Do-It-Yourself FINANCIAL HEALTH CHECK

GENERAL INFO
Your name
Your present age

Name Here

Child 1

Civil status
Age of your spouse/partn

Child 2

Child 3

Child 4

Child 5

Ages of children under 18, if any

No. of years before retirement
Your total life insurance coverage, if any
Your total healthcare coverage, if any

years
-

Partner's life insurance c

Partner's healthcare cov

INCOME & EXPENSE

ASSETS, LIABILITIES &

Your net monthly income

No. of months income
Your partner's net monthly income
No. of months income
Total Monthly Net Income / Cash In

months
months
-

Monthly Household and other expenses

Monthly Savings/Investment
Monthly Loan Payments
Total Monthly Expenses / Cash Out
Monthly Excess Cash

Developed
Developed for
for your
your convenience
convenience by:
by:

ALVIN
ALVIN T.
T. TABAAG,
TABAAG, RFP
RFP

President,
President, Chief
Chief Financial
Financial Advisor
Advisor &
& Author
Author
MoneyWise
MoneyWise Center
Center for
for Financial
Financial Planning
Planning
"Smart
"Smart planning
planning for
for aa secure
secure future"
future"
Mobile
Mobile (+63
(+63 917
917 502-3149),
502-3149), Email:
Email:
alvintabz@yahoo.com
alvintabz@yahoo.com
Follow
Follow in
in Facebook:
Facebook:
www.facebook.com/alvin.tabanag
www.facebook.com/alvin.tabanag

Assets - Real Properties

Assets - Other Propertie
Assets - Savings/Investm
Assets - Insurance cash

Liabilities - Real Estate L

Liabilities - Car, Salary a
Liabilities - Unpaid credit
-

EALTH CHECK

This is a TEST VERSION!

It will DEACTIVATE on 9/30/2016

Civil status
Age of your spouse/partner, if any

Married

Partner's life insurance coverage, if any

Partner's healthcare coverage, if any

ASSETS, LIABILITIES & NET WORTH

Assets - Real Properties
Assets - Other Properties
Assets - Savings/Investments
Assets - Insurance cash/account value
Total Assets

Liabilities - Real Estate Loan

Liabilities - Car, Salary and Other Loans
Liabilities - Unpaid credit card balance

Total Liabilities

Net Worth

FINANCIAL HEALTH CHECK

RESULTS
Emergency Fund
The ideal amount of emergency fund is 3 to 6x your monthly expenses.

Savings Rate
The ideal amount to save monthly is 10-20% of your monthly income.

Debt Load
The debt load indicates the level of burden of your debt payments.
It is calculated as the % of your monthly income that you use to pay off debts.
Debt load
Less than 5%
5% to 15%
15% to 36%
36% to 45%
Over 45%

From

To

Debt Burden

0
0
0
0
0

0
0
0
0
-

Minimal
Light
Moderate
Heavy
Very Heavy

Insurance Coverage

The ideal insurance coverage is 5-10x your annual income.

You
Partner

Generally, the required insurance coverage goes down as one gets older.

Your coverage
Your partner's coverage

Ideal Range
From
To
-

Current
Coverage
-

Shortage
-

Sufficient
Sufficient

You

Healthcare Coverage

Partner

Treating a critical or major illness is expensive and may cost P1 Million or more!

Liquidity
Liquidity measures the proportion of your assets that are in cash or easily convertible to cash.
A low liquidity can pose some problems if you need a large amount of cash.

College Education Fund1

Assumptions:
Current tuition fee
Rate of increase in tuition fee
No. of years in college
Rate of return (before college)
Rate of return (college years)
Available savings/investments
% Allocated to education fund
Amount allocated to education fund

Not Applicable

150,000
5%
4
10%
6%
50%
Child 1

Current age
Years from college
Total required college fund

per year
per year
years
per year

(see calculation below)

per year

Child 2

Child 3

Child 4

Future value of allocation

Gap in college education fund

Required savings - annual

Required savings - monthly

Total required savings - annual

Total required savings - monthly

Current monthly savings/investments

Monthly excess cash

Sufficient!

RETIREMENT FUND 1

Not Applicable

Assumptions:
Years from Retirement
Current monthly expenses
% Retirement expenses
Monthly retirement expenses
Retirement period
Inflation rate
Rate of return (prior to retirement)
Rate of return (during retirement)
Available savings/investments
% Allocated to retirement fund
Amount allocated to retirement fund

80%
15
3%
8%
6%
50%
-

Required retirement fund

Future value of allocation
Gap in retirement fund

Required savings - annual

Required savings - monthly

Current monthly savings/investments

Monthly excess cash

years

(see calculation below)

years
per year
per year
per year

Sufficient!

Education fund and retirement fund calculations were done independent of each other. However, in actual practice, any
change in one financial area will impact other areas. For example, increasing the amount you save for your retirement fund
will reduce the amount you can save for your education fund and vice versa.

This is a TEST VERSION!

It will DEACTIVATE on 9/30/2016

SUMMARY OF RESULTS
Financial Measure

Findings

Emergency Fund
Savings Rate
Debt Load
Your Insurance Coverage
Partner's Insurance Coverage
Your Healthcare Coverage
Partner's Healthcare Coverage
Liquidity
College Education Fund1
Retirement Fund1

Not Applicable
Not Applicable

For
For financial
financial planning
planning questions
questions or
or assistance,
assistance,
contact:
contact:

ALVIN
ALVIN T.
T. TABAAG,
TABAAG, RFP
RFP

President,
President, Chief
Chief Financial
Financial Advisor
Advisor &
& Author
Author
MoneyWise
MoneyWise Center
Center for
for Financial
Financial Planning
Planning
"Smart
"Smart planning
planning for
for aa secure
secure future"
future"
Mobile
Mobile (+63
(+63 917
917 502-3149),
502-3149), Email:
Email:
alvintabz@yahoo.com
alvintabz@yahoo.com
Follow
Follow in
in Facebook:
Facebook: www.facebook.com/alvin.tabanag
www.facebook.com/alvin.tabanag

Applicable

culation below)

Child 5

Applicable

culation below)

ual practice, any

your retirement fund

Now

9/22/2016