Get the free Personal Financial Statement - Mountain West Bank

Personal Financial Statement As of: We acknowledge that we are applying jointly as borrowers/guarantors. Initial Name: SSN#: DOB: Employed By: # of Years: Occupation: Email: Business Phone: Fax Number:

How to fill out personal financial statement

How to fill out personal financial statement:

1. Start by gathering all necessary financial information such as bank statements, investment statements, tax returns, and monthly income and expense records.
2. Organize the information into different categories such as assets, liabilities, income, and expenses.
3. Begin with the assets section and list all your current assets, including cash, savings accounts, investments, real estate, and vehicles. Be sure to include their estimated value.
4. Move on to the liabilities section and list all your outstanding debts, such as mortgages, loans, credit card balances, and any other liabilities you may have.
5. Calculate your net worth by subtracting your total liabilities from your total assets.
6. You should also include a separate section for income, listing all your sources of income, such as salaries, rental income, dividends, and any other relevant income streams.
7. In the expense section, record all your regular monthly expenses, such as mortgage or rent payments, utility bills, insurance premiums, groceries, transportation costs, and any other recurring expenses.
8. Summarize your total income and total expenses, and calculate your monthly cash flow by subtracting your total expenses from your total income.
9. Finally, review your personal financial statement for accuracy and completeness, making any necessary adjustments or additions.

Who needs a personal financial statement?

1. Individuals seeking personal loans or mortgages often need to provide a personal financial statement to lenders as part of the application process.
2. Business owners may need a personal financial statement when applying for business loans or seeking investors.
3. Individuals going through divorce proceedings may be required to submit a personal financial statement to determine the division of assets and liabilities.
4. High net worth individuals may use a personal financial statement to assess their overall financial health and plan for the future.
5. Estate planners and financial advisors may use personal financial statements to help clients with financial planning and wealth management.
6. Individuals considering major financial decisions, such as buying a home or starting a business, may find it beneficial to create a personal financial statement to assess their financial capabilities and risks.

By following these steps, you will be able to accurately fill out a personal financial statement and understand who needs it in various situations.

For pdfFiller’s FAQs

What is personal financial statement?

A personal financial statement is a document that provides an individual's financial information, including assets, liabilities, income, and expenses.

Who is required to file personal financial statement?

Certain individuals, such as elected officials, candidates for public office, and high-level government employees, may be required to file a personal financial statement.

How to fill out personal financial statement?

To fill out a personal financial statement, individuals typically need to gather information on their assets, liabilities, income, and expenses, and then report this information on the designated form provided by the appropriate authority.

What is the purpose of personal financial statement?

The purpose of a personal financial statement is to provide transparency and accountability regarding an individual's financial situation, particularly for those in positions of public trust.

What information must be reported on personal financial statement?

Personal financial statements typically require reporting of assets such as cash, investments, real estate, and personal property, as well as liabilities such as loans and mortgages.

How do I edit personal financial statement online?

With pdfFiller, it's easy to make changes. Open your personal financial statement in the editor, which is very easy to use and understand. When you go there, you'll be able to black out and change text, write and erase, add images, draw lines, arrows, and more. You can also add sticky notes and text boxes.

How do I make edits in personal financial statement without leaving Chrome?

Download and install the pdfFiller Google Chrome Extension to your browser to edit, fill out, and eSign your personal financial statement, which you can open in the editor with a single click from a Google search page. Fillable documents may be executed from any internet-connected device without leaving Chrome.

How do I fill out personal financial statement using my mobile device?

The pdfFiller mobile app makes it simple to design and fill out legal paperwork. Complete and sign personal financial statement and other papers using the app. Visit pdfFiller's website to learn more about the PDF editor's features.