FAX / FOR COACHING APPOINTMENT

Transcription

1 Kensington Community Church 1825 East Square Lake Rd Troy, MI Phone Fax FAX / FOR COACHING APPOINTMENT To: Dave Smith From: Fax: Pages: Phone: Date: Re: Financial Coaching Pre-Work Forms CC: Urgent For Review Please Comment Please Reply Please Recycle Comments: Thank you for allowing Kensington to assist you in this area. Wherever you find yourself financially, we want you to know God has a plan for you and your finances. In our busy culture, it requires we listen for God s guidance and pursue Him as He pursues us. Prayer is one of the most powerful first steps you can take to move forward in this area. Using James 1:5 as the model, pray for guidance, strength, clarity, stamina, wisdom. God wants to hear from you and is waiting for you. Please take a moment before you begin to complete this information please consider the scripture on the following page. It is within this framework that we will come along side of you.

2 Financial Compass Building a Foundation of Biblical Principles God s Ownership we have been entrusted with what we have to manage effectively. The earth is the Lord s, and all it contains, the world, and those who dwell. Psalms 24:1 Saving Money saving money as a priority for emergencies, purchases, and long-term goals. In the house of the wise are stores of choice food and oil, but a foolish man devours all he has. Proverbs 21:20 Living on Less than you Make learning to be content with what we have and developing a power over purchase. Godliness actually is a means of great gain, when accompanied by contentment. Timothy 6:6-10 Life after Debt having a plan to attack the debt systematically. The rich rules over the poor, and the borrower is slave to the lender. Proverbs 22:7 Agreed On Purpose Cash Flow Plan - Having an on purpose cash flow plan agreed on with spouse, if married, or accountability friend, if not. For which of you, intending to build a tower, does not sit down first and count the cost, whether he has enough to finish it (29) lest, after he has laid the foundation, and is not able to finish, all who see it begin to mock him, (30) saying, This man began to build and was not able to finish. Luke 14:28-30 Four Walls putting four walls around our basic living expenses first before attacking the debt snowball is a priority. (shelter, food, clothing, transportation) If anyone does not provide for his relatives, and especially for his immediate family, he has denied the faith and is worse than an unbeliever. 1 Timothy 5:8 Giving controlling our money so that we can tithe to our church/charitable organization.! I fast twice a week and give a tenth of all I get. Luke 18:12

3 INSTRUCTIONS FOR PRELIMINARY WORK Please fill out the following pages to the best of your ability: *MONTHLY INCOME SOURCES List all regular net income sources List all irregular net income sources (i.e. commissions, bonuses, etc.) Tax refunds/ Rents Self-Employment income ( you only need to fill out form above total income line) *CONSUMER EQUITY List all assets List estimated market value as well as payoff of secured debt List unsecured debt *BASIC BUDGET Add categories when necessary Remember non-monthly annual lump sum totals *DEBT SNOWBALL List ALL debt smallest amount to largest List minimum payment due Things you need to be prepared to discuss: --Two years of tax returns. --A list of all insurances (including, but not limited to, health, life disability, car, homeowner, etc.). For each item in this list, include current deductible and all possible deductibles. --A thorough list of all financial assets (including, but not limited to, savings, 401k s, IRA s, CD s, etc.). --If you own your own business (as a sole proprietorship), include all relevant company documents (including company P & L statements). MOST IMPORTANTLY - A LIST OF ALL PERTINENT QUESTIONS THAT YOU WOULD LIKE ANSWERED!

4 CLIENT BIO Name (the name you prefer to be called): Age: Place of Work: Type of Work: Personal Interest: Spouses Name (the name he/she prefers): Age: Place of Work: Type of Work: Personal Interest: Children's Names and Ages: Child 1: Child 2: Child 3: Child 4: Child 5: Child 6: Are you a Financial Peace University Member? Completed FPU? Attending FPU? Additional Information:

5 COUNSELING PRIORITY ANALYSIS IDENTIFY THE TOP 3 PRIORITIES, 1 BEING HIGHEST PRIORITY, YOU WISH TO FOCUS ON THROUGH COUNSELING 1. Developing a Money Spending Plan (Budget) Spouse 1 Spouse 2 2. Personal Debt Elimination 3. Establishing An Emergency/Opportunity Savings Fund 4. Estate Planning - Wills & Trusts 5. Retirement Planning/Financial Independence Planning 6. Investment Planning 7. Business Cash Flow - Debt Elimination 8. Other Goals What specific issues would you like to discuss during our meeting? 1) 2) 3) 4) 5) 6) 7) 8)

6 MONTHLY INCOME SOURCES Types of Income Regular Inc. Irregular Inc. Point to red comment triangles for extra help Income 1 Income 2 Income 3 Interest/Rents/Misc. Tax Refund Other Bonuses Self-Employment (Monthly Take Home) (Annual Amounts)

7 CONSUMER EQUITY ITEM / DESCRIBE VALUE - DEBT = EQUITY Real Estate 1 Real Estate 2 Car 1 Car 2 Cash on Hand Checking Account 1 Checking Account 2 Savings Account 1 Savings Account 2 Money Market Account Mutual Funds Retirement Plan 1 Retirement Plan 2 Retirement Plan 3 Retirement Plan 4 Stocks or Bonds Insurance (Cash Value) Household Items Jewelry Antiques Unsecured Debt (Neg.) from Debt Snowball IRS Debt (Neg.) from Debt Snowball TOTAL $ - $ - $ -

8 BASIC BUDGET ITEM GIVING SAVINGS-Emergancy College Savings SmartyPig Electronic Envelopes Other Savings HOUSING-First Mortgage Second Mortgage Third Mortgage Repairs/Upkeep Property Tax Home Owners/Renters Insurance Rent UTILITIES-Electricity Water Gas Phone Cell Phone Trash Cable Internet Groceries Eating Out MISC-Bank/Postage/Subs/Dry C Gifts-All TRANS-First Car Payment/Replacement Second Car Payment/Replacement Gas Repairs, Oil, Tires, etc. Car Tags/Registration, etc. Car Insurance Clothing* Personal Care/Hair Disability Insurance Health Insurance Predicted Expenses **

9 BASIC BUDGET Life Insurance Tuition/School Supplies/Activities/Lunches Entertainment* Vacation Med Co-Pay/RX/Den/Opt Blow Money* Pet Care Other Other Other Other Other TOTAL

10 Debt Snowball Balance Date: 10/1/08 Creditor Information Table Row Creditor Balance Rate Payment Custom Total: - Total: -

11 Mortgage Amortization Schedule Download from Vertex42.com Max loan Term we recommend is 15 Year Fixed Rate Inputs Loan Amount Annual Interest Rate Term of Loan in Years First Payment Date Frequency of Payment Monthly Payment (per period)

12 Insurance Insurance Summary Life Insurance Spouse 1 Spouse 2 Type Of Insurance - Cash Value or Term Amount of Insurance Employer provided insurance / amount Approximate purchase date Annual Premium Homeowners Insurance Do you have guarenteed replacment (Y/N) Current Deductable Annual Premium Carrier Multi Policy Discount (Y/N) Current Deductable Auto Insurance Annual Premium Carrier Multi Policy Discount (Y/N)