Personal Financial Statement


Get your FREE personal financial statements:

  • pre-populated with prompts
  • pre-calculated
  • simple to use
  • easy to understand
  • absolutely necessary for all

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Getting your personal financial statement in order is the first step towards financial freedom, but what is it? Let’s uncover what a personal financial statement is and how to get it.

What is a Personal Financial Statement?

A personal financial statement is a document or spreadsheet outlining your financial position at a certain point in time or during specified period of time. There are two specific financial statements:

  • Income Statement,
  • Balance Sheet,

Often times, when a banker or a loan officer asks you for your financials or your financial statement, they are looking for balance sheet in particular.

Balance Sheet

This is a form of a financial statement that includes information regarding your assets (cash, investments, etc.), liabilities (loans, credit card debt), and then provides you with your net worth by calculating the difference between the two (assets minus liabilities). Balance sheet is often used to track overall financial performance during set periods of time, typically annually for individuals. It’s a measurement of how well you are doing and by comparing them over time, you get an insight into how well you are managing your wealth.

To create your own balance sheet, simply add all your assets one the left hand side of the sheet. Then add all the liabilities on the right hand side of the sheet. The difference between the two is your net worth, or how much money you are left with if you paid off all your liabilities.

Income Statement

Income statement is another type of personal financial statement that tracks your income and expenses. It let’s you know whether you are spending more than you earn. While balance sheet shows us overall wealth, income statement tracks how money is coming to us and how it leaves. Basically, it tells you how you earn and pend money. Income statement is very useful in planning our budgets and making sure that we are keeping on track with our spending, saving and investment plans. They are typically done on monthly, quarterly and annual basis.

To create your own income statement, add all your income on the top of the sheet. Then underneath it add all your expenses for the same month. Deduct expenses from your income and you are derived with net income or profit. In instances where your expenses exceed your income, you are left with net loss.

Your personal financial statement

You can easily create your own, but if you are not in the mood of setting up formulas in excel or you are not up to spending time research everything that should be in your statements, do not worry. I have created a excel version of each of these statements for ease and simplicity. The sheets are already pre-populated with formulas and prompts. All you have to do is enter the information and you will have your results within seconds. And the best part is: IT’S FREE!!! And who does not like free?

Simply add it to your cart, check out and use it. And if you find yourself needing more help and guidance, then you’ll want to register for my free course as well: How To Thrive In Any Market Condition