Overview: Section 1, 2, & 3

I encourage you to work with friends for a resource.I believe that two+ minds are always better than one!You still need to hand in your own assignment individually however, as each section specifically pertains to your personal net worth, your personal cash flow and your personal goals.

Section 1: NET WORTH

Create your personal Net Worth statement.Gather as much information as you can about your personal net worth and create your own net worth statement.Once created, determine three things that you can do in order to increase your net worth and list them: 1, 2, 3.

Section 2: GOALS

Analyze your goals.Write down 4 goals that you have and provide the detailed steps in order to achieve each one.The steps should all pass the S.M.A.R.T test.Additionally, any goal that is numerical in nature, utilize time value of money to calculate your goal – listing out the values for PV, FV, PMT, I/YR and N showing how you arrived at your conclusion.Remember most goals have a financial aspect to them whether you see it right away or not!

Section 3: CASH FLOW

Analyze your Cash Flow.Create a chart that will compare what you expected to spend in WEEK 2 of this course with what you actually spent in WEEK 2.Once you have the two, see where you have gaps.(An ideal format would be in excel, a column for expected, a column for actual and then a column that identifies the difference between the two). Answer the following questions: 1) Were you over or under your expectations?2) How far off were you?3) What was the expense that surprised you the most? 4) Once completed, develop a list of 50 questions to ask yourself about your cash flow.Yes, FIFTY questions.When you are done with the 50 question list, review the list and select THREE of your top questions.List the top three questions you have selected on a separate sheet of paper.Under each question: answer it.Then ask a) WHY? And answer it, then b) WHY? And answer it, then c) WHY? Then answer it…. Ask yourself “WHY” to that first question at LEAST three times (ideally 5 times) to find the route of your answer – sometimes it will surprise you!

MATERIALS & FORMAT

Utilize any material you wish to create the above… excel, online search results for statements, the files section of canvas, anything… (but MUST BE TYPED).Format – it is ok to provide it in list format, bullet points, numbered items.Format is open for creativity! With the questions… think who? What? When? Why? How? How much? Is? What if? Why not?

WHAT I EXPECT TO RECEIVE:

• A net worth statement with three items listed that will help you increase your net worth
• A breakdown of all the steps you need to take in order to achieve your 4 goals (utilizing time value of money wherever necessary)
• A cash flow statement that compares/contrasts the expected/actual expenses the second week of this course along with answering the three questions about your expenses
• A list of 50 questions to ask yourself about your cash flow (you do not need to answer them)
• A list of the top 3 questions, with answers and subsequent 3-5 “why” questions following each one