Widows Well - Continue The Journey

Update your estate plan

Develop a budget

Use Budget Forms – consider these suggested percentage of income for each major expense

• Example: Tithe = 10%

• Savings = 10%

• Debt = less than 7%

• Housing, (mortgage, taxes, insurance and utilities) = less than 38%

• Auto/Transportation, (auto loan, maintenance, fuel, insurance, registration) = less than 15% Food costs = 12%

• Insurance, (disability, life, health) = 5%

• Entertainment and recreation = 5%

• Medical and dental expenses, (medication, co-pays and deductibles) = 5%

• Miscellaneous for incidental expenses = 5%

Develop a short-term and long-term financial plan. Meet with a financial planer for this.

Assess your net worth