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This document serves as a personal financial statement for individuals applying for credit with the Community Bank of the South, capturing personal and joint financial information as well as assets,

How to fill out personal financial statement

How to fill out PERSONAL FINANCIAL STATEMENT

1. Start with your personal information: Full name, address, and contact details.
2. List all your assets: Include cash, bank accounts, real estate, vehicles, investments, and personal belongings.
3. Detail your liabilities: List all debts such as mortgages, car loans, credit card debt, and any other obligations.
4. Calculate your net worth: Subtract total liabilities from total assets to find your net worth.
5. Include income information: List all sources of income such as salary, business income, and any other revenue.
6. Document expenses: Outline your monthly expenses including living costs and discretionary spending.
7. Review and update periodically: Ensure the statement reflects current financial status and make necessary adjustments.

Who needs PERSONAL FINANCIAL STATEMENT?

1. Individuals applying for loans or credit.
2. Small business owners seeking financing.
3. Financial advisors preparing investment strategies.
4. Estate planners addressing asset distribution.
5. Anyone pursuing a clear understanding of their financial health.

People Also Ask about

What is included in a PFS?

A personal financial statement (PFS) is for organizing and measuring an individual's or family's financial status. The PFS has two chief sections: a cashflow assessment of income and outflows , as well as a balance sheet which displays one's overall assets, liabilities, and overall net worth.

What are the 5 main components of personal finance?

The income statement, balance sheet, and statement of cash flows are all required financial statements. These three statements are informative tools that traders can use to analyze a company's financial strength and provide a quick picture of a company's financial health and underlying value.

What is an example of a financial statement?

How to prepare an income statement Choose your reporting period. First, choose the length of your reporting period. Determine your trial balance. Determine revenue. Calculate the cost of goods sold. Determine gross profit. Determine expenses. Calculate total income. Determine taxes and interest.

What do you write in a personal statement for finance?

I have always had a logical, organised and practical way of thinking, as well as a competitive nature, and I have realised that finance and accounting is the degree, which appeals to these characteristics. I noticed these logical subjects to be my forte from a young age.

How do you write a personal financial statement?

List your assets: Identify and value all your assets using current market values for investments and real estate. List your liabilities: Include all your debts, noting the remaining balances and interest rates. Calculate your net worth: Subtract your total liabilities from your assets to determine your net worth.

What is financial statement in English?

Financial statements are a set of documents that show your company's financial status at a specific point in time. They include key data on what your company owns and owes and how much money it has made and spent. There are four main financial statements: balance sheet.

For pdfFiller’s FAQs

What is PERSONAL FINANCIAL STATEMENT?

A Personal Financial Statement is a document that provides a comprehensive overview of an individual's financial position, including assets, liabilities, and net worth.

Who is required to file PERSONAL FINANCIAL STATEMENT?

Individuals seeking loans, applying for credit, or those in certain professions may be required to file a Personal Financial Statement to provide evidence of their financial status.

How to fill out PERSONAL FINANCIAL STATEMENT?

To fill out a Personal Financial Statement, gather relevant financial documents, list all assets and their values, record all liabilities, and calculate total net worth by subtracting liabilities from assets.

What is the purpose of PERSONAL FINANCIAL STATEMENT?

The purpose of a Personal Financial Statement is to assess an individual's financial health, facilitate loan applications, aid in budgeting, and assist financial advisors in providing guidance.

What information must be reported on PERSONAL FINANCIAL STATEMENT?

A Personal Financial Statement must report information including cash and cash equivalents, investments, real estate, personal property, liabilities (like mortgages and loans), and net worth.