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Personal Balance Sheet

The Power of the Personal Balance Sheet

by Skills.Money
in Blog, Personal Finance
Reading Time: 3 mins read
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A balance sheet is a financial statement that takes a point-in-time picture of the company’s financial state by listing all assets owned, and all liabilities owed. The other important financial statement is an income statement.

Similarly, a personal balance sheet is an applicable financial statement used to calculate an individual’s net worth.

A personal balance sheet is a tool that helps you track your spending. It is a great way to understand where your money goes and how you can save more.

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