Financial Planning Worksheet - MCCS Okinawa

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Financial Planning Worksheet

Date_____________________________ SSN_ _____________________________ Rate____________________________ Name______________________________________________ Age_____________________________________________ Pay Grade__________________________________________ Yrs. in Svc._______________________________________

Date Reported/PRD (Transfer)__________________________________________________________________________ Marital Status______________________ Spouse's Name_ ____________________ Age_____________________________

Spouse's Place of Employment__________________________________________________________________________

Number of Children and Ages___________________________________________________________________________

Home Address_______________________________________________________________________________________ Work Telephone______________________________________ Home Telephone___________________________________

Command & Referred By (Self, CMD, NMCRS, FFSC, etc.)_ __________________________________________________

Amount of SGLI Elected_ ______________________________ Amount of FSGLI Elected____________________________

TSP Monthly Contribution______________________________ MGIB Monthly Contribution___________________________

STATEMENT OF NET WORTH

ASSETS

Cash on hand Checking accounts Savings accounts Certificates of Deposit

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

Personal Property

Vehicles/Motorcycles/Boats Furniture Jewelry Other (Collectibles, etc.)

$_____________ $_____________ $_____________ $_____________

$_____________ $_____________ $_____________ $_____________ $_____________

$_____________ $_____________

$_____________ $_____________ $_____________ $_____________

$_____________ $_____________ $_____________ $_____________

Counseling Provided By:___________________________ Counselor Phone #:_______________________________ Appointment Date:_______________Time:_____________ Place:__________________________________________

LIABILITIES

Signature Loans

$_ ___________

Auto Loans or Leases Consolidation Loans

$_ ___________ $_ ___________

Student Loans

$_ ___________

NEX/AAFES (Star Card)

$_ ___________

Department Store Credit Cards Other Credit Cards

$_ ___________ $_ ___________

NMCRS (Loan)

$_ ___________

Other (Friends, Relatives, etc.)

$_ ___________

Advance/Over Payments

$_ ___________

Mortgages-Balances Due

Home

$_ ___________

Rental Property

$_ ___________

Other (Vac Home/Trailer/Time Share)$____________

TOTAL ASSETS

TOTAL LIABILITIES

NET WORTH (Assets - Liabilities)

$_ ____________ $_ ____________

$_ ____________

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ENTITLEMENTS

* Base Pay

Basic Allowance for Housing (BAH I or II)

Overseas Housing Allowance (OHA)

Basic Allowance for Subsistence (BAS)

Family Separation Allowance (FSA)

* Flight Pay/Diving Pay/Flight Deck Pay * Submarine Pay * Other Hazardous Duty Pay * Sea Pay

Taxable COLA

Other (tax exempt/allowance eg. COLA/FSSA)

TOTAL MILITARY COMPENSATION

(A)

* Taxable pay (

)

DEDUCTIONS

ALLOTMENT

ALLOTMENT

ALLOTMENT

ALLOTMENT

Meal Collection Deduction

Family SGLI (For Spouses)

SGLI and T-SGLI

Uniform Services TSP

MGIB

FITW Filing Status Actual:

FICA (Social Security)

FICA (Medicare)

State Income Tax

AFRH (Armed Forces Retirement Home)

Tricare Dental Plan (TDP)

Advance Payments

Over Payments

TOTAL MILITARY COMPENSATION

(B)

CALCULATE NET INCOME

Service Member's Take Home Pay

(A-B)

Service Member's Other Earnings (less taxes)

Spouse's Earnings (less taxes)

ALLOTMENT

ALLOTMENT

ALLOTMENT

ALLOTMENT

Meal Collection Deduction

Family SGLI (For Spouses)

SGLI and T-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 MONTHLY LIVING INCOME

MONTHLY INCOME

ACTUAL

PROJECTED

ACTUAL

PROJECTED

ACTUAL $

PROJECTED $

$

$

*Note: Pay Entitlements are taxable. Allowance Entitlements are non-taxable.

REMARKS Monthly Contribution Amount

Excludes pretax ded for TSP/MGIB

REMARKS For/ends? For/ends? For/ends? For/ends?

Proj. Status: Base Pay Only, Excludes MGIB Base Pay Only, Excludes MGIB State Claimed: Ends: Ends:

REMARKS Divide by 2 fr Payday Amount

Actual:

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MONTHLY SAVINGS AND LIVING EXPENSES

SAVINGS

SAVINGS

Emergency Fund (1-3 months)

Goal: 10% of Net Income Reserve Fund

Actual

Projected "Goal-Getter Fund

$

$

Investments/IRAs/TSP/etc.

TOTAL SAVINGS AND INVESTMENTS (10%)

ACTUAL

PROJECTED

REMARKS Monthly Contribution Amount

LIVING EXPENSES

HOUSEHOLD

Furnishings

Maintenance/Repairs

Mortgage/Rent

Taxes/Fees

FOOD

Dining Out

Groceries

Lunches

Vending Machines

Meal Deductions

UTILITIES

Cable/Satellite TV

Cellular/Pagers/Phone Cards

Electricity

Internet Service

Natural Gas/Propane

Telephone

Water/Garbage/Sewage

CHILD CARE

Allowances

Daycare

Support

AUTOMOBILE Gasoline

Maintenance/Repairs

Other

CLOTHING

Laundry/Dry Cleaning

Purchases ($50 monthly per person)

INSURANCE

Automobile

Health/Life

Homeowners/Renters

SGLI/T-SGLI/FSGLI

Tricare Dental

HEALTHCARE Dental

Eye Care

Hospital/Physician

Prescriptions

EDUCATION

Books

Tuition/Fees

MGIB

CONTRIBUTIONS Charities

Club Dues/Association Fees

Religious

LEISURE

Athletic Events/Sporting Goods

Books/Magazines

Computer Products (Software/Hardware)

DVD/VHS/Video Games/CDs

Entertaining

Lessons/Toys & Games

Travel/Lodging

GIFTS

Holidays

Birthdays/Anniversaries

PERSONAL CARE Barber/Beauty Shop

Beer/Liquor/Wine

Other

Tobacco Products

PET CARE

Food/Supplies

Veterinarian/Service (boarding/grooming)

MISCELLANEOUS ATM Fees/Stamps/etc.

Other

ACTUAL

PROJECTED

REMARKS

include school and work lunches

Local=$____Long Distance=$____ Include other dependant care

Both service member/Family SGLI

include room and board Montgomery GI Bill (MGIB) include spectator sports purchase and rental dance, music, self-defense, tutor, etc.

ABC, Package Store, etc.

Recommend $50-$150 Buffer

TOTAL MONTHLY LIVING EXPENSES (70%) $

$

Actual:

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INDEBTEDNESS 20%

CREDITOR

PURPOSE

MONTHLY BALANCE PROJECTED

REMARKS

APR %

PAYMENT

PAYMENT

(Mos Behind, Pd by Allotment, etc.)

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

Advance Pay Over Payments

Automatic Deduction Automatic Deduction

TOTAL

SUMMARY

ACTUAL

NET INCOME (Bottom of Page 2)

SAVINGS & INVESTMENTS (Page 3)

-

LIVING EXPENSES (Page 3)

-

AMOUNT LEFT TO PAY DEBTS

=

TOTAL MONTHLY DEBT PMTS (Page 4) -

SURPLUS OR DEFICIT

=

PROJECTED

DEBT TO INCOME RATIO (Total Monthly Debt Payments ? Net Income x 100 = Debt-to-Income Ratio)

Increase Income

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

ACTION PLAN

proposed options

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.

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SETTING YOUR GOALS (Short & Long Term)

Goal

COST

/ date wanted

= monthly savings

to reach goal

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

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