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Updated over 5 years ago,

User Stats

26
Posts
22
Votes
Cameron Lee Brown
  • Rental Property Investor
  • Kingsport, TN
22
Votes |
26
Posts

How personal should my personal financial statement be?

Cameron Lee Brown
  • Rental Property Investor
  • Kingsport, TN
Posted

When working with lenders, it is often required that you provide a personal financial statement including gross income, expenses, net worth, etc. For personal use, these should be as detailed as possible so that you can understand your complete financial picture as accurately as possible. I guess my question is, how detailed should the version of my financial statement be that I give to banks and potential sources of private money? For more personal expenses like going to the movies or going out to eat, do you typically just group those into a miscellaneous category for the lender? How much detail is too much?

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