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Calcula te Wha t You Need to Become F inancially F r e e

Downloadable Exhibit 5.1 Your Personal Monthly Financial Statement *

Fixed Expenses

Income tax $ __________________________

Home loan(s) $ __________________________

Car loan(s) $ __________________________

Personal loan(s) $ __________________________

Credit card(s) minimums $ __________________________

Property taxes $ __________________________

Insurances $ __________________________

Retirement contributions $ __________________________

Automatic Investment Plan $ __________________________

Debt reduction $ __________________________

Miscellaneous $ __________________________

Total $ __________________________

Variable Expenses

Food $ __________________________

Transportation $ __________________________

Clothing/personal care $ __________________________

Entertainment/holiday $ __________________________

Medical/dental $ __________________________

Utilities $ __________________________

Charitable giving $ __________________________

Miscellaneous $ __________________________

Total $ __________________________

Total Expenses $ __________________________

Now that you’ve added up your expenses, look at your current monthly income:
Income

Gross salary/wage $ __________________________

Interest/dividends $ __________________________

Commissions $ __________________________

Net rental income $ __________________________

Miscellaneous $ __________________________

Total $ __________________________

How much income will you need to meet your expenses? Write down that number
now.

Monthly income required ______________________

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