ARE YOU READY TO DO YOUR BALANCE SHEET?

This tool will help you do an inventory of your assets, i.e., what you own - home, car, investments, etc. - and your liabilities, i.e., what you owe - loans, credit card balances, etc., at a specific point in time. The difference between your assets and your liabilities is what you're worth, your capital.

Depending on your situation, you can prepare your balance sheet once a year or quarterly. It is often a prerequisite for submitting a loan application, and it enables you to check changes in your net worth when you review it on a regular basis.

In drawing up your balance sheet, be sure to identify all your property and be realistic about its value. Then note all the loans you have taken out and enter the amount to be repaid.

 
My assets (the things I own) My liabilities (the things on which I owe money)
Bank Accounts
Chequing Account
Savings Account
Personal debts
Credit cards
Line of credit
Personal loan
Car loan
Mortgage loan
Tax payment
Loan for investment
Other debts
Investments

RRSP
Term investments
Bonds
Stocks
Mutual funds
Other investments

Excluding RRSP
Term investments
Bonds
Stocks
Mutual funds
Other investments
Other retirement savings plans

Personal goods (resale value)
Home, property, cottage
Car
Other

Submit to know your riches