Sometimes life throws you a curveball, and you find yourself in a financial jam that requires some quick cash. Taking a loan from your 401(k) plan sounds like an easy solution. After all, you’ll be borrowing from your own retirement account and paying yourself back with interest. Sounds reasonable enough, right? Not always.
Similar to a company’s financial statements, a personal financial statement can help you assess your financial health and assist you in budget planning. It can also give you an idea of the kinds of information that banks and other lenders use to determine your ability to repay loans. Curious to know where you stand? Here, we show you how to get a handle on your finances by creating a personal