A banker wants to see your financial statement—your report card when you leave school
Personal Financial Statement: What is it?
A personal financial statement is a detailed view of a person’s financial state at a certain point in time. This statement is typically used to demonstrate a person’s credit worthiness or financial stability. This can help the person to get financing or a loan, such as an auto loan, credit cards, or mortgage. It is similar to a credit report.
The statement will include personal information including full name, address, and an identification number, typically a driver’s license number or a social security number. It will include a list of assets and liabilities. It will show all income and their sources and all debts and to whom is owed.
Personal financial statements are often requested by loan companies when a person applies for a loan.