Step 2 (Where does your money go?)

This lesson discusses cash flow, income, and expenses. There are worksheets on which to write critical information about your income, what you owe (your credit use), and types of expenses (fixed, regular flexible, and occasional) so that you have a better picture of your current financial standing.

Do you know where your money goes? You may say, "House payments, car loan, utility bills, and food." But after that, things begin to get a bit fuzzy. You are not sure where the rest of it goes. Right?

Now that you have set your goals in step 1, the next step is to learn where your money is being spent. Your own personalized plan will be built on your goals and spending patterns in step 5. No matter how you feel about paperwork, it MUST be done. Spending information is essential for making financial decisions.

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What Do You Owe?
The Bottom Line
What is Cash Flow?
Action Steps for Lesson 2
Home Account Book