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

April 13, 2010

Cash Breakdown March ’10

Filed under: Excel fun, Real Example — Tags: , , , — thebalancedspreadsheet @ 12:00 pm

With things changing around our household, I thought it would be good time to update our breakdown of our cash and see where we stand before we go down to one income.

Emergency FundStaying pat at $10,000.  This number still represents about 5 months worth of expenses and is an amount that we feel comfortable with.  It is great to know that we have ten grand in the bank in case of medical emergency or job loss. 

Insurance Accrual-This currently includes 10 months our life insurance accrual as well as 4 months worth of Car Insurance.  Since we pay our car insurance semi-annually (June and December) and the our 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 12 for the accrual.

IRA Funding-About $400 is marked for my wife’s IRA funding.   

Car/Vacation-Nice to see almost $12,000 in our car/vacation fund.  We will be going on vacation in May and we already have our flight and hotel booked and paid for so the only other expenses on the trip will be car rental and eating out.  The Financial Counselor training that I will be doing later on in April is paid for as well as the flight down to Nashville.  We will be dipping out of this account however for my wife’s college that she will be finishing up in the summer as well as her home business.  My goal when all the vacations, college, and all start up business expenses are paid is to have about $8,000 left for the car fund.

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1 Comment »

  1. How many clients do you have lined up?

    Comment by steve — April 15, 2010 @ 8:03 am


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