How To Write Personal Financial Statement

If you apply for the lenders, many lenders will ask you and request you for the financial statement. This financial statement will support the decision that will maintain the additional funds that are on the credit line. The personal financial states are in a form of a statement that will present your assets, liabilities, sources of income and expenses.

Personal Financial Statement Template
Basic information related to Personal Financial Statement

This paper which is a personal financial statement should be verified before it is sent to the lender. Your lender might then ask you to provide the documents that will support your information in the personal financial states. These documentations are such as your bank statements, current pay stubs. mortgage loan statements and real estate appraisals.

Step by step guidelines to fill out a personal financial statement

Here are some steps that will help you to write your personal financial statement. You should have your bank statements, current pay stubs. mortgage loan statements and real estate appraisals before you write your financial statement.

Personal Financial Statement Template

  • You have to identify the complete information that is on the top of your personal financial statement. If the personal statement is for yourself and your spouse, then that also includes the identification of the information for both of you.
  • You have to list each of your asset in the section that is provided to be filled. You have to mention all your assets even if it is your home or any other real estate. You also have to tell your current bank balance in one of it section. They will ask for your investment accounts and bank accounts. With all this, you have to tell your life insurance details.
  • You have to list your liability in each of the section that will be there in the form. For any asset owned that is security for a mortgage or loan, including your home and cars, provide the current balance outstanding. If you have any loan, you have to mention that as well.
  • Now you have to calculate the net worth by subtracting the total liabilities from the total assets.
  • Now you have to provide information for all sources of income in the section provided.

The Financial Planning Process

Leave a Comment