Get Form PFS (Personal Financial Statement) Instruction Guide

A personal financial statement shows the individual's net worth—their assets minus their liabilities—which reflects what that person has in cash if they sell all their assets and pay off all their debts. If their liabilities are greater than their assets, the financial statement indicates a negative net worth.

A personal financial statement is a snapshot of your personal financial position at a specific point in time. It lists your assets (what you own), your liabilities (what you owe), and your net worth. To get your net worth, subtract liabilities from assets.

A personal financial statement is a spreadsheet that details the assets and liabilities of an individual, couple, or business at a specific point in time.

What Is a Personal Financial Statement? A personal financial statement, or PFS, is a document or set of documents that outlines a person or family's financial position. The balance sheet portion of a PFS exhibits your assets and liabilities, or net worth.

When it comes to long-term financial planning, preparing a Personal Financial Statement (PFS) is one of the best ways to assess your current situation and keep yourself on track to meet goals. The PFS is a relatively simple document that lists what you own (assets) and what you owe (liabilities).

It will help you to get a clear idea of the cost to run your home. Filling in the Financial Statement template. ... Enter your personal details. ... Enter your income. ... Enter your expenditure totals. ... Calculate how much you have left for all debts. ... Enter your debt details. ... Calculate how much you have left for secondary debts.

A personal financial statement is a snapshot of your personal financial position at a specific point in time. It lists your assets (what you own), your liabilities (what you owe), and your net worth. To get your net worth, subtract liabilities from assets.

How to Fill Out a Personal Financial Statement in 8 Simple Steps General Information. ... Asset Information. ... Liability Information. ... Income Sources. ... Contingent Liabilities. ... Life Insurance. ... Read Authorization Statements. ... Review.