Personal Financial Plan Calculator
7
. Will I have enough money to meet my goals?
Enter the information from your estimates in the blanks below.
In the year after I leave high school:
Income
from D
$ )
Expenses
from E
$ )
Difference
$
F
If the difference is a positive number, you can add it to your savings.
Additional savings I can add to my assets
from F (if positive)
$
G
If the difference is a negative number, you have a few options.
1) Cut back! Reduce your expenses and adjust Step 6.
2) Push on! Work more to earn more money and adjust Step 5.
3) Use your resources! Try the funding strategies in Step 8.
8
. What can I do to get the extra money I need?
You have resources.
You can raise the funds you need with these strategies:
For advice, check out the Achieve BC website and the WorkInfoNET Youth website.
Use the assets I listed in Step 4: amount
Ask family for support $
Use my scholarships and bursaries
$
Use my student loan
$
Use my savings
$
Use my RESP and other investments
$
Apply for additional government scholarships/bursaries
$
Apply for additional community/other scholarships/bursaries
$
Apply for additional student loans
$
Apply for a bank loan or line of credit $
Earn additional income in part-time or full-time employment
$
Earn income from self-employment $
Apply for a co-operative work arrangement $
Apply for an apprenticeship program $
Apply for sponsorship $
Apply to a military program $
Total
$
You can use the assets to cover the difference (Box F) above.
If the resources you can use are greater than your expenses, decide which you’ll use first.
Tip
Tip
Handout 14-1 (continued)
My FInancIal Plan
Page 6/10
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Personal Financial Plan Calculator PDF
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