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How I Use the Cash Flow Planning Sheet from Financial Peace University

As many of you know I’ve been easing into creating YouTube videos on our channel throughout the last few months. I still have a long way to go skill wise, but I must admit I really enjoy making them. So today I have something new for you – a combined YouTube video and transcript. If you’re the reading type, a transcript of the video is below, but if you’d prefer to just watch and listen you can do that too – the YouTube video is at the bottom of this post. 🙂
I’d love to hear what you think – send me a note or comment and let me know if you’d like to see this kind of post in the future!
Transcript – Part One:
Welcome back to the Wife.Mother.Teacher channel. Today I’m going to be showing you how we use the monthly cash flow plan form to fill out our monthly finances. This form is actually part of Dave Ramsey’s program and so if I flip, this is his book from his Financial Peace University class, which is wonderful. If you have ever wanted to learn more about finances to get your finances in check, I cannot recommend this enough. I do think though that the document is also available in his book Total Money Makeover so I will link both of those below so you can find both of those on your own.
Basically what I do is I take that form – I take it to the printer and I have it printed on large (this is 11.5”x17” paper). I like to have everything on one page, which is why I have chosen this paper size. I kind of want to show you how I fill out the form and use it, which is slightly different than his recommended procedure. I should say just as a disclaimer up-front, I’m just an ordinary person. I’m not an expert. This is just how I have found his documents to be extremely helpful.
So to give you an example, this is going to look different than his recommended way. This is our form filled out from last month. This would be from May. So the first thing that I do that is not from his recommended list is up at the top, I keep track of items that we are going to need to spend money on either this month or in the future. So for example, I knew that in May we were having our lawnmower serviced so I needed to remember to include that. And I needed to buy monthly heartworm for my dogs. So those are two expenses that I just wanted to remember, so I wrote them up here.
I’ve also decided that for our health insurance in 2016, I would like to plan ahead and have saved our deductible ahead of time. So, I am just including that in here as something to remember. So every single month I am going to write this note over again until we get to 2016. So that’s the first thing that I do that’s been really helpful.
The other thing that I do is I go through and if I have bills that are due on a certain date (which let’s face it, most bills are), I go ahead and put in here the date of when they’re due. And I find this to be really helpful when I go in and I fill out the next form, which I’ll talk about in another video, but that’s what these numbers represent. So our auto insurance is due on the 7th of the month. We have two separate life insurance. Those are due on the 24th and the 28th. So it just kind of gives you an idea of one thing that you can do.
Another thing we do that is different than Dave’s recommended plan is I fill out boxes to represent areas that I would like to spend money in, or plan to spend money in, or that I need to spend money in, but I’m not yet sure how much exactly I’m going to spend. So for example, in May, we were wanting to spend some money on clothing. Now the fact that these boxes are empty tells me that we did not actually end up doing that. But it just kind of lets me have a quick visual of where money needs to be spent if I do have some extra money in a given month.
That also would come up for things like birthdays. We had a birthday party and a baby shower to attend. I wasn’t exactly sure how much I was going to spend. I knew where I wanted as a ballpark, but if I could save money with coupons and things, I would. So then I would’ve needed less. So for now, I just have it as a box. Just keep in mind, that is different than what Dave recommends.
The other thing is I actually never fill out my spent column on this form. I found that doing the two column, although it completely makes sense with his system – I’m not saying it doesn’t make sense – it just doesn’t end up working out quite that way for us and for the way that we use this. I end up keeping track of this spent on the other document, which again, I’ll do in a future video. And when I’ve done that video, I’ll link it below this one.
So that then means that at the end, I don’t fill out the bottom line. But I should say we used to. For the first six months that we did the Dave Ramsey program, we did fill this out exactly like he recommends. And it works great, it really does. This is just a way that we’ve kind of streamlined it. And I know that Dave is pretty firm with his system and he’s firm because it works. So don’t feel like you have to do it my way. These are just some of the things we found that works.
So another thing that we do that’s a little bit different is if we have a bill due twice in one month – so for example, this is one of my student loan bills – it is due on the second of the month. The way that my husband’s and my pay periods work out is that the second fell within this month’s paychecks twice. So this bill is due on the second and each time that I pay it, I have to pay $103.34, but because it fell in this month twice, I then had to put the total amount. So this would be both of those bills together. So that would be the one other major change that I made to this document.
So with May being all filled out and we are now ready to create our June budget, what I would do is take my fresh, brand new document and the first thing that I do is I go through and I fill out all of those dates that bills are due. So along the side here, I would fill out all of those numbers that I had up here. And then any bills that are the same every month – so my student loans, those are the same every month – I would go in and fill out how much that would be that month. Keeping in mind again, just like before, if during the pay periods, the way that the pay periods fall, if one of these bills would be due twice then I would make a special note of that here in the margins. And that happens periodically. It just depends on the month and how the pay periods fall.
The other thing that I would then do right away is I would see if there was anything weird about the month of June. So for example, if there are any gifts that we needed. Or for me, I’m a teacher, so I don’t have to pay for childcare in the summer. So my childcare is going to change. So those kinds of things, I go through and I mark and I fill out. So I’m going to go ahead and do that now and then we’ll pick back up with Part Two.
Transcript – Part Two:
So here is Part Two. I went ahead and I filled out my June monthly cashflow plan. First by copying down from May all the things that stay the same, which are the majority of these. Then I went through and I looked at our calendar to figure out if there were any bills that were going to be due twice, like this one on the second. And then I filled those in. And then I know that we have another baby shower and another birthday party that I need to budget for. We need haircuts, so that’s going to go in here. My dog needs to go into the vet. My birthday is in July, so I know that I’m going to have to pay for my new license plates. Then, I need to get some adult clothing this month and we are saving money towards our trip for Germany.
So those boxes – what I’m going to have to do now is figure those out once I’ve actually done the other document. So to give you kind of a heads up on that and what that’s going to look like, if we go back to the same Financial Peace University book and we go to the back of the book where the forms are. We’re just doing the monthly cash flow plan. So next time, we’re going to go through the allocated spending plan. And this is a two-part document. It is wonderful. It really breaks things down as detailed as you could possibly want. So this will be our next video.
So stay tuned for that. In the mean time, if you will please hit ‘like’, ‘subscribe, stay tuned for more videos especially meant for busy working moms. And remember busy working moms, you are amazing! Keep up the great work.

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