Ease your fund management journey with tools and tech

Every month we make some financial commitments to control the expenditure. It is only at the end of the month that we realize we are already broke. At the end of the month, many people are startled to see that they have spent way more than anticipated. It can be due to various reasons.


However, to avoid this, there are various means. Maybe one can not altogether avoid it, but there are means to reduce these overheads for sure. Since this is the age of digitalization, we have got this solution somewhere around tech and digital mediums. 

Now there is the convenience of having a personal financial statement software that can be used on various fronts.


However, to use the software, first of all, one should know what is personal finance management. It is way beyond just finding the means to cut down the expenses. 


  • Creating Personal financial statements involves a basic accounting technique for income and spending that might help you keep track of all your funds.


  • Like those used by companies and corporations, financial statements provide you a clear idea of your financial situation. It can also help you to plan your budget effectively. Personal financial statements are divided into two categories:

  1. Cash flows

  2. Balance sheet


However, the data needs to be all clarified and crisp. To do this, one needs to follow a proper format. 

Your personal financial statement software can do this for you, but you, too, need the proper knowledge.


It follows a standard structure. On the left, assets are placed, while on the right are liabilities (like balance sheet). The right-hand side of the statement also shows your net worth.

You can also follow these steps:


  • Begin by compiling a list of your assets and obligations. 

People who read your financial statement understand that it is merely a snapshot of your net worth at a specific point in time. Use the up-to-date information, but don't worry if any documents are a few weeks old. Your lender recognizes that some of this data is continuously changing.


  • Run a credit report on yourself. When you seek a loan, the lender will probably do so, and you never know what they'll uncover. So make sure that you are clear and all the data is correct and updated.


These are the basic steps, to begin with, the financial analysis for personal use. 


As and when you grow, the figures will also increase, and there will be a point where you will need aid to manage the funds. So it is better to start with a personal financial statement software at the earliest.

The earlier you start, the better it gets!




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