Professionally prepared personal financial statements can be required to admit in many different situations, such as various financial transactions; working out estate, retirement, or other financial plan; making a guarantee; identifying the property before signing the marriage contract or under a divorce proceeding; running for a public office; or, of course, obtaining a loan. In my current financial situation, I am considering obtaining a student loan to pay for my future studies and meet my financial needs. In this very situation I will have to provide a clear financial statement of my current assets and liabilities. This will give the bank the precise information on what kind of borrower I am.

I would like to apply for

If I do not succeed, I will apply for a student loan for up to 5,000. In my financial situation I have a high chance of getting the loan as I have positive net worth of 8,000, which is higher than the amount of loan to be requested. This implies that in case of my failure to repay the loan I do have necessary assets to cover it.
From this experience of monitoring my personal financial situation I understood the importance for every individual to realize one's budget and liabilities. As time passes on, I will make sure to make annual estimations of my finances and to base my future decisions, such as purchasing real estate or making investments, on my current financial position so that to increase my net worth.