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Business Plan Workshop Homework

Listen to the audio & complete your homework below!

A huge part of the reason we hope you’ve enrolled in the small business plan building workshop is to be able to live a better life.  Part of that includes improving your material comforts and being able to provide a better life for your family.  Please do NOT make the mistake of showing-up with a plan to live the same life you are currently living, unless you are happy with all the material things in your life.  Instead please invest some time to:

A. Figure out how much it cost to live the way you are currently living; and

B. Figure out how you want to be living 24 months from now (what house, what car, what school, what kind of vacations, etc).:  and then

C.  Figure out how much it will cost to live the way you want to be living.

Sample personal household budget to help you plan this out…

HOME

  • Mortgage/Rent
  • Utilities
  • Telephone/Cell
  • Domestic Services
  • Maintenance
  • Groceries
  • Other

TRANSPORTATION

  • Car 1 Payment/Lease
  • Car 2 payment/Lease
  • Car 3 Payment/Lease
  • Car 4 Payment/Lease
  • Car Maintenance
  • Other (ex: train, tolls, etc.)

ENTERTAINMENT

  • Restaurants
  • Theater/Sporting events/etc.
  • Hobbies
  • Social Clubs
  • Dues/Subscriptions
  • Toys (ex: boat, motorcycle, etc.)

EDUCATION

  • Adult personal development
  • Child 1 529 plan/current tuition
  • Child 2 529 plan/current tuition
  • Child 3 529 plan/current tuition
  • Child 4 529 plan/current tuition
  • Other
    Note: Professional education will be a business expense

INSURANCE

  • Health
  • Life
  • Disability
  • Auto
  • Home
  • Boat
  • Other

DEBT SERVICE

  • Credit Card 1
  • Credit Card 2
  • Credit Card 3
  • Student Loans
  • Personal lines of credit
  • Alimony
  • Child support
  • Other

SAVINGS/RETIREMENT

  • Account 1
  • Account 2
  • Account 3
  • Other

PHILANTHROPIC

  • Philanthropy 1
  • Philanthropy 2
  • Philanthropy 3
  • Other