Dear Piggy Bank - Forms Instructions

In order to provide you with the best service possible we will ask you to provide your financial information. This will take approximately 15 minutes and will go more smoothly if you have the following information handy:

• Regular income (pay advice or income tax return)
• Bank statements
• Credit card statements
• Loan payment, interest rate, balance owing
• Mortgage payment, interest rate, balance owing
• Monthly bills amounts, payment dates
• Irregular bills amounts, payment date (property taxes, car insurance)

Goals:

• What do you want to achieve? What financial objectives are important to you in terms of supporting your lifestyle and/or making you feel good about yourself? Security: A contingency fund or planning for your retirement. Financial Control: Reduce or manage your debt. Money Savvy: Financial Planning.
• Which goal is your top priority?
• What is a reasonable amount of time to take to achieve your goals?
• Place a value on them.

Assets & Liabilities:

• Please input information about your assets (things you own) and liabilities (money you owe).
• Estimate the value (what is the item worth on the market). Include tangible items such as cars, homes, RSPs, other investments.
• Do not include leased cars in the asset category.
• Include any loans that you have co-signed even if you are not the primary borrower in the liability category.

Income:

• To calculate your gross monthly income: Divide your annual salary by 12 or multiply your hourly rate by the number of hours that you work each month. *Before deductions.
• Your net monthly income is the amount you receive after deductions such tax (provincial and/or federal), CPP (Canada Pension Plan), EI (Employment Insurance), Medical, Dental, LTD (Long Term Disability), or STD (Short Term Disability).
• If you receive your paychecks on a schedule other than monthly then convert the amounts to monthly amounts. If you receive your pay biweekly (every second week) then multiply the net amount by 26 and divide by 12. If you receive it weekly then multiply the net amount by 52 & divide by 12.
• Irregular income may include bonuses, commissions, tax refunds or other money you receive that is either irregular in terms of when you receive it or it is based on uncertain criteria.

Expenses:

• Use actual expenses. Not sure how much you spend? Take a look at your bank and credit card statements for the past 6 months.
• Fixed Payments: Include rent, loans, mortgage, property taxes, heat, electricity, cable, internet, condo or maintenance fees. Any payments that are generally the same month to month.
• Match monthly payment amounts to the liabilities you noted. For example if you own a car then don’t forget to include a loan payment (if you have one), car insurance and general transportation costs (including gas & maintenance).
• Fixed Payments Other: Items such as telephone/cell, life insurance, day care, gym memberships.
• Variable Expenses: Items such as food, entertainment, gas, and grooming (haircuts) are variable expenses.
• Please Note - If you have an annual expense please convert it to monthly expense by dividing it by 12