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PERSONAL FINANCIAL STATEMENT FOR SECURITY PURPOSES, DO NOT RETURN THE COMPLETED STATEMENT VIA E-MAIL CONFIDENTIAL PLEASE DO NOT LEAVE ANY QUESTIONS UNANSWERED For the purpose of procuring and maintaining

How to fill out personal financial statement

How to fill out a personal financial statement:

1. Start by gathering all of your financial documents such as bank statements, investment statements, credit card statements, and loan statements.
2. Identify your assets, which can include cash, savings accounts, investments, real estate, vehicles, and valuable items such as jewelry or artwork. List the value of each asset.
3. Determine your liabilities, including any outstanding loans, credit card debt, mortgages, and other debts. List the amount owed for each liability.
4. Calculate your net worth by subtracting your total liabilities from your total assets. This will give you a snapshot of your current financial position.
5. Provide details about your income sources, including your salary, any rental income, business income, or investment income. Include supporting documents such as pay stubs or tax returns.
6. List your monthly expenses, such as mortgage or rent payments, utilities, insurance premiums, transportation costs, groceries, and entertainment expenses. Be as accurate as possible and include any recurring payments.
7. Calculate your monthly cash flow by subtracting your total monthly expenses from your total monthly income. This will help you understand how much money you have available for savings or additional expenses.
8. Lastly, review your personal financial statement for accuracy and completeness. Make sure all the information is up to date and reflects your current financial situation.

Who needs a personal financial statement?

1. Individuals who are applying for a mortgage or other types of loans may need to provide a personal financial statement to the lender. This helps the lender assess the borrower's financial capability and assess the risk involved in lending.
2. Entrepreneurs or small business owners may need a personal financial statement when applying for business financing or seeking investors. It provides an overview of their personal financial health and stability.
3. High-net-worth individuals and families often use personal financial statements as part of their overall wealth management strategy. This allows them to track their assets, liabilities, and net worth accurately and make informed financial decisions.
4. People going through divorce proceedings may be required to submit a personal financial statement as part of the legal process. It helps determine the division of assets and liabilities during the settlement.
5. Estate planning professionals and financial advisors may request a personal financial statement from their clients to gain a comprehensive understanding of their financial situation. This helps in creating effective financial plans and strategies.

Remember, it is always best to consult with a financial professional or advisor if you have specific questions or concerns about filling out a personal financial statement.

For pdfFiller’s FAQs

What is personal financial statement?

A personal financial statement is a document that outlines an individual's financial position by summarizing assets, liabilities, and net worth.

Who is required to file personal financial statement?

Elected officials, government employees, and individuals in certain professions are required to file personal financial statements.

How to fill out personal financial statement?

A personal financial statement can be filled out by listing all assets and liabilities, calculating net worth, and providing additional financial information as required.

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 affairs.

What information must be reported on personal financial statement?

Information such as cash, investments, real estate, loans, and other financial holdings must be reported on a personal financial statement.

Where do I find personal financial statement?

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