Muhlenkamp Marathon Financial Training Workbook
There are many similarities between training for a marathon and creating a legacy of financial freedom—both take desire, time, effort, and discipline. Our workbook contains 26.2 “miles” of financial information to use as a reference guide to keep you on course, including best practices based on current tax rules and regulations, as well as words of wisdom based on experience, observation, and statistics.
Remember, training for a marathon takes time to lose fat and build up muscle and endurance. Training for financial freedom takes time to pay off debt and grow assets. Just like any fitness agenda, once you have reached your goals, you must maintain them. We suggest you review this workbook annually, to make sure you are staying on course. As things change in your life, you may want to revise some decisions that you made in earlier years.
Since this is about a marathon, we’ve also included general running tips, if you want to challenge yourself both physically and financially.
Cash Flow Statement
Create a Budget! A budget is a written plan of how you will spend your money for a specified time period (usually monthly). This tool can help you manage your future spending in an attempt to keep your expenses aligned with your income and your financial goals. A budget allows you to see your financial life on paper. You can use the last column of this cash flow statement to plan how you will spend your income next month. Every dollar should be accounted for, whether you spend it or save it.