Get the free Personal Financial Statement - Corry Area Redevelopment Authority

Personal Financial Statement Date: / / Personal Information Name: Address: City, State, Zip: Home Telephone: SSN: Birthdate: Dependents: Bus Telephone: Section I ASSETS Cash on hand & in Banks (A)

How to fill out personal financial statement

How to fill out a personal financial statement:

1. Gather all relevant financial documents such as bank statements, investment statements, tax returns, and pay stubs.
2. List all your assets, including cash, stocks, real estate, and vehicles. Be sure to provide accurate valuations for each asset.
3. Note down all your liabilities, such as mortgages, credit card debt, auto loans, and student loans. Include the outstanding balances and monthly payments for each liability.
4. Calculate your net worth by subtracting your total liabilities from your total assets.
5. Provide details of your income sources, including employment income, business income, rental income, and investment income. Include the amounts and frequency of each income source.
6. Outline your monthly expenses, including housing costs, utilities, transportation expenses, food expenses, debt payments, and any other recurring expenses. Be as detailed and accurate as possible.
7. Calculate your monthly cash flow by subtracting your total expenses from your total income.
8. Include any additional financial information or explanations that may be required, such as significant assets or liabilities not previously mentioned.
9. Review the completed personal financial statement for accuracy and make any necessary adjustments.
10. Sign and date the statement to certify its accuracy.

Who needs a personal financial statement:

1. Individuals applying for loans: Banks and other financial institutions often require a personal financial statement to assess an individual's financial stability and ability to repay a loan.
2. Business owners and entrepreneurs: When seeking financing for a business, potential investors or lenders may request a personal financial statement from the business owner or entrepreneur to evaluate their financial standing and personal commitment to the venture.
3. High-net-worth individuals: Wealthy individuals may require a personal financial statement for estate planning purposes, tax planning, or to understand their overall financial picture and make informed investment decisions.
4. Those undergoing a divorce or separation: In divorce proceedings, a personal financial statement may be necessary to determine the division of assets, spousal support, child support, and other financial matters.
5. Individuals seeking financial advice: Working with a financial planner or advisor often involves providing a personal financial statement as it helps them assess your financial goals, identify areas for improvement, and develop a suitable financial plan.

Remember, the importance of a personal financial statement lies in its ability to provide a comprehensive overview of your financial situation, helping you make informed financial decisions and plan for the future.

For pdfFiller’s FAQs

What is personal financial statement?

A personal financial statement is a document that provides a snapshot of an individual's financial situation at a specific point in time.

Who is required to file personal financial statement?

Individuals who hold certain government positions, such as elected officials or public employees, are often required to file a personal financial statement.

How to fill out personal financial statement?

To fill out a personal financial statement, you will need to gather information about your assets, liabilities, income, and expenses, and then organize this information into the appropriate sections of the form.

What is the purpose of personal financial statement?

The purpose of a personal financial statement is to provide transparency about an individual's financial situation and to help prevent conflicts of interest or unethical behavior.

What information must be reported on personal financial statement?

Typically, a personal financial statement will require information about assets, liabilities, sources of income, and possible conflicts of interest.

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