Personal Statement Template

It is a good practice for every individual to consider a personal statement to track his own financial situation. Like every business, whether big or small, a financial statement records the financial status of the entity. Hence, an individual with a personal statement can always have a financial reference of his financial status.

A personal statement can be very simple and straightforward in its structure and format. It records the financial transactions of the individual to reflect and confirm the individual’s financial health. A financial statement is usually compiled for the year but for an individual, it is best to track the individual transactions immediately before losing track.

There are only 2 basic sections of information in a personal statement; namely, income and liabilities. Income records the flow in of assets while liabilities refer to the debt incurred or outstanding.

The personal statement template may contain:

* Individual’s Name

* Personal statement date

* Income

* Savings account

* Checking account

* Deposits

* Stocks & bonds

* Insurances

* Real estate

* Retirement funds

* Personal property

* Liabilities

* Current debt

* Notes Payable

* Taxes Payable

* Mortgages

* Total Assets

* Total Liabilities

Although it may be a personal statement which simply reflects the individual’s assets and liabilities, it is a good practice to keep a personal statement to ensure that the financial status of the individual is monitored to avoid possible adverse financial condition.

Consider the attached sample template for your convenience.

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