Hanoi-Vietnam: Personal financial balance sheet

17:57, 11/07/2024

In Vietnam, effective financial management is something every individual aspires to achieve. To record expenses/incomes and evaluate the efficiency of one's financial management, the creation of a financial balance sheet is practical and meaningful. By looking at it, you can master expenses and incomes throughout the year and the remaining amount at the end of the year.

Firstly, you must create a personal financial balance sheet for yourself with the following content:

PERSONAL FINANCIAL BALANCE SHEET

ASSETS		LIABILITIES AND NET WORTH
LIQUID ASSETS		SHORT-TERM LIABILITIES
Cash		Credit card debt
Demand deposit accounts		Unpaid bills
Margin accounts		Other short-term debts

Incremental assets		Long-term liabilities
Term deposit accounts		Mortgage payments
Bonds		Car loan payments
Pension funds
Stocks
Credit unions		TOTAL LIABILITIES
Business
Intellectual property
Insurance
DEPRECIABLE ASSETS		NET WORTH: Total Assets – Total Liabilities
Car value
Club membership fees
TOTAL ASSETS		Total liabilities and net worth

By looking at the financial balance sheet, you can assess your current wealth or poverty by comparing your existing assets to total liabilities or even more accurately know whether your assets are increasing or depreciating.

Secondly, you must list your income and expenses to master the remaining amount at the end of the year.

ANNUAL PERSONAL INCOME SHEET

INCOME
ACTIVE		PASSIVE
Salary		Dividends
Pension		Royalties
Bonus		Interest
Allowances		Business Profit
Commission		Rent

Total income

EXPENSES
Individual		House
Food		Loan payments
Clothing		Utilities (electricity, water, gas)
Telephone		Housemaid services
Entertainment		Household items
Health Insurance		Property Tax
Personal Income Tax		Housing Insurance
Miscellaneous		Total housing costs
Total personal expenses

Children		Transportation
Education		Car loan payments
Allowances		Fuel
Clothing, toys		Maintenance costs
Total children expenses		Car Insurance
		Road tax
		Parking fees
		Miscellaneous
		Total traveling expenses

Source: Learning to Get Rich

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

0 lượt xem

- This translation is generated by OpenAI's GPT-4o model;
- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn