Finances, whether for business or for personal purposes, should always be monitored. This is especially true if you are a business owner as lenders and investors would not only care about your business’s financial stability and position, but they would also care to see if they can trust you enough to handle their investments to your company based on the health of your own finances. You can also like income statement samples.

This is where personal financial statements start entering the picture. Whether you want to start monitoring your finances for future possibilities of asking lenders or banks for loans or just to personally monitor your finances, we would want to help you get a head start!

We are here to present to you a few sample personal financial statements are in Excel and PDF file formats that are highly compatible with your computer as well as your mobile devices so you can start making your financial statements even if you are the on-the-go type of person. Keep reading this article as we have provided you a simple breakdown of what you can find in your personal financial statements. Let’s jump in and start improving our financial literacy.

Personal Financial Statement in Excel

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Confidential Personal Financial Statement

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Size: 68 KB

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Blank Personal Financial Statement

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Size: 508 KB

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What Is a Personal Financial Statement?

A personal financial statement is basically a document that will show the current financial standing or situation. This document will reflect the assets of an individual as well as the liabilities that he/she has. Some of the common assets of an individual can be cash, bank account, owned/purchased property, vehicles owned (motorcycles and cars), and investments.

Personal liabilities of an individual can be debts (such as from credit cards), taxes, loans, child support, mortgage, and other financial responsibilities. This document is commonly used to calculate an individual’s net worth by subtracting the liabilities from the assets, and if you are a married individual, your personal statement will be a joint financial statement of you and your spouse.

If you are new when it comes to filing personal financial statement samples, you may be wondering when and where this document would be used. Here is a short list of situations where there is a need for this document:

  • If you have plans for obtaining a loan
  • For obtaining investment transactions
  • To develop financial plans such as for retirement plans and other financial plans
  • To minimize an income tax
  • To pinpoint what your properties are if you are undergoing a custody hearing or annulment/divorce
  • If you plan on running for office

Banks are mainly the ones who ask for a financial statement as they would like to see if you have a good amount of assets and what these assets are. Just like any financial statement analysis, a personal financial statement looks basic: your assets can be found on the left while the liabilities will be found on the right side.

Real Estate Personal Financial Statement

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  • PDF

Size: 730 KB

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Bank Personal Financial Statement Sample

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  • PDF

Size: 768 KB

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Broker Personal Financial Statement

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  • PDF

Size: 59 KB

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Personal Financial Statement Template

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Size: 12 KB

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Components of a Personal Financial Statement

If you want to keep your finances in check for applying for loans, making financial plans, or for personal reasons, personal financial statements come in handy. With personal financial statements, you will be able to monitor if you are spending within your means or if you have been spending more than you are supposed to.

There are two types of financial statement used by individuals:

Personal Cash Flow Statement

As the words cash flow implies, your personal statement of cash flows refers to the cash that comes in and out of your pockets or bank accounts. Over a specific period of time required by banks or according to your preference, you will have a good idea about where and how your money comes in and out.

Cash inflows would typically come from

  • Your salary,
  • Your stocks and bonds, and
  • The interests of your investments and savings accounts.

Cash outflows are basically your expenses that would typically come from the following:

  • Bills,
  • Gas,
  • Entertainment expenses,
  • Food,
  • Mortgage,
  • Rent,
  • Other expenses you might have.

The main reason why you are monitoring your cash inflows and outflows is to basically know what your net cash flow is. You can compute your net cash flow by subtracting your outflow from the inflow (Cash Inflow − Cash Outflow = Net Cash Flow). If you have a positive net cash flow, this means that you are earning more than you are spending, which is definitely a good thing. You can also like cash flow analysis samples.

Personal Balance Sheet

Just like business financial statement forms, a personal balance sheet reflects your personal assets, personal liabilities, and personal net worth.

Your personal assets can be broken down into three categories:

  • Liquid assets or your properties that can be easily converted to cash such as your checking account, savings account, and of course, cash;
  • Large assets such as land properties, houses, vehicles, and furniture; and
  • Investments such as mutual funds, stocks, real estates, as well as bonds.

Personal liabilities for this matter refer to what you owe. These are bills, matured portions that can be paid within a specific period of time such as for cars and houses, and loans.

Personal Financial Statement Form

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  • XLS

Size: 46 KB

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Personal Financial Statement Worksheet

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  • XLS

Size: 107 KB

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SBA Personal Financial Statement Form

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  • PDF

Size: 143 KB

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What Is the Importance of a Personal Financial Statement?

Just like how a business would prepare essential financial statements for their business, there is also a benefit when it comes to preparing your personal financial statements. So why are these documents considered to be important? Check out this list.

  • For starters, it will be easier for you to properly allocate your assets and liabilities. By updating your personal financial statement forms on a regular basis such as weekly or monthly, you will have a good idea if you are overspending or if you can do something to make your finances look more healthy to ensure that your financial standing is in good shape.
  • It will be easier for you to assess what your current net worth is. Net worth is a good way of gauging if you are doing good financially or otherwise. The more your net worth grows as time goes by, it means that your financial standing is healthy as opposed to a decreasing net worth. Your net worth is basically the equivalent of the owner’s equity in a business’s financial statement forms.
  • When you make or fill out your personal financial statement sample  and regularly update it, you will be able to monitor your cash flow and see whether it is positive or otherwise. To know what your cash flow is, you can simply deduct your total expenses to the total income that you have earned. Much like what a positive net worth indicates, a positive cash flow would enable you to develop good saving skills and know how to manage your expenses in the long run. You can also like billing statement samples.
  • As you get more and more into making your personal financial statement, you will eventually learn more about asset protection, maximizing your profits, and make your investments more valuable over time. This way, you will also develop the technical skills to being able to efficiently grow your wealth and be able to properly provide your needs/family’s needs.

Learning the importance of personal financial statements do not end the first time or second time that you file it. Remember, it is a continuous learning experience making you more and more financial literate as time passes by. You can also like mission statement samples.

Private Banking Personal Financial Statement

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  • PDF

Size: 46 KB

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Editable Personal Financial Statement

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  • XLSX

Size: 67 KB

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Downloadable Personal Financial Statement

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Size: 61 KB

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Key Takeaway about Personal Financial Statements

As you have learned in this article, your personal financial statement example is an important document that would help you monitor and document your finances by keeping track of your personal assets and personal liabilities. It is also a good document to prepare especially if you are applying for financially-related applications such as appraisals, loans, and other investments. Lending companies and banks would like to have a good view of your financial status to see if you would be a good candidate for loans and other types of financial obligations. You can also like financial report samples.

When it comes preparing your personal financial statements, you should also be prepared with all the necessary documentations that would prove that what you have declared is accurate and factual. Such documents could be your payslip templates, official bank statements, as well as your simple payment receipt could serve as proper documentations that you can attach when you prepare your financial statement.

This way, processing any applications you might have will become way easier, faster, and will be as smooth as possible. Remember to fill out or prepare your income statements honestly and accurately. It is best that you also make sure that nothing is left out and should there be anything that confuses you, you should never hesitate to ask anyone about it, be it an accountant or a good friend who is experienced with preparing personal financial statements. Never make any false statements as this can be damaging to your reputation and it is also a violation.

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