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
ReplyDeletecell phone $ 100
laptop $ 340
ipod $ 135
Total $ 575
Liabilities
cell phone $ 100
Net worth
575-100
=475
Monthly income $ 0
Expences
clothes $ 100
Internet $ 50
school stuff $ 100
Total $ 250
cash flow
4 250
want to get a good job to get good money
One of my assets is a laptop too. I didn't realize how valuable they've become since nowadays they're so expensive! Glad I have one.
Deleteu will find a job soon
Deleteyeah laptops cost a lot
DeleteHi everyone! So here's a list of my assets and liabilities:
ReplyDeleteASSETS:
-Laptop...$400
-GoPro Camera...$350
-Black Hills Gold Earrings...$50
-Cash...$75
-Inheritance Money (Savings Account)...$3000
LIABILITIES:
-Trip Money (borrowed from parents)...$250
So, my net worth is my liabilities subtracted from my assets, which would be $3875 (assets) - $250 (liabilities), leaving my net worth to equal $3625.
Also, here is what my cash flow position is:
MONTHLY INCOME:
-Salary: $600
-Chores: $80
MONTHLY EXPENSE:
-Food: $40
-Clothes/Miscellaneous: $40
I have a positive cash flow because my income is greater than my expense, and also I frankly don't like spending money. I'm saving money for my French trip payments in the fall as well so that's the reason why I have a lot of money I don't spend. I could increase my cash flow by cutting down my spending on Clothes/Miscellaneous because I value getting food more than random "stuff".
Thanks guys!
I feel the same way you do about spending. I generally don't spend a lot of money and my "miscellaneous" category is not huge but I could definitely cut back.
DeleteI don't like spending a lot of money either, I prefer to save my money. I could spend less of my savings by not eating out as often.
DeleteI also think that I should cut down on my random spending. I don't make many necessary purchases, so I should really eliminate excess spending.
DeleteThis comment has been removed by the author.
ReplyDeleteAssets:
ReplyDeleteiPhone 4: $75
Jewelry: $2200
Savings: $7000
Liabilities:
Unpaid money to parents: $100
$9275 - $100 = $9175
I have a net worth of $9175.
Monthly income:
Job: $1300
Work for neighbors: $50
Monthly expenses:
Gas: $110
Food: $40
Other: $40
$1350 - $190 = $1160
I currently have a positive cash flow. I could increase my cash flow by picking up a few more hours at work, and cutting back on eating out and driving. I don't think I could cut back on much more as I am careful with how I spend my money as it is. I also do not think I could pick up many more hours at work because of other things going on in my life.
I also have a positive cash flow. I could also increase my hours to make more money but I also like having my free time.
DeleteI see your dilemma with getting more hours at work. We should probably save more money since we don't want crippling student loans, but at the same time we need to spend time doing the things we like to do like spending time with friends, family, and time for hobbies, sports, etc.
DeleteAssets:
ReplyDeleteiPhone5: $200
Truck: $8,000
Savings: $10,000
Snowmobile: $2,500
Liabilities:
Snowmobile payment: $1,000
$20,700 - $1,000 = $19,700
I have a net worth of $19,700.
Monthly income:
Job: $2,000
Monthly expenses:
Gas: $300
Food: $50
Other: $200
$2,000 - $550 = $1,450
I have a positive cash flow because I am making more money than I am spending. To increase my cash flow I could spend less money on food by eating out less often. I currently work full-time so picking up extra hours isn’t an ideal option because I would still like to spend time with my friends and family.
ur job is pay good and im looking for full time job too
DeleteAsset
ReplyDeleteiphone 5 : $200
computer : $850
capmera:$800
Liabilities:
cell phone: $70
1850-70=1780
Monthly income"
job: $400-$500
Monthly expenses
food: $50
Other: $100
450-150=300
i work one week a day. still looking for jobs.
Its unfortunate that you only work one day a week, but that's ok, because at least you work. It's some income. You're just going to school now to focus on your education.
Deleteyou'll find a job, look in all fields of work
Deletethat is not bad at least you have a job
DeleteAssets:
ReplyDelete-Chromebook $270
-Android Cellphone $350
-Savings Account $2250
Liabilities:
-Money owed to parents (for back to school clothes) $75
Net Worth: 2870-75= $2795
Monthly Income:
Job: $700
Babysitting: $50
Monthly Expenses:
Gas:$80
Food: $40
Other: $20
$750-$140= $610
I would have to say that gas and food are excessive expenses that lower my cash flow. I could carpool with friends from place to place, and I should stop going out to eat as much as I do. Another way to increase cash flow would be to increase the number of hours I work at my job, and I could offer to help out around the house to get money for chores.
I'm in the same situation as you as far as spending money because it seems like one of the most expensive things I pay for is gas!
DeleteI am also in the situtation where it seems like I waste all my money on gas. I do agree on carpooling with friends place to place!
DeleteAssets:
ReplyDelete-jewelry-$850
-savings-$3000
-iphone 4s-$200
-401k-$60000
TOTAL:$64050
Liabilities:
-truck loans-$12000
-credit card-$350
TOTAL: $12350
64050-12350=51700
monthly income:
-$2468 (job)
TOTAL:$2468
monthly expenses
-food-$800
-clothes-$100
-gas-$200
TOTAL:$1100
2468-1100=1368
I have a positive cash flow because I make more money than I spend. The most expensive thing I pay for is the car, so once I pay that off, I can increase my cash flow even more. Gas is also really expensive. I can also save money by not spending so much on clothes and my credit card.
Hello friends! When calculating my net worth and cash flow, I realized 2 things: A) being a teenager sucks, and B) it only gets worse from here! :-) On
ReplyDeletea more serious note, here is how I calculated my net worth:
Assets:
-Laptop ($700)
-Peridot and Gold Earrings ($300)
-Sleep Number Bed ($500)
-Savings Ac
count Balance ($1, 500)
-Debit Card Balance ($150)
Liabilities:
-Car Loan ($5, 200 per month)
-Phone ($600)
Net Worth: -$2, 650
Here's how I calculate
d my cash flow:
Income:
-Paycheck from Solimar: $500 per month
Expenses:
-Gas: $160 per month
- Car Loan Payment: $300 per month
-Phone Payment: $30 per month
-Other Expenses: $100 per month
Cash Flow
: -$90 per month
In order to switch my cash flow from negative to positive in a short term standpoint, I could get another job or get more hours at the
job I have right now. Over the course of the next few years, paying off my car and phone fully will help both my net worth and cash flow because as of ri
ght now, my only liabilities are my car and phone, so paying those off will increase my net worth substantially and it will also increase my cash flow. I can't wait to see what you guys are worth. Have an awesome weekend and see you on Monday!!!
Assetts
ReplyDeleteCar-1000
Laptop-300
Phone-100
Jewelry-500
$300-Spare money
Total-2100
Income
250 every other week
Liabilities
Insurance-30 per month
Car payments-20 per month
Total-50
Expenses
Gas-20 a week
Food-20 a week
Phone bill-40 a month
Total-80
250 (income) - 80 (expenses) = 170
From all my expenses and liabilities I still have a positive cash flow of $120. That seems sorta right cause I always have money in my account and it does keep adding up.
Assets:
ReplyDeleteTruck-4000
Iphone 4 -75
dirtbike- 400
snowmobile-2500
savings- 2000
Liabilities
dirtbike payment-200
Net worth
6975-200= 6,775
Income
around $250 a week
expenses
food- 15 a week
250(4)- 15(4)= 800
i have a positive cash flow of $800 dollars a month because i save more than i spend.
I dont always have as much positive flow because my work hours are different every week but it is always positive
Assets:
ReplyDelete-Laptop $800
-Phone $100
-Savings $2,000
-Jewelry $100
Liabilities:
-Money owed to parents $100
Net Worth: $2,900
Income:
-Chores & monthly allowance: $300
-Here and there pick up jobs: $50
Expenses:
-Gas $80
-Food $40
-Other $20
Cash Flow: $210
I currently have a positive cash flow, but it is towards the lower end. To raise it I should get a job. To get a job means taking up more time in my summers and school life that is already taken up by family outings and dance. With having no job I could cut back on food and other expenses, but I personally think I already do a careful job on that.
My cash flow is also towards the lower end, so I think I'm going to get a job to build that up as well. I didn't have any liabilities, but our net worth values were fairly similar.
DeleteAssets:
ReplyDeletePurse-$850
Laptop-$500
iPad-$600
Jewlery-$300
Liabilities:
None
Networth-$2,250
Income-$680/month
Expenses:
Food-$20
Misc-$60
Cash flow: $600
I have a positive cash flow, and I hope to keep it that way. I need to maintain it so I can save money for school and possibly even a car. Since all the schools I am looking at are really expensive, and I want to also attend graduate school I need to save money now so I can minimize my debt from student loans.
This comment has been removed by the author.
ReplyDeleteAssets:
ReplyDeleteSavings account: $1,900
Ipad: $300
Nook: $150
Jewelry: $200
Liabilities:
none
Net worth: $2,550
Income: $250/month
Expenses:
Phone: $20
Dance: $90
Food: $20
Other: $10
Cash flow: $110
I have a positive cash flow and I think that if I continue living the way I currently do, I can keep it that way. I would actually like to increase my cash flow by getting another job to give myself some spending money as I put most of my leftover earnings into savings.
Short Happy New Year Messages
ReplyDelete