![]() These are values that come from the Details worksheet. Watch out for the cells that are highlighted gray. Your financial assets are your cash, savings, checking account balances, real estate, pensions, etc. You may really love your pet rock, but it's probably not an asset. The Personal Balance Sheet Step 1: List all your AssetsĪn asset is something that you own that has exchange value. But, if you are already maintaining your own PFS in Excel, then that will make the process MUCH easier. If you are applying for loans, banks will likely have their own personal financial statement (PFS) forms for you to fill out (I've linked to a couple in the references at the bottom of this page). They can get that information from your personal financial statement. One of the ways they do that is by analyzing your income and how much debt you currently have. Why is a PFS useful for creating and evaluating a budget?Ī lender needs to evaluate the risk of lending money to you. The higher this ratio the less financial flexibility you have.
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