Get the free PERSONAL FINANCIAL STATEMENT - Rocky Mountain Surety

PERSONAL FINANCIAL STATEMENT YOU MAY APPLY FOR A SURETY CREDIT EXTENSION INDIVIDUALLY OR JOINTLY WITH A CO-APPLICANT. THIS STATEMENT AND ANY APPLICABLE SUPPORTING SCHEDULES MAY BE COMPLETED JOINTLY

How to fill out personal financial statement

How to fill out personal financial statement?

1. Gather all necessary documents: Start by collecting all the relevant financial documents such as bank statements, investment statements, loan statements, credit card bills, tax returns, and any other documents that provide a clear picture of your financial situation.
2. List your assets: Begin by listing all your assets, including cash, savings accounts, stocks, bonds, real estate, vehicles, retirement accounts, and any other valuable possessions. Be sure to include the current value of each asset.
3. Calculate your liabilities: Next, identify and list all your liabilities such as credit card debt, student loans, mortgages, car loans, and any other outstanding debts. Include the exact amounts you owe for each liability.
4. Determine your net worth: Calculate your net worth by subtracting your total liabilities from your total assets. This will give you a snapshot of your overall financial standing.
5. Provide detailed income information: Outline all sources of income, including wages, salary, self-employment income, rental income, investment income, and any other regular sources of cash flow. Specify the amounts and frequency of each income source.
6. List your monthly expenses: Detail your monthly expenses such as housing costs, transportation expenses, utilities, groceries, insurance premiums, healthcare expenses, entertainment, and any other expenses you regularly encounter. Make sure to be as accurate as possible.
7. Include additional financial information: Mention any other relevant information that affects your financial situation, such as outstanding legal costs, pending lawsuits, or any financial obligations you may have as a guarantor or cosigner.
8. Review and verify: Carefully review all the information you have provided in your personal financial statement. Double-check for errors and ensure that all figures are accurate. It is crucial to maintain honesty and transparency when filling out this statement.

Who needs a personal financial statement?

1. Individuals applying for loans: Financial institutions often require borrowers to submit a personal financial statement when they apply for loans, whether it's a mortgage, business loan, or personal loan. This statement helps lenders assess the borrower's creditworthiness and ability to repay the loan.
2. Business owners and entrepreneurs: When starting or expanding a business, business owners may need to provide a personal financial statement to lenders or investors. This statement helps establish the owner's financial stability and provides insight into their personal assets and liabilities.
3. High-net-worth individuals: People with substantial wealth often need personal financial statements to keep track of their assets, liabilities, and net worth. This statement helps them monitor their financial health, make informed decisions, and plan for the future.
4. Professionals seeking employment in the financial industry: Certain financial positions may require candidates to provide a personal financial statement as part of their job application process. This requirement ensures that individuals handling financial matters have a good understanding of personal finance principles.

In summary, filling out a personal financial statement involves gathering financial documents, listing assets and liabilities, calculating net worth, providing detailed income and expense information, and reviewing the statement for accuracy. This statement is needed by individuals applying for loans, business owners, high-net-worth individuals, and professionals in the financial industry.

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?

Certain individuals such as government officials, candidates running for office, and individuals applying for loans may be required to file a personal financial statement.

How to fill out personal financial statement?

To fill out a personal financial statement, individuals must gather information about their assets, liabilities, income, and expenses and provide this information in the required format.

What is the purpose of personal financial statement?

The purpose of a personal financial statement is to provide a clear overview of an individual's financial health and to ensure transparency and accountability.

What information must be reported on personal financial statement?

Information such as assets, liabilities, income, expenses, and other financial details must be reported on a personal financial statement.

How can I manage my personal financial statement directly from Gmail?

The pdfFiller Gmail add-on lets you create, modify, fill out, and sign personal financial statement and other documents directly in your email. Click here to get pdfFiller for Gmail. Eliminate tedious procedures and handle papers and eSignatures easily.

Can I sign the personal financial statement electronically in Chrome?

Yes, you can. With pdfFiller, you not only get a feature-rich PDF editor and fillable form builder but a powerful e-signature solution that you can add directly to your Chrome browser. Using our extension, you can create your legally-binding eSignature by typing, drawing, or capturing a photo of your signature using your webcam. Choose whichever method you prefer and eSign your personal financial statement in minutes.

How do I edit personal financial statement on an Android device?

You can edit, sign, and distribute personal financial statement on your mobile device from anywhere using the pdfFiller mobile app for Android; all you need is an internet connection. Download the app and begin streamlining your document workflow from anywhere.