Fill Out Personal Financial Statement Online

What is a personal financial statement

A personal financial statement summarizes your financial condition as of a specific date. The core of the document is a balance sheet: total assets minus total liabilities equals net worth. An income section shows your annual earnings from all sources, and a contingent liabilities section discloses debts that could become yours, such as loans you have co-signed.

Unlike a credit report, which is compiled by a bureau, a personal financial statement is prepared and certified by you. The signed certification at the bottom states that the information is true and complete, which is why accuracy matters: a materially false statement given to a lender can have serious legal consequences.

When you need a personal financial statement

The most common trigger is a loan application. Banks and private lenders ask for a personal financial statement when underwriting business loans, commercial real estate loans, and personal guarantees, and they often ask for updated statements annually while a loan is outstanding.

Other situations include applying to lease commercial space, negotiating with creditors, estate and divorce proceedings, and personal planning. Preparing one periodically is also a straightforward way to track your own net worth over time.

What to include in each section

Work category by category and value everything as of the statement date at the top of the form.

• Assets: cash and bank balances, savings, retirement accounts, securities, money owed to you, life insurance cash value, real estate, vehicles, business interests, and personal property, all at current market value.
• Liabilities: credit card balances, auto loans, mortgage balances, student loans, personal loans, unpaid taxes, and other unpaid bills, at current payoff amounts.
• Income: annual salary and wages, self-employment income, investment income, retirement income, and other income sources.
• Contingent liabilities: co-signed or guaranteed loans and pending legal claims, which are not yet debts but could become them.
• Net worth: total assets minus total liabilities, computed at the bottom of the form.

How to fill out the template

Start with the statement date and your personal information, and mark whether the statement is individual or joint. A joint statement with a spouse should include both parties' assets and debts, and both should sign.

Then complete each dollar line in the Universal PDF editor. Use realistic current market values rather than purchase prices for assets, and current balances rather than original amounts for debts. Add each section, carry the totals into the net worth section, and double-check that total assets minus total liabilities equals the net worth figure you entered before downloading the PDF.

Accuracy and the certification

The certification paragraph above the signature states that the information is true, complete, and correct to the best of your knowledge, and that the recipient may rely on it. Sign and date only after you have verified the numbers against statements from your bank, brokerage, and lenders.

If your finances change materially while a lender is still relying on the statement, the certification commits you to notifying them in writing. Keep a copy of every statement you deliver, along with the account statements you used to prepare it, so you can support the numbers later.

Common mistakes to avoid

Lenders review these statements carefully, and avoidable errors slow down approvals.

• Using purchase prices instead of current market values for real estate and vehicles.
• Listing the face value of life insurance instead of its cash surrender value.
• Omitting contingent liabilities such as co-signed loans, which lenders treat as required disclosures.
• Arithmetic errors in the totals or a net worth line that does not equal assets minus liabilities.
• Leaving the statement date blank, which makes every value on the page ambiguous.