Personal Financial Statement Template

Free Personal Financial Statement Template

A personal financial statement template is a spreadsheet that summarises an individual’s financial situation over a specified time period. This spreadsheet typically contains both personal and financial information about an individual, such as his name, address, a breakdown of his total assets and liabilities, as well as his total income and expenses.

This template can be immensely useful in tracking the individual’s overall wealth, and the same is mostly taken into use when an applicant seeks to apply for a bank loan. It comprises of all the assets owned and liabilities owed by an individual. This statement may or may not include the income and expenses of an individual.

Personal Financial Statement Excel Template

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Personal Balance Sheet

Understanding Personal Finance Statement Template

The Personal financial statement template comprises of the income statementIncome StatementThe income statement is one of the company's financial reports that summarizes all of the company's revenues and expenses over time in order to determine the company's profit or loss and measure its business activity over time based on user more and balance sheetBalance SheetA balance sheet is one of the financial statements of a company that presents the shareholders' equity, liabilities, and assets of the company at a specific point in time. It is based on the accounting equation that states that the sum of the total liabilities and the owner's capital equals the total assets of the more of an individual where all his or her expenses borne and income earned along with the total of all his or her assets and liabilities are provided. This template of an individual also provides his or her general personal information like name, address, contact details, etc.

#1 – Income Statement

#2 – Personal Balance Sheet

How to use this Template?

  • The template provided above can be used by an individual where he or she can input all his or her personal details like name, contact number, address, time-period, etc. After filling up all the required information, an individual can fill in the actual amount borne as expenses and earned as an income in the income statement account.
  • Once all the entries are passed, he or she must total all the expenses and income and calculate the difference between the two and based upon the results derive whether he or she has earned a profit or a loss for that stipulated time period. Once the net income/loss for the period is ascertained, an individual must proceed with the balance sheet.
  • He or she must provide the date and then proceed with filling up the actual figures of all sorts of his or her assets and liabilities. Once the figures are incorporated, he or she must tally the total assets with that of total liabilities and accordingly check if the total of both the balances is the same or not. If the balance does not tally, then he or she must recheck and make the necessary rectifications to ensure that the balance sheet is accurate.

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This has been a guide to Personal Financial Statement Template. Here we provide you with a free template to prepare the income statement and balance sheet of an individual. Also, you can download and use this template in Excel, Google Sheets, or CVS format.

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