Personal financial Statement

A personal financial statement is a document that showcases all of your liabilities and personal assets including your net worth alongside displaying your financial health.

If you are planning on buying/doing any of the following:

Buying a Home
Buying a Car
Making an Investment
Starting a Business
Making Major Financial Decision
Estate Planning
Planning for Retirement

Lender’s will ask for a personal financial statement to see your financial health.

The body of your personal financial statement should include the following:

Your assets

Assets are items/things you own, such as investments, cash, property, etc

Your liabilities

Liabilities are debts and loans

Your net worth

Your net worth is the result you get from removing the liabilities from your assets.

Why do you need a personal financial statement?

A personal financial statement can assist with organizing your finances and ensuring you are not leaving out any important financial details. In addition, Lenders, creditors, landlords, investors can request your personal financial statement to determine if you are a qualified candidate and/or a good investment.