LaTonya Johnson walks through an Excel cash flow template that tracks monthly income and expenses side by side, with automatic totals showing whether you end up positive or negative. Lenders will ask for this, and a negative number means you need to cut spending or risk loan denial.
Chapters
Hey, this is Latonya and I created the Cash Flow Analyzer as another tool for you to get an understanding of where your money goes on a monthly basis. This is information that your lender is going to ask you for. So I went on ahead and created a tool that'll make it easier for you to figure that out. So on the left hand side you have your income, your primary sources of income, whether it be employment, part time employment or rental property, child support, whatever goes on this side. If you if there's a category that is not here, please feel free to enter it. This is an Excel spreadsheet and the totals will automatically calculate in the top cell. You do the same with your expenses. All of your expenses are on the right side. You fill that in if there isn't.
If it doesn't mention your category, please feel free to enter it. And I created a box at the top to let you know whether your monthly income is positive or negative. If you have more expenses than income. And that's very important to know because your lender may turn down your request for a workout solution if your expenses are greater than your income. So that means that you'll have to make some adjustments in how you spend your money on a monthly basis and create a budget.
