What Is a Personal Financial Statement Template?
A personal financial statement template is a structured document that captures a snapshot of your financial position at a specific point in time. It lists everything you own (assets), everything you owe (liabilities), your monthly income across all sources, and your monthly expenses. The difference between your total assets and total liabilities is your net worth.
Banks, credit unions, and SBA lenders routinely require a personal financial statement when you apply for a business loan, commercial mortgage, or personal line of credit. Even if you are not borrowing money, this document is the foundation of any serious financial plan because it tells you exactly where you stand before making major decisions.
This template also functions as an income statement template and expense tracker in one place, giving freelancers, small business owners, and anyone tracking monthly bills a single spreadsheet that covers both their balance sheet and their cash flow.
- Documents all personal assets including cash, real estate, investments, and retirement accounts
- Lists all liabilities including mortgages, auto loans, student debt, and credit card balances
- Calculates your current net worth as assets minus liabilities
- Tracks monthly income from all sources including salary, self-employment, and rental income
- Captures monthly expenses for accurate cash flow analysis
- Serves as the required format for SBA loan personal financial statement submissions
What to Include in a Personal Financial Statement
A complete personal financial statement covers four sections: assets, liabilities, income, and expenses. Here is what belongs in each section:
- Assets: cash and checking balances, savings and money market accounts, retirement accounts (IRA and 401k current value), brokerage and investment accounts, primary residence market value, other real estate, vehicle values, business ownership interests, and any other significant personal assets
- Liabilities: primary mortgage balance, other mortgage or HELOC balances, auto loan balances, student loan balances, credit card balances, personal loans, any business loans you have personally guaranteed, and other debts
- Net worth calculation: total assets minus total liabilities; this is the single most important number on the document
- Monthly income: gross wages or salary, self-employment or freelance income, rental income, dividend and investment income, and any other recurring income sources
- Monthly expenses: housing costs, utilities, transportation, food, insurance, minimum debt payments, subscriptions and monthly bills, and other regular expenses
- Monthly cash flow: total income minus total expenses; positive means you are living within your means, negative means expenses exceed income
- Signature and date: lenders typically require you to certify the accuracy of the statement under penalty of perjury
How to Complete a Personal Financial Statement
Follow these steps to fill out the template accurately. Being honest and thorough is essential, especially if you are submitting this to a lender.
- Open the template in Google Sheets and make a copy to your own Drive
- Gather recent statements: bank accounts, investment accounts, retirement accounts, mortgage statements, and credit card balances
- Enter the current market value for all assets using recent account statements or appraisals for real estate
- Enter outstanding balances for all liabilities, not the original loan amounts
- Let the template calculate your net worth automatically; review whether the figure looks accurate before proceeding
- Enter your gross monthly income from each source before taxes and deductions
- List all monthly expenses; use your last two to three months of bank statements to get realistic averages
- Review your monthly cash flow; if expenses exceed income, identify which line items can be reduced
- If submitting to a bank or SBA lender, print or export as PDF and sign the statement with the current date
Personal Financial Statement Variations and Related Templates
Depending on your situation, you may need a specific variation of a personal financial statement or a related financial document.
- SBA personal financial statement: the SBA Form 413 is the required format for SBA 7(a) and SBA 504 loan guarantees; this template follows the same structure
- Income statement template: a simplified version focused only on income and expenses for freelancers or side-business owners who need to show monthly or annual P&L
- Cost benefit analysis template: used to evaluate a specific financial decision (buying vs. leasing, investing in equipment) rather than documenting overall financial position
- Monthly bills template: a narrower version that tracks recurring monthly obligations by due date and payment status, useful for bill organizer purposes
- Expense tracker template: a rolling monthly log of all spending by category, helpful for building the expense section of your financial statement
- P&L template: a profit and loss format used by self-employed individuals and small business owners to separate business finances from personal ones
- Financial plan template: a forward-looking document that uses your current personal financial statement as the baseline and projects changes over one to five years
Tips for Accurate Financial Statements
The value of a personal financial statement depends entirely on its accuracy. These are the most common errors to avoid.
- Using original purchase prices instead of current market values for real estate and vehicles: lenders want fair market value today, not what you paid
- Forgetting contingent liabilities: if you co-signed a loan or personally guaranteed a business debt, that obligation belongs in the liabilities section
- Listing gross income instead of verifiable income: use figures that match your tax returns; lenders will cross-reference them
- Omitting retirement accounts: 401k and IRA balances are assets even if they are not liquid, and they belong on the statement
- Not updating the statement regularly: a personal financial statement is only accurate on the date it is prepared; if significant changes occur (selling a property, paying off a loan), update the document
- Rounding up asset values: be conservative and realistic with valuations, especially for business interests and real estate
Copy-and-paste template
Download .xlsxPERSONAL FINANCIAL STATEMENT
Prepared by: [FULL LEGAL NAME]
Date: [DATE]
Purpose: [Loan application / Net worth tracking / Mortgage pre-approval / Personal planning]
SECTION 1 - ASSETS
Cash and checking accounts: $[AMOUNT]
Savings accounts and money market: $[AMOUNT]
Retirement accounts (IRA, 401k): $[AMOUNT]
Brokerage and investment accounts: $[AMOUNT]
Primary residence (market value): $[AMOUNT]
Other real estate: $[AMOUNT]
Vehicles (current value): $[AMOUNT]
Business interests: $[AMOUNT]
Other assets: $[AMOUNT]
TOTAL ASSETS: $[TOTAL]
SECTION 2 - LIABILITIES
Primary mortgage balance: $[AMOUNT]
Other mortgage/HELOC balances: $[AMOUNT]
Auto loan balances: $[AMOUNT]
Student loan balances: $[AMOUNT]
Credit card balances: $[AMOUNT]
Personal loans: $[AMOUNT]
Business loan guarantees: $[AMOUNT]
Other liabilities: $[AMOUNT]
TOTAL LIABILITIES: $[TOTAL]
NET WORTH (ASSETS minus LIABILITIES): $[NET WORTH]
SECTION 3 - MONTHLY INCOME
Gross salary/wages: $[AMOUNT]
Self-employment income: $[AMOUNT]
Rental income: $[AMOUNT]
Investment/dividend income: $[AMOUNT]
Other income: $[AMOUNT]
TOTAL MONTHLY INCOME: $[TOTAL]
SECTION 4 - MONTHLY EXPENSES
Housing (mortgage/rent): $[AMOUNT]
Utilities: $[AMOUNT]
Transportation: $[AMOUNT]
Food and groceries: $[AMOUNT]
Insurance premiums: $[AMOUNT]
Debt payments (min. required): $[AMOUNT]
Subscriptions and bills: $[AMOUNT]
Other monthly expenses: $[AMOUNT]
TOTAL MONTHLY EXPENSES: $[TOTAL]
MONTHLY CASH FLOW (INCOME minus EXPENSES): $[CASH FLOW]
This template is provided for organizational and planning purposes only. It does not constitute financial, tax, or legal advice. Consult a licensed financial advisor or CPA before making financial decisions based on this document.