Personal Financial Statement Template

In this task, you will identify and define your financial goals. Consider what you want to achieve in the short term and long term. Are you saving for a down payment on a house? Planning for retirement? Travelling the world? Think about the impact these goals will have on your overall financial health and wellbeing. What steps can you take to reach these goals? Use the form field below to list your financial goals.

In order to accurately assess your financial situation, it is important to gather all relevant financial documents. This includes bank statements, investment account statements, credit card statements, loan statements, and any other documentation related to your financial health. Use the form field below to list the documents you need to gather.

This task involves collecting details of all your assets. Assets include cash, savings accounts, investments, real estate, vehicles, and any other valuable items you own. Take inventory of your assets and fill in the form fields below with the relevant details.

To determine your net worth, you need to calculate the total value of your assets. Add up the values of all the assets you listed in the previous task and enter the total in the form field below.

In this task, you will collect details of all your liabilities. Liabilities include mortgages, credit card debt, student loans, car loans, and any other debts you owe. Fill in the form fields below with the relevant details of your liabilities.

To determine your net worth, you need to calculate the total value of your liabilities. Add up the values of all the liabilities you listed in the previous task and enter the total in the form field below.

Now that you have the total values of your assets and liabilities, you can calculate your net worth. Subtract the total value of liabilities from the total value of assets and enter the result in the form field below.

In this task, you will identify all your sources of income. This includes salary, rental income, dividends, interest, and any other regular sources of income. Fill in the form fields below with the relevant details of your income sources.

To effectively manage your finances, it is important to know your total monthly income. Add up the values of all the income sources you listed in the previous task and enter the total in the form field below.

In this task, you will list all your monthly expenses. This includes rent/mortgage payments, utility bills, groceries, transportation costs, entertainment expenses, and any other regular expenses. Fill in the form fields below with the relevant details of your monthly expenses.

To effectively manage your finances, it is important to know your total monthly expenses. Add up the values of all the monthly expenses you listed in the previous task and enter the total in the form field below.

Disposable income is the amount of money you have left after subtracting your monthly expenses from your monthly income. This is the money you have available for saving, investing, or additional spending. Subtract the total monthly expenses from the total monthly income and enter the result in the form field below.

Now that you have assessed your financial situation, it's important to review your financial goals. Consider whether your current financial status is aligned with your goals. Are there any adjustments you need to make? Use the form field below to evaluate and update your financial goals.

Based on your review of your financial goals and current financial status, you may need to implement changes. This could involve adjusting your spending habits, reducing expenses, increasing savings, or exploring new opportunities for income. Use the form field below to document any changes you plan to implement.

In this task, you will formulate a plan for achieving your financial goals. Consider the changes you need to implement, the steps you need to take, and the timeline for reaching your goals. Use the form field below to outline your plan.

Now that you have gathered all the necessary information and made any updates or adjustments, it's time to prepare your final personal financial statement. This statement will provide a snapshot of your current financial position and serve as a reference point for future assessments. Use the form field below to prepare your statement.

This task involves printing and filing your final personal financial statement for easy access and reference. Make sure to keep it in a secure and organized location. Once you have printed and filed the statement, mark this task as complete.

Maintaining a current and accurate personal financial statement is crucial for effective financial management. Regularly monitor and update your statement as your financial situation evolves. Use the form field below to note down the frequency and method of updating your statement.