Personal financial statement: assets, debts and net worth
A personal financial statement records what you own and owe at a stated date. A net worth statement focuses on assets minus liabilities. A recipient may also require income, contingent liabilities, supporting documents or its own form. wlthy consolidates the assets and debts recorded in your ledger into a Wealth Statement; it does not independently confirm those figures.
Illustrative USD example — not an issued report
- Total assets
- $600,000
- Total liabilities
- $180,000
- Net worth
- $420,000
List the valuation date, reporting currency, ownership share and source of each figure. Net worth includes illiquid assets; it is not proof that cash is available.
For example, the US Small Business Administration requires its own Personal Financial Statement (Form 413) for certain programs. A wlthy report is not a completed Form 413, a CPA attestation or a bank-issued proof-of-funds letter. Ask the recipient what it accepts.
Ask about a sample Wealth Statement and your reporting requirements