1. Session Two A Financial Physical
Living Wi$ely
Session Two
A Financial Physical

2. Questions
If your financial situation were perfect what would be different ?
Should it be a Christian goal to get out of debt ?

3. Homework Review Questions about part two of Three Simple Rules
Questions about the addendum

4. Personal Financial Goals
Examples of Specific, Measurable, Achievable Goals
Having savings
Able to give more
Not living paycheck to paycheck
Having reliable transportation
Getting out of debt
Able to have a family vacation
No calls from creditors
Able to send children to college
Having retirement savings

5. Financial Physical Two Parts Personal financial statement or
net worth statement
Current income and expenses or
cash flow statement

6. Personal Financial Statement
Assets: things you own
Cash
Savings
Investments
Pension or retirement plans
Other assets
Total these 6

7. Personal Financial Statement
Liabilities: debts you owe
Houses, cars, furniture, etc.
Credit cards
Debts to friends and relatives
Educational loans
Medical expenses
Bank loans
Other debt
Total these 7

8. Personal Financial Statement
Assets
– Liabilities
= Net Worth

9. Current Income and Expenses
Record your monthly income
Salaries
Interest and dividends
Other income

10. Current Income and Expenses
Monthly spending totals
Giving
Saving
Debt
Housing
Transportation
Household / personal
Entertainment
Professional services
Miscellaneous / small cash 10

11. Current Income and Expenses
Total Income
– Total Expenses
= Surplus or Deficit

12. Homework List at least three personal financial goals
Complete the two forms
Read Three Simple Rules
Part 3 Diagnosis and Prescription