I probably posted this before but thought it might be worth flagging again - and maybe could be expanded upon if necessary and perhaps included in an appropriate key post or whatever...? I'm assuming that permanent tsb won't mind the recommendation and links posted here...
permanent tsb provide a very useful Microsoft Excel spreadsheet version of the Standard Financial Statement (SFS) here:
Scroll down to the bottom of the page to link to the download page which is here:
Note that "Save Target As..." is Internet Explorer nomenclature and other browsers may have a slightly different name for this (e.g. in Firefox it's "Save Link As...").
Heed the note about macros and the possible need to enable them when presented with a security warning in Excel on opening the spreadsheet!
Standard Financial Statement forms are available from many other places but usually in PDF or Microsoft Word format which must be printed off and filled in by hand which can be cumbersome. This is the only spreadsheet version that I have come across and I have found it really useful when helping others to analyse their finances. Advantages of this spreadsheet version include - the fact that it includes a "wizard" style flow that guides you when filling it out, the ability to fill it out incrementally, save data, modify data later on (e.g. as you refine estimates or your circumstances change etc.), it prints out nicely etc.
The spreadsheet makes extensive use of Excel macros and this is completely OK/safe but if you get a warning about these when you open the spreadsheet then please note what permanent tsb say here:
This summary information about Microsoft Office/Excel macros from Microsoft might also be of use:
Background info
The Standard Financial Statement is a useful tool for analysing your personal/household financial situation particularly with regard to incomings/outgoings and debts. In particular it will usually be required by your lender if you are in difficulties with your mortgage (and/or other secured or unsecured debts) and engaging with them (e.g. under MARP) in order to rectify the situation.
See here for more info about the SFS:
permanent tsb provide a very useful Microsoft Excel spreadsheet version of the Standard Financial Statement (SFS) here:
Scroll down to the bottom of the page to link to the download page which is here:
Note that "Save Target As..." is Internet Explorer nomenclature and other browsers may have a slightly different name for this (e.g. in Firefox it's "Save Link As...").
Heed the note about macros and the possible need to enable them when presented with a security warning in Excel on opening the spreadsheet!
Standard Financial Statement forms are available from many other places but usually in PDF or Microsoft Word format which must be printed off and filled in by hand which can be cumbersome. This is the only spreadsheet version that I have come across and I have found it really useful when helping others to analyse their finances. Advantages of this spreadsheet version include - the fact that it includes a "wizard" style flow that guides you when filling it out, the ability to fill it out incrementally, save data, modify data later on (e.g. as you refine estimates or your circumstances change etc.), it prints out nicely etc.
The spreadsheet makes extensive use of Excel macros and this is completely OK/safe but if you get a warning about these when you open the spreadsheet then please note what permanent tsb say here:
This summary information about Microsoft Office/Excel macros from Microsoft might also be of use:
- http://office.microsoft.com/en-ie/excel-help/about-macros-in-excel-HP005201201.aspx
- http://office.microsoft.com/en-ie/w...e-macros-in-office-documents-HA010031071.aspx
- http://office.microsoft.com/en-ie/support/using-macros-to-speed-up-your-work-HA001019230.aspx
Background info
The Standard Financial Statement is a useful tool for analysing your personal/household financial situation particularly with regard to incomings/outgoings and debts. In particular it will usually be required by your lender if you are in difficulties with your mortgage (and/or other secured or unsecured debts) and engaging with them (e.g. under MARP) in order to rectify the situation.
See here for more info about the SFS:
- keepingyourhome.ie
- [broken link removed]
- [broken link removed]
- Don't forget to account for mortgage interest relief (TRS) (e.g. as an "income") if applicable (I did once and wondered why the monthly shortfall was even larger than expected!
) - Try to estimate average monthly figures as accurately as possible to avoid skewing the figures based on just the most recent data - e.g.
- Take your last P60 or last payslip of the last year and use the cumulative gross and net figures divided by 12 rather than, say, just using your most recent payslip. Better still average the figures from your most recent 12 months payslips (but that's a bit more hassle).
- Try to get a representative annual figure for things like utility bills by averaging them over a 12 month period's worth of bills if possible.
- Keep a spending diary to get a better idea of day to day expenditure and what it adds up to monthly under the various headings. It's hassle and takes a bit of discipline but it will yield more accurate data than just guesstimating.
- If in doubt be conservative and over rather than underestimate outgoings. You can always refine them as you get more data.
- Don't ignore expenditure headings on the assumption that they are not relevant - you might be surprised when you tot up what you spend on seemingly negligible items.
- Add your own custom headings if necessary.
- Each time you make changes maybe save the file with a date in the name (e.g. ClubMan-SFS-20130227.xls) so that you can review changes/progress over time.
- More to follow if I (or others) think of them...
