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

Retiring early

Working part-time instead of full-time

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