2022 AFBA Financial Planning Guide

8-8. FAMILY BALANCE SHEET (Step 3)

ASSETS

LIABILITIES

Cash on Hand_ _____________________________ $_ ________________ Automobile Loans Checking Account Balances

Vehicle: __________________________________ $_ _________________ Vehicle: __________________________________ $_ _________________ Vehicle: __________________________________ $_ _________________

Account No. ______________________________ $_ ________________ Account No. ______________________________ $_ ________________

Savings Account Balances

Amount Owed On Mortgages

Account No. ______________________________ $_ ________________ Account No. ______________________________ $_ ________________

Personal Residence—1st Mortgage ............. $_ _________________ Personal Residence—2nd Mortgage ............ $_ _________________ Other: _ ___________________________________ $_ _________________

Cash Value of Life Insurance Policies

Policy No. _ _______________________________ $_ ________________ Policy No. _ _______________________________ $_ ________________

Bank Loans

Loan For: _________________________________ $_ _________________ Loan For: _________________________________ $_ _________________ Loan For: _________________________________ $_ _________________

Cash Value of Bonds Owned

Type of Bonds: _ __________________________ $_ ________________ Type of Bonds: _ __________________________ $_ ________________

Finance Company Loans

Cash Value of Stock Owned

Loan For: _________________________________ $_ _________________ Loan For: _________________________________ $_ _________________

Type of Stock: ____________________________ $_ ________________ Type of Stock: ____________________________ $_ ________________

Charge Account Balances Owed

Cash Value of Mutual Funds Owned

Store: ____________________________________ $_ _________________ Store: ____________________________________ $_ _________________ Store: ____________________________________ $_ _________________

Fund: _____________________________________ $_ ________________ Fund: _____________________________________ $_ ________________ Fund: _____________________________________ $_ ________________

Credit Card Balances Owed

Cash Value of Other Liquid Assets

Company: _ _______________________________ $_ _________________ Company: _ _______________________________ $_ _________________ Company: _ _______________________________ $_ _________________

Explain: _ _________________________________ $_ ________________ Explain: _ _________________________________ $_ ________________

Fair Market Value of Real Estate

Insurance Loans

Personal Residence ....................................... $_ ________________ Other: _ ___________________________________ $_ ________________ Other: _ ___________________________________ $_ ________________

Policy: _ __________________________________ $_ _________________ Policy: _ __________________________________ $_ _________________

Taxes Owed

Fair Market Value of Vehicles

Federal Income Tax . ...................................... $_ _________________ State Income Tax ........................................... $_ _________________ Property Tax ................................................... $_ _________________ Other: .............................................................. $_ _________________

Vehicle: __________________________________ $_ ________________ Vehicle: __________________________________ $_ ________________ Vehicle: __________________________________ $_ ________________

Fair Market Value of Other Assets

Other Debts (Explain)

Furniture ......................................................... $_ ________________ Jewelry ........................................................... $_ ________________ Other: _ ___________________________________ $_ ________________ Other: _ ___________________________________ $_ ________________ Other: _ ___________________________________ $_ ________________ Other: _ ___________________________________ $_ ________________ Other: _ ___________________________________ $_ ________________

__________________________________________ $_ _________________ __________________________________________ $_ _________________

TOTAL LIABILITIES: $_ _________________

NET WORTH COMPUTATION

Total Assets (From Column 1) .......................... $_ _________________ Other: _ ___________________________________ $_ ________________ Less: Total Liabilities......................................... $_ _________________

TOTAL ASSETS: $ _ ________________

NET WORTH: $_ _________________

CHAPTER 8: PRINCIPLES OF FINANCIAL PLANNING

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