Personal Financial Statement

A document or spreadsheet outlining an individual's financial position at a given point in time. A personal financial statement will typically include general information about the individual, such as name and address, along with a breakdown of their total assets and liabilities. Assets would include any account balances in checking or savings accounts, retirement account balances, trading accounts and real estate. Liabilities would cover items such as credit card balances, loans and mortgages.

Personal financial statements are most often used when an individual is applying for credit, such as loans or a mortgage. The financial statement allows credit officers to easily gain perspective into the applicant's financial situation in order to make an informed credit decision.


Investment dictionary. . 2012.

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