All About the Personal Financial Statement
That’s where a personal financial statement comes in.
By keeping tabs on your finances, you can create a secure and fulfilling future.
At its core, a personal financial statement offers an overview of where you stand financially at any point in time.
It can help you succeed in various aspects of your life.
Why You Need a Personal Financial Statement
There are several reasons you may want to create a personal financial statement. It can help you if you’d like to:
Take out a loan
Apply for financial aid
Make a guarantee
Design financial plans
Lease a commercial office
and your assets are greater than your liabilities.
Ideally, your personal financial statement will show that you have a positive net worth,
How a Personal Financial Statement Can Change Your Money Habits
When you see your net worth, you’ll realize that many of your previous and future behaviors affect that figure.
A high, positive net worth, for example, may mean that you’re closer to your dream of:
Buying a dream home
Working part-time instead of full-time
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