The Balanced Spreadsheet-Financial News, Budget Advice, Debt help, Financial Tips, and other advice

February 8, 2010

Cash Breakdown January 2010

Filed under: Excel fun, Personal Finance, Real Example — Tags: , — thebalancedspreadsheet @ 7:20 pm

Sorry for not making any posts in a week but I have not had time to do any posts due to being busy at work this week as well as being out of town this past weekend.  I thought I would just post a cash update that I try and do every two months or so.  Normal posts will resume this week as I have been reading some good business/financial books that I want to review in addition to having some other goodies.  

 Cash Breakdown Jan '10

Emergency Fund-No changes here with the amount staying at the same at $10,000.  It is great to know that we have ten grand in the bank in case of medical emergency or job loss.  Currently there is no discussion to increase or decrease this amount.

Working Funds-With January being the first month of the quarter I have two months in the “Working Funds” category to cover the $1,667 that is taken out of my paycheck each month to participate in my Employers Stock purchase program.  Each month this drops by $1,667 until the end of the quarter when it goes to zero, but goes back to $5,000 at the beginning of the quarter.

Insurance Accrual-This currently includes 8 months of our life insurance accrual as well as 2 months worth of Car Insurance.  Since we pay our car insurance semi-annually (June and December) and the life insurance annually (June), I need to “accrue” monthly the cash needed to pay the bill when it is due instead of having to come up with the full amount on the month it is due.  I simply just take premium due and divide by the number of months in the payment period for my accrual.

IRA Funding-No IRA funding accrued.  I think we are done with this for now as we have caught up on all of my wife’s IRA funding for 2009 and her 2010 funding is funded in the same month as the pay check.

Car/Vacation-The remainder of the cash balance goes in this fund.  The balanced did not increase much since November but that is mostly due to Christmas in December.  Good to see this fund almost hitting over $11,000 but it probably will not be there for much longer.  We are planning on taking our one year anniversary trip in May at a yet to be determined location.  I am also planning on going to a training seminar to learn how to become a financial counselor in April which I will discuss more in detail soon.  Some of this should be offset by a 2009 bonus from my employer, but how much is yet to be determined.  With all that being said, there are no plans to purchase a new car but it is nice to have the money in the bank just in case.


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