Six Important Financial statements Everyone should maintain
On February 25, 2026 By thesuccessmanual Topic: Personal Finance
Personal finance expert Subramaniam lists six essential financial statements that we all can easily and must make. These are:
1. Goals statement: tells you your written financial goals, the path, and the time that it will take to achieve the end result.
2. Income statement: Tells you what you earn – and from where- your business income, dividend income, interest income….etc. Looks easy on paper especially for a person with a salary income, it can be complicated for a business man.
3. Balance sheet: shows the asset and liabilities of a person as on a particular day.
4. Expenses Budget statement: This tells you what expenses you are likely to incur in the next period – say a month, a quarter or a year. It is the estimate that you will incur – the more detailed it is, it is difficult to make.
5. Assets statement: A statement of your assets – mutual funds, shares, life insurance policies….etc.
6. Liabilities statement: a statement of all your loans – auto, home, … and everything else.
Want to read the greatest books of all time but have no time or moneyCheck out The Success Manual. It contains summaries of 200+ greatest business and self-help boooks and much more!
