Free Personal Financial Statement Template

In this task, you will identify and document all sources of income that contribute to your personal finances. This includes any regular paychecks, freelance work, investments, or other forms of income. By documenting your sources of income, you will have a clear understanding of how much money you have coming in each month, which is essential for creating a comprehensive personal financial statement. What are the different sources of income that you receive?

Here, you will collect and document information on all your monthly expenses. This includes recurring bills, rent or mortgage payments, groceries, transportation costs, entertainment expenses, and any other regular expenses that you have. By documenting your monthly expenses, you will be able to understand where your money is going and make informed decisions about your spending habits. What are your monthly expenses?

In this task, you will consolidate and document information on all your debts. This includes credit card debts, loans, mortgages, and any other outstanding debts that you have. By documenting your debts, you will have a clear picture of your financial liabilities and can plan strategies to pay them off. What are your outstanding debts?

Here, you will define and document your financial goals. This includes short-term goals such as saving for a vacation, medium-term goals such as buying a house, or long-term goals such as retirement planning. By documenting your financial goals, you can create a roadmap to achieve them and track your progress over time. What are your financial goals?

In this task, you will calculate your net worth. Net worth is the difference between your assets (such as cash, investments, and property) and your liabilities (such as debts and loans). By calculating your net worth, you will have a measure of your overall financial health and can assess your progress over time. What is your net worth?

Here, you will calculate your disposable income. Disposable income is the amount of money you have available to spend or save after deducting taxes and necessary expenses. By calculating your disposable income, you can make informed decisions about your spending and saving habits. What is your disposable income?

In this task, you will calculate your savings rate. Savings rate is the percentage of your income that you save. By calculating your savings rate, you can evaluate your ability to save money and make adjustments to reach your financial goals. What is your savings rate?

In this task, you will identify your spending habits. This includes analyzing your expenses to understand where your money is going and identifying any areas where you may be overspending. The goal is to gain insights into your spending patterns and make informed decisions about where to cut back or allocate more funds. What are your top three spending habits?

In this task, you will compare your income with your expenses. This is an important step in assessing your financial health and identifying any areas where you may need to adjust your spending or increase your income. The goal is to ensure that your income is sufficient to cover your expenses and allow for savings. Do you have all the necessary income and expense information to complete this task?

In this task, you will copy the completed financial statement to the template. The financial statement includes all the information gathered and calculated so far, such as income, expenses, debts, net worth, and savings rate. The goal is to have a consolidated document that provides a comprehensive overview of your financial situation. Have you completed all the previous tasks and gathered all the necessary information?

In this task, you will reassess the financial statement if needed. Financial situations can change over time, so it's important to regularly review and update your financial statement. The goal is to ensure that the statement remains accurate and reflects your current financial situation. Are there any significant changes in your income, expenses, or debts since the last assessment?

In this task, you will save and secure the final version of your financial statement. It's important to keep your financial information safe and confidential. The goal is to have a secure and accessible copy of your financial statement that you can refer to whenever needed. Where do you plan to save and store the final version of your financial statement?

In this task, you will share the financial statement with relevant parties. This could include your spouse, financial advisor, or anyone else who needs to be aware of your financial situation. The goal is to keep everyone informed and involved in the financial decision-making process. Who are the relevant parties you plan to share the statement with?

In this task, you will implement changes based on the financial statement. The financial statement provides a clear picture of your financial situation and can help identify areas where adjustments may be needed. The goal is to take action on the insights gained from the statement and make any necessary changes to improve your financial health. What are the top three changes you plan to implement?

In this task, you will schedule a date for the next financial statement update. Regularly updating your financial statement is crucial for staying on top of your finances and making informed decisions. The goal is to set a reminder for yourself to review and update your financial statement at regular intervals. When do you plan to perform the next financial statement update?