The Monthly Tracking Sheet - Essay Example

The first worksheet entry reflects the money I used to fuel my car. I used $100 every week to fuel my car. For one month, I spent 400 dollars to fuel my car. This is equivalent to 8% of my monthly income.
The second worksheet entry shows the amount of money I used to go for a movie show for a single month. To go to Movie Theater to watch a movie, I spent $20. This was part of my entertainment expenses equivalent to 0.4% of my income.

The third worksheet is a display of the money I spent on groceries. Each week, I bought groceries worth $85. Monthly, this is equal to $340 or 6.8% of my income.
The fourth entry presents the amount of money I used in one month to rent a movie. This was part of my entertainment worth $5. This is equivalent to 0.1% of my income.
The fifth worksheet is a reflection of the money I spent with a friend at Starbucks. The amount I spent was $20, which is equivalent to 0.4% of my income.

The sixth worksheet exhibits the amount of money I spent on shopping. For the whole month, I did shopping worth $260. This is equivalent to 5.2% of the income.
The seventh worksheet demonstrates the figures I used to service my car. I used $1500 to buy car parts, and tires, once a month. This is equivalent to 30% of my income.
Finally, the eighth worksheet displays my source of income. From my parents, I acquire an income worth $5000.

Tracking Sheet
According to Gibson (145-189), a financial tracking sheet maintains a record of an individual’s financial progress. It reflects individual decisions before they complete a budget, fulfill diverse distribution demands, and meet their main requirements (Gibson, pp145-189). From my spreadsheet, there were only nine entries for a whole month. Each entry showed some financial decisions I made for the whole month. The spreadsheet gives information like the date I spent, the amount of money I spent, the amount of income, the category of the event, and the description of the event.

Income/Expenses Statement
The tracking sheet measured my financial performance over the one-month financial duration. To find the expense statement, I determined how I acquire cash and sustain some in my pocket amidst expenses. My overall expenses amounted to $2545 and my income was $5000.
Net Worth Statement
The tracking sheet displays my new worth statement; it displays my underlying money, liabilities, and net worth after subtracting cash from liabilities (Gibson, 145-189). After adding my expenses ($2545), and subtracting it from my income ($5000), my net worth was $2455.

Financial Ratios
Financial ratios are useful determiners of financial conditions. They reveal my financial strengths and weakness. The liquidity ratios (1.96464) measured the presence of cash to settle debts. Since it is greater than one, I could easily meet my debts. The debts ratios measure my ability to repay long-term debts. In this case, I did not have any debt. The profitability ratios measured how I used cash and control expenditures.

Retirement Sheet
This revealed the retirement benefits I accrued from my saving. I used the social security administration’s calculator to estimate the retirement benefits after accessing their actual earning records.

Conclusion
From the discussion above, a person must undertake his/her financial analysis to comprehend the uses of the available money. This ensures accountability and good stewardship of the resources.