:

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

0 $ $ $ $ $ $ $ $ $ $ $ $ -

Delete all creditors paid by allotment

TOTALS:

MONTHLY SPENDING RECORD

Keep track of your daily spending for two weeks Keep a record of how you spend your money for the next two weeks. The secret is to record it when you spend it. Using a "stickie" note in your wallet or purse will help you track your expenditures. When you go for your money make a note on your "stickie"; (put the amount and what you spent your money on). At the end of the day, transfer the recorded amounts to this record. Be sure to include bills paid, along with sodas, lunches, etc. Remember this is for tracking your take home pay, don't include allotments. TAKE HOME PAY FOR TWO WEEKS
DATE: Item Amount DATE: Item Amount DATE: Item Amount

Dates
DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

Take Home Pay Amount Spent Balance +$

-$ $ (+ or -)

Page 7

Keep a daily record like you did for the first two weeks. Remember to count ALL spending. TAKE HOME PAY FOR TWO WEEKS
DATE: Item Amount DATE: Item Amount DATE: Item Amount

Dates
DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

DATE: Item Amount

Take Home Pay Amount Spent Balance +$

-$ $ (+ or -)

Page 8