Evaluating Your Finances

Managing home finances involves handling details. Sometimes people get lost in the details and can lose sight of the big picture. Simple Home Finances provides reports and tools that summarize your finances and help you evaluate your finances so you don't lose sight of your big picture!

In the same way a business must monitor operations and make adjustments to keep their finances in shape, so households need to monitor their finances and make adjustments to keep their finances balanced.

Simple Home Finance toolkits provide a system you can use to budget your money, plan your retirement and manage your debt. When these toolkits are used and kept up to date they populate the Evaluate Toolkit's reports and workbenches with the latest information. You can stay on top of your finances using this toolkit!

The Evaluate toolkit includes:

The Summary Report which provides:

• A summary report of your budget, loan and retirement finances
• Budget, Income and Actual cost comparisons and annual projections.
• Debt balance, monthly payment totals and your total debt as a percent of your budget
• Projections of your mortgage equity, equity available to consolidate debt (maintaining 20% equity) and current loan to value percent.
• Retirement projections providing answers to common questions such as; Can I work longer? Am I eligible for a Reverse Mortgage? Are my retirement costs projections reasonable? Am I adjusting for a reasonable inflation rate? and can we live on less in retirement?
• Links to go to the Summary Report and back from worksheets you want to work on such as these command centers; Budget Plan, Loan Workbench and Retirement Planning. You can stay on top of your finances using this toolkit!

The Retirement Report provides a complete summary of your retirement financial picture including:

• Planning factors
• Personal Profiles
• Estimated and projected savings
• Retirement income projections including; costs, funding and projected earnings
• How long your money will last using just savings or your savings added to your retirement income.
• Retirement funding details show how much is required from each savings account of each income earner for each year of retirement.

The Savings Workbench Projects your retirement savings based on:

• Using all or some of your current retirement savings
• A monthly savings amount you set
• The number of savings years remaining you set.
• Allocating your investments by percent against multiple investment types.

Maps your savings projections against savings goals you set for:

• Using only savings, Retirement Spending 1
• Using retirement income and savings, Retirement Spending 2

Allows you to:

• Manage your retirement investment account information, including Provider/Broker and Account information as well as setting up the Provider/Brokers web address.
• Update Retirement Planning with updated investment or savings account totals.
• Model 4 different allocation models based on different risk profiles.
• Model various allocations of your investments based on a complete set of equity, bond and cash index returns for the last 3 and 5 years.

Future Evaluation tools include:

• We previously envisioned a Due Now Report but found a better way to convey this information to you, in the next release of the software on the Budget Plan amounts due in the current week will be bold and the cell color will be white
• A Goal Workbench which will allow you to establish goals and project whether you will meet those goals. You can associate actual savings from your paychecks or budget as current monthly savings toward each of your goals.
• File Archiving which will allow you to archive data from the whole workbook (Master Toolkit) or data just related to Retirement Planning, for any period of time you want. This will allow you to review those archived files in the workbook (Master Toolkit) at a later date.

If you want to master your money, Simple Home Finances Master Money toolkit is what you need!

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