Evaluate your life and determine your net worth! Give a list of your assets and liabilities (Don't worry if you don't have many of these). Also list your monthly income and expenses so you can calculate your cash flow position. Share your cash flow position and include ways that you could increase your cash flow or switch your cash flow from negative to positive. Make sure to comment on one of your classmates post if you want credit for this post!!!!!!
Assets:
ReplyDeleteTV - $400
Wii - $50
Car - $1000
3DS - $60
PS3 - $50
Laptop - $500
Wacom Drawing Tablet - $30
Savings Account Balance - $4,201
---
Total: $6,291
Liabilities:
Hospital Bill - $196
---
Total: $196
Net worth = 6,291 - 196 = 6,095
Monthly Income: $0
Total: $0
Expenses: Internet $30, Netflix $5, Groceries $60, Junk Food $10
Total: $105
Cash Flow: -$105.
A way to switch my cash flow from negative to positive would be to get a job certainly. Or I can minimize the negative by cutting out Netflix, internet, and junk food. Groceries are important, I have to eat.
Wow that's a lot of money saved up.
DeleteAssets:
ReplyDeleteCell phone:$ 120
Laptop:$ 325
Ipod: $ 100
TOTAL: $ 545
Liabilities:
Cell phone bill: $ 120
TOTAL: $ 120
Net worth: 545-120 = 425
Monthly income : $ 0
Expenses:
Internet : $ 35
Groceries : $ 125
Fast food : $ 200
School stuff : $ 10
TOTAL : $ 370
Cash flow: - 370
If I want to change my cash flow to positive either I want to job or stop eating the fast food in every month. I think I most spend money on the going restaurant and eat fast food. If I reduce that maybe It will be change to positive flow
I am the same, I should get a job and not eat out as much as I do.
DeleteAssets:
ReplyDeleteCompuer/Monitor: $1000
Cell phone: $200
Gaming systems/video games: $300
Cash: $800
TOTAL: $2300
Liabilities: NONE
Total: NONE
Net worth: $2300
Monthly income: $720
Expenses:
Fast food: $50
Video games/MISC: $350
Total: $400
Cash flow = + $320
I don't need to make any changes as of yet because I have no real liabilities or expenses yet and my cash flow is positive.
Looks like you are in a good situation, with both your net worth and cash flow. Nicely done!
DeleteYou have a good net worth for someone our age, congratulations!
DeleteLooks like your in a good situation very good
Deleteyou look like your doing very good jesse
DeleteAssets:
ReplyDeleteLaptop: $2,500
Car: $9,000
Game Systems/Video Games: $350
Cell Phone: $200
Savings Account: $857.19
Collectables: $200
TOTAL: $13,107.19
Liabilities: None
TOTAL: None
My NET WORTH: $13,107.19
Monthly Income: $0
Expenses:
Food: $80
Netflix: $8
Misc: $60
TOTAL: $148
My CASH FLOW: -$148
In order to change my cash flow into a positive, I need to go back to work. I have a job as a roofer that I've been doing so far this summer but it is a full time job and I can't do it while taking these classes. However, I will be going back to it after classes end and will be back in the positive cash flow. Another thing that might help, would be to cut back on the Misc stuff that I purchase.
If we didn't have job it is so hard to make a positive cash flow
DeleteIt is very hard to have a possitive cash flow when yo don't have a job, :(
Deletei am in the same boat as you where i don't have a job. however i have learned to only do close to what you can pay for only. I get 20$/ allowance which is very nice
DeleteAssets:
ReplyDeleteComputer: $500
Car: $6,000
Cell Phone: $150
Total: $6,650
Liabilities: Car
Total: 6,000
My NET WORTH: $6,650
Monthly Income: $0
Expenses:
Cell Phone Bill: $50
Netflix: $8
Food: $60
Total: $118
Cash Flow: $118
In order to improve my cash flow I am starting off by applying for jobs. My parents wanted me to have a car so I can go to places, but I had to agree that I would pay them back. I owe them $6,000 on the car.
Assets:
ReplyDeleteCar: $4500
Car: $15000
Video game systems/games:$1000
Tv: $500
Phone: $200
Tablet: $250
Tools $5000
Motorcycle:$5000
Savings:$ 24,765
Total: $56,215
Liabilities:
Car insurance: $356
My net worth: $56,215- $356=$55,859
Income: $1250
Expenses:
Fast food: $60
Netflix:$8
Video Games:$60
Total:$128
Cash flow: $1122
My cash flow is good and I don't think Ill have a problem for a while but I didn't make all of it on my own.
Wow that's a lot saved up. Looks like you've done good for yourself.
DeleteAssets:
ReplyDeleteCar- $12,000
TV- $700
Laptops- $2,800
Gaming systems-$800
Tablets- $650
Savings account- $2,642.52
Total: $19,592.52
Liabilities:
None
Total: $0
Net Worth:
Assets - Liabilities = Net worth
$19,592.52 - $0 = $19,592.52
Monthly income:(around) $1,280
Expenses:
Food- $250
Insurance- $300
Bills- $200
Misc.- $150
Total- $900
Cash flow: +$380
I don't really need to change anything sense I have a good cash flow. But to make it better I could spend less money or misc. things or get more hours at work.
You spend a good amount of money on food, but you still have a positive cash flow so that's good!
DeleteASSETS:
ReplyDeletecar $17,000
laptop $800
xbox one $500
TOTAL - $18,300
LIABILITIES:
none
TOTAL - $0
NET WORTH = $18,300
MONTHLY INCOME = $1,000
EXPENSES:
gas $100
food $50
gym $30
TOTAL - $180
CASH FLOW = $+820
My cash flow as of right now is positive. Now that I moved back in with my parents I don't have to pay rent so that helps out. What I could do to help out is maybe not eat out as much as I do.
Is great when you do not have pay rent for a place, helps you a lot.
DeleteLiving rent free certainly does help in saving money.
DeleteASSETS:
ReplyDeleteSavings Account $5,000
Gold * Jewelry* $5,000
Lop Top $1,500
TOTAL: $16,500
LIABILITIES. NONE
TOTAL: $0
NET WORTH $16,500
EXPENSES:
GROCERY BILL $200,00 a Weak
Gym $32,00 a month
Cell Phone Bill $85,00 a month
Rent $800 a month
Other monthly Expenses not listed above $500,00 a month
Total Expenses $ 2,450
INCOME $3,500 a Month
CASH FLOW $1,050
I have good cash flow because the good think is I don't have to pay any bill like a
Electricity, Car , Medical bills.
I don't have to pay for those bills either, which is nice because it saves me lots of money.
DeleteAssets:
ReplyDeleteCell phone: $50
Tv: $700
Laptop: $300
Used car: about $4,500
Total: $5,550
Liabilities: None
Total: 0
Net Worth: $5,550
Monthly Income: $764
Expenses:
Gas: $100
Food: $60
Misc: $70
Total: $230
Cash Flow: $534
I'm satisfied with my current cash flow, but obviously I would love to increase it. I think the best way to increase my cash flow would be to stop spending money on food and other things I don't actually need to spend money on.
Great choices...I am glad you know where your priorities are! Great job by the way with cash flow.
DeleteIt seems like your cash flow is just fine! Im in the same boat! I just want to increase my cash flow but im not complaining about where its at right now.
ReplyDeleteAssets:
ReplyDeleteCellphone: 50$
Magic the Gathering cards: 200$
Car: 4000$
Bike: 300$
Savings: 150$
Total: 4700$
Liabilities: None
Net Worth: 4700$
Monthly Income: 20$
Expenses:
MTG tournaments: 20-30$
Cash Flow: 0/-10$
I am currently looking for a job so I can do things that I want to do as well as pay for gas and whatnot. I obviously could stop doing magic tournaments to save a little bit of money but then i wouldn't have anything to look forward to in any given week.
I had no idea cards were worth so much thats awesome. Apply for the new Eagan mall they are all still hiring.
DeleteAssets:
ReplyDelete2 Tv's: $350
cellphone: $75
computer: $200
used vehicle: roughly $2000
Total = $2625
Liabilities: Don't have any
Net Worth = $2625
Monthly income = Varies, but as of now $200
Expenses =
Food: $40
Gas: $45
Total = $85
Cash Flow = $115
Right now I dont have to pay for bills because i'm "in school" but that will all change pretty soon here. I'm not really thrilled about my current cash flow but like I said it varies because of school. When i'm in school I work less so I make less. But i get by just fine. When I get this new job in Savage from my Aunt I will be making $15-25 an hour and that will increase my cash flow/net worth dramatically! I also dont spend much of money on anything other than gas and junk food.
Assets
ReplyDeletebed $500
computer $300
Miscellaneous 1500
Total 2,300
Liability
$60 Library card
$114 school Books college
Total 174
Net worth
2,126
Monthly Income: $500
Expenses
Bills: $105
Misc:$200
Gas: $70
send $ home:$150
Total: $525
Cash flow: -25
i can eat less outside, and don't spend much on miscellaneous things. Also get a better phone billing company.
Assets:
ReplyDeletecomputer-200$
cellphone-350$
savings- 1,500$
jewelry- 1,700$
bike- 250$
Net Worth: 4,000
Monthly income- 850$
Grocerys-200$
phone bill- 30$
misc.- 100$
gas- 50$
Cash flow- 470$
I could stop paying for other peoples gas and save up for a new car.
Assets:
ReplyDeleteLaptop- $300
cellphone- $400
savings- $2000
clothes- $5000
game systems- $1500
2 bikes- $300
bed- $800
Net Worth:
$10,300
Expenses:
food- $80
shopping- $50
music- $2
Cash flow: -132
I could get a job, I could do chores and get paid and I could stop eating out as much and shop less.
Assets:
ReplyDeleteCar:2000$
Iphone:400$
Clothes:1500$
TV:400$
Net Worth: 4400$
Income: 2000$/month
Expenses:
Phone:95$
Car Insurance:200$
Gas:150$
Food:50$
Entertainment:200$
Positive Cash Flow: 500$/month
I could increase my cash flow by doing less spending and getting smarter about investing money in different places so I could let it grow in different ways.