Spreadsheets I Use Regularly
“If you fail to plan, you’re planning to fail”
Part of my planning process is regularly reviewing my spreadsheets. These sheets that I have created have allowed me to stay current on my goals, finances and vision.
Here are the spreadsheets I use and what their purpose is:
Net Worth Statement: At a snapshot at time, review all your assets, liabilities to determine the value remaining
Monthly Budget: Reviewing your income (s) and subtracting your expenses (fixed, variable) to determine your monthly surplus or deficit
Household Budget: Review the monthly expenses of owning your home. It is a common misconception that your primary residence is a great investment, few people review the exact costs/maintenance required to maintain your home.
Rental Property Cash Flow Statement: Review your income (s) and subtract your expenses (fixed, variable) to determine your monthly cash flow. It is not as simple as your rent minus your mortgage and property tax
Return on Time: My favourite metric. What is your time actually worth? Why should you care,?! Only because it is the most valuable non-renewable resource we have. Reviewing every one of your income sources, the total yearly value and the time that is committed to it to determine a dollar value of your hour of time.
When the U.S. dollar strengthens against other currencies, its effects reach portfolios across the globe. For Canadians, this could mean changes in the value of U.S. stocks within a portfolio, while American investors may see impacts on global purchasing power and the performance of multinational companies.