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Download this Income Statement and Balance Sheet Template that is designed to assist anyone in creating their own financial plan. In completing this form, one would be able to set financial goals and get a better idea of how to accomplish the goals they would wish to achieve. Complete the sheet and see how you will improve your short term and long term financials.

How To Write

Step 1- Section 1 – Personal Cash Flow Statement – Cash Inflow

  • Begin by completing the current month’s cash flow. Enter the following income amounts:
  • Disposable Income (after tax)
  • Interest on Deposits
  • Dividend Payments
  • Any Other Income (total)
  • Calculate Cash Flows and Enter the Total in the Final Line in This Section

Step 2 – Section 2 – Cash Outflow –

  • Enter the following expenditures:
  • Rent/Mortgage Amounts
  • Cable TV
  • Water and Electricity
  • Telephone
  • Groceries
  • Health Care Ins. and Expenditures
  • Clothing
  • Auto Expenses
  • Recreation
  • Any Other Expenditures
  • Calculate Cash Flows and Enter That Figure
  • Calculate Net Cash Outflow – total ash inflows then subtract total cash outflows to get your Net Cash Flows amount – enter that figure in the Net Cash Flow total line

Step 3 – Section 3 – Personal Balance Sheet –

Assets –

  • Begin the preparation of your personal balance sheet by focusing on assets, first being liquid assets enter the following financial figures into the appropriate blocks:
  • Cash
  • Checking Account
  • Savings Account
  • Other Liquid Assets
  • Calculate Total Liquid Assets and Enter that Number into the Total Liquid Assets line

Household Assets –

  • Enter the values for the following:
  • Home
  • Car
  • Furniture
  • Other Household Assets
  • Calculate All Household Assets and Enter that Figure into the Total Household Assets Line

Investment Assets –

  • Review and Enter Any Investment Assets –
  • Stocks
  • Bonds
  • Mutual Funds
  • Any Other Investments
  • Calculate and Total Investment Assets and Enter that Figure into The Total Investment Assets Line

Real Estate –

  • Enter the real estate financial information into the appropriate boxes:
  • Residence
  • Vacation Home
  • Any Other Real Estate Property Owned (rentals etc.)
  • Calculate All Real Estate Values And Place Totals in the Total Real Estate Line

Total Assets –

  • Calculate all total asset figures and make a note of that amount

Step 4 – Section 4 – Liabilities and Net Worth

  • In this section all current and long term liabilities will be examined and totaled. Begin by reviewing current liabilities as follows:
  • Loans
  • Credit Card Balances
  • Other Current Liabilities
  • Calculate and Place the Total in the Total Current Liabilities Line

Long Term Liabilities –

  • Mortgage
  • Car Loan
  • Other Long Term Liabilitie
  • Calculate and Place the Total in the Total Long Term Liabilities Line

Total Liabilities –

  • Calculate all total liability figures and make a note of that amount

Net Worth –

  • Calculate total assets and subtract total liabilities. Place that figure in the Net Worth Line

Step 5 – Section 5 – Personal Financial Goals –

  • In this section the user will decide personal financial goals and how to potentially achieve the goals. There are three sections in the Financial Goals Block, complete them according to your decisions and enter all information:
  • Short Term Goals
  • Intermediate Term Goals
  • Long Term Goals
  • Remember to include how much savings you must acquire to meet these goals as well as the number of years it will take with your current financial situation.

Step 6 – Section 6 – Decisions –

Take some time to think about the following two questions in section 6 and answer them in writing. If they are extensive answers, feel free to provide additional sheets