Get the free Personal Financial Statement - Summit Leasing

SUMMIT LEASING, INC. 3901 Fairbanks Ave., Yakima, WA 98902 Mail: P.O. Box 7, Yakima, WA 98907-0007 (509) 575-4425 (800) 736-1530 Fax: (509) 453-3798 www.summitleasing.com PERSONAL FINANCIAL STATEMENT

How to fill out personal financial statement

How to fill out personal financial statement:

1. Gather all relevant financial documents such as bank statements, investment statements, tax returns, and loan documents.
2. Start by filling out the personal information section which includes your name, address, contact information, and social security number.
3. List all your assets including cash, investments, real estate, vehicles, and any other valuable possessions. Provide accurate valuations for each asset.
4. Detail all your liabilities such as credit card debts, mortgages, student loans, and any other outstanding loans. Include the outstanding balance and monthly payment for each liability.
5. Calculate your net worth by subtracting your total liabilities from your total assets.
6. Provide information about your income sources including salary, bonuses, self-employment income, rental income, or any other income streams. Specify the frequency and amount of each income source.
7. Detail your expenses by listing categories such as housing, transportation, utilities, food, healthcare, education, entertainment, and other miscellaneous expenses. Be as accurate as possible and consider both monthly and annual expenses.
8. Calculate your net income by subtracting your total expenses from your total income.
9. Summarize your financial goals, both short-term and long-term, and explain how you plan to achieve them.
10. Review the entire statement for accuracy and completeness before signing and dating it.

Who needs a personal financial statement:

1. Individuals applying for loans: Banks and financial institutions often require a personal financial statement to assess an individual's creditworthiness and ability to repay the loan.
2. Business owners: Entrepreneurs and business owners may need a personal financial statement when seeking business loans or investments. This helps lenders or investors evaluate the owner's personal financial situation as it may impact the business.
3. Job applicants: Certain positions, especially those in finance or accounting, may require candidates to submit a personal financial statement as part of their application process. This is done to evaluate the candidate's financial responsibility and potential conflicts of interest.
4. Individuals seeking financial planning or investment advice: A personal financial statement can serve as a starting point for financial advisors to understand an individual's current financial situation and provide appropriate recommendations for wealth management, retirement planning, or investment strategies.

Remember, personal financial statements are confidential documents, so ensure they are stored securely and only shared with authorized individuals or organizations when necessary.

For pdfFiller’s FAQs

What is personal financial statement?

A personal financial statement is a document that outlines an individual's financial position by detailing their assets, liabilities, income, and expenses.

Who is required to file personal financial statement?

Certain public officials and employees may be required to file personal financial statements, depending on the laws and regulations of their jurisdiction.

How to fill out personal financial statement?

To fill out a personal financial statement, individuals typically gather information on their assets (such as bank accounts and property), liabilities (such as debts and loans), income sources, and expenses.

What is the purpose of personal financial statement?

The purpose of a personal financial statement is to provide a snapshot of an individual's financial situation, which can be useful for making financial decisions, applying for loans, or assessing financial health.

What information must be reported on personal financial statement?

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

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