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Business finance personal statement example.

I want to study finance because it is a fascinating discipline dealing with money, markets and valuation that is relevant to all aspects of business. The financial system is there to make sure that those with good ideas get the money necessary to implement the ideas but finance is also concerned with the relationship between investor expectations about the future and current market values. A long-term career in finance requires certain qualities like decision making, problems solving and abilities to synthesize which in my opinion, I own. Since an early age I have always been determined and self-assured.

After graduating from high school I decided to move to Chicago to study. The finance and economics classes I have taken helped me to go to my finance skills in depth, using a combination of intuitions and analyses. Research papers enhanced my ability to deal with ambiguity in a quick changing environment where things can change from day to day. Furthermore, my involvement in an online certificate in finance gave me the opportunity to be more self-disciplined, organized and learnt me how to look for information in financial reviews like the Economist, the Wall Street Journal or the Financial Times and focus on financial info across different origins. By the way, it was also the beginning of the sub primes crisis and being in this environment allowed me to hear more of the differences between a practical and a theoretical situation. While candidates were running for Presidency, it was very interesting to see how they were debating about the country business reforms like a more federal reform regulation of corporations or the way to help small businesses.

Throughout my work experiences, my internship in a bank has provided the opportunity to work as a team co-operating with others and at the same time being independent. Often, I have been able to work on my own initiative, which I have enjoyed immensely as it has allowed me to use my own ideas and thoughts. Moreover, during high school, I have been twice-elected as a captain and it was a very rewarding experience. By being a spokesperson, my mission was to represent the views of my classmates and it brought me more than I was expected. In fact, those responsibilities taught me how to be more mature, developed my communication skills which are essential in an efficient organization. I have worked on things like music equipment for our common room and changed the suppliers of our lunch menu which resulted in a price-cutting.

Outside of my school life, I really enjoy to travel, sail and read. During high school, I raised 1000 Euros for a school trip in Western Europe by selling handmade cards and also organizing an exhibition about World War II. I also won several boat-races with my team, as competitor is one of my qualities. In my spare time, reading economics biographies and essays about the world of finance is also very pleasant.

With those various experiences in life, I personally believe that my passion and preparation will allow me to succeed in my studies and make career in finance.

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How to Write a Strong Personal Statement

• Ruth Gotian
• Ushma S. Neill

A few adjustments can get your application noticed.

Whether applying for a summer internship, a professional development opportunity, such as a Fulbright, an executive MBA program, or a senior leadership development course, a personal statement threads the ideas of your CV, and is longer and has a different tone and purpose than a traditional cover letter. A few adjustments to your personal statement can get your application noticed by the reviewer.

• Make sure you’re writing what they want to hear. Most organizations that offer a fellowship or internship are using the experience as a pipeline: It’s smart to spend 10 weeks and $15,000 on someone before committing five years and $300,000. Rarely are the organizations being charitable or altruistic, so align your stated goals with theirs
• Know when to bury the lead, and when to get to the point. It’s hard to paint a picture and explain your motivations in 200 words, but if you have two pages, give the reader a story arc or ease into your point by setting the scene.
• Recognize that the reviewer will be reading your statement subjectively, meaning you’re being assessed on unknowable criteria. Most people on evaluation committees are reading for whether or not you’re interesting. Stated differently, do they want to go out to dinner with you to hear more? Write it so that the person reading it wants to hear more.
• Address the elephant in the room (if there is one). Maybe your grades weren’t great in core courses, or perhaps you’ve never worked in the field you’re applying to. Make sure to address the deficiency rather than hoping the reader ignores it because they won’t. A few sentences suffice. Deficiencies do not need to be the cornerstone of the application.

At multiple points in your life, you will need to take action to transition from where you are to where you want to be. This process is layered and time-consuming, and getting yourself to stand out among the masses is an arduous but not impossible task. Having a polished resume that explains what you’ve done is the common first step. But, when an application asks for it, a personal statement can add color and depth to your list of accomplishments. It moves you from a one-dimensional indistinguishable candidate to someone with drive, interest, and nuance.

• Ruth Gotian is the chief learning officer and associate professor of education in anesthesiology at Weill Cornell Medicine in New York City, and the author of The Success Factor and Financial Times Guide to Mentoring . She was named the #1 emerging management thinker by Thinkers50. You can access her free list of conversation starters and test your mentoring impact . RuthGotian
• Ushma S. Neill is the Vice President, Scientific Education & Training at Memorial Sloan Kettering Cancer Center in New York City. She runs several summer internships and is involved with the NYC Marshall Scholar Selection Committee. ushmaneill

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• Personal Finance

Personal Financial Statement: Definition, Uses, and Example

What Is a Personal Financial Statement?

The term personal financial statement refers to a document or spreadsheet that outlines an individual's financial position at a given point in time. The statement typically includes general information about the individual, such as name and address, along with a breakdown of total assets and liabilities . The statement can help individuals track their financial goals and wealth, and can be used when they apply for credit .

Key Takeaways

• A personal financial statement lists all assets and liabilities of an individual or couple.
• An individual's net worth is determined by subtracting their liabilities from their assets—a positive net worth shows more assets than liabilities.
• Net worth can fluctuate over time as the values of assets and liabilities change.
• Personal financial statements are helpful for tracking wealth and goals, as well as applying for credit.
• Although they may be included in a personal financial statement, income and expenses are generally placed on a separate sheet called the income statement.

Understanding the Personal Financial Statement

Financial statements can be prepared for either companies or individuals. An individual’s financial statement is referred to as a personal financial statement and is a simpler version of corporate statements . Both are tools that can show the financial health of the subject.

A personal financial statement shows the individual's net worth —their assets minus their liabilities—which reflects what that person has in cash if they sell all their assets and pay off all their debts. If their liabilities are greater than their assets, the financial statement indicates a negative net worth. If the individual has more assets than liabilities, they end up with a positive net worth.

Keeping an updated personal financial statement allows an individual to track how their financial health improves or deteriorates over time. These can be invaluable tools when consumers want to change their financial situation or apply for credit such as a loan or a mortgage . Knowing where they stand financially allows consumers to avoid unnecessary inquiries on their credit reports and the hassles of declined credit applications.

The statement allows also credit officers to easily gain perspective into the applicant's financial situation in order to make an informed credit decision. In many cases, the individual or couple may be asked to provide a personal guarantee for part of the loan or they may be required to put up collateral to secure the loan.

Special Considerations

A personal financial statement is broken down into assets and liabilities. Assets include the value of securities and funds held in checking or savings accounts , retirement account balances, trading accounts , and real estate. Liabilities include any debts the individual may have including personal loans, credit cards, student loans, unpaid taxes , and mortgages. Debts that are jointly owned are also included. Married couples may create joint personal financial statements by combining their assets and liabilities.

Income and expenses are also included if the statement is used to attain credit or to show someone's overall financial position. This can be tracked on a separate sheet or an addendum, called the income statement . This includes all forms of income and expenses—typically expressed in the form of monthly or yearly amounts.

The following items are not included in a personal financial statement:

• Business-related assets and liabilities: These are excluded unless the individual is directly and personally responsible. So if someone personally guarantees a loan for their business—similar to cosigning —the loan is included in their personal financial statement.
• Rented items: Anything rented is not included in personal financial statements because the assets aren't owned. This changes if you own the property and rent it out to someone else. In this case, the value of the property is included in your asset list.
• Personal property: Items such as furniture and household goods are typically not included as assets on a personal balance sheet because these items can’t easily be sold to pay off a loan. Personal property with significant value, such as jewelry and antiques, may be included if their value can be verified with an appraisal .

Business liabilities are only included in a personal financial statement if an individual provides the creditor with a personal guarantee.

Keep in mind. Your credit report and credit history are big considerations when it comes to getting new credit and every lender has different requirements for issuing credit. So, even if you have a positive net worth—more assets than liabilities—you may still be refused a loan or credit card if you haven't paid your previous debts on time or have too many inquiries on file.

Example of a Personal Financial Statement

Let's assume that River wants to track their net worth as they move toward retirement . They have been paying off debts, saving money, investing , and are getting closer to owning their home. Each year, they update the statement to see the progress they have made.

Here's how they would break it down. They would list all their assets—$20,000 for a car, $200,000 for their house, $300,000 in investments, and $50,000 in cash and equivalents . They also own some highly collectible stamps and art valued at $20,000 that they can list. Their total assets are, therefore, $590,000. As for liabilities, River owes $5,000 on the car and $50,000 for their house. Although River makes all of their purchases with a credit card, they pay the balance off each month and never carry a balance. River cosigned a loan for their daughter and $10,000 remains on that. Even though it is not River's loan, they are still responsible, so it is included in the statement. River's liabilities are $65,000.

When we subtract their liabilities from their assets, River's net worth is $525,000. Although they use it mainly to track their financial health, River can use this information—and the statement as a whole—if they want to apply for any other credit.

Small Business Administration. “ Personal Financial Statement .” Pages 2-3.

Experian. “ What Happens If Your Loan Is Denied? ”

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A guide to writing a Masters personal statement

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If you are considering postgraduate study, you will need to think about writing an application that demonstrates why you are the right candidate for the course and their university. This is where your personal statement comes in. 

You’ll already have written a personal statement for your undergraduate application, so the concept should be familiar. However, there are some things you should be aware of when it comes to writing specifically for postgraduate study. 

In this guide, we’ll explain how to write a stand-out Masters personal statement and provide you with some valuable insights from our Masters Recruitment Manager Danielle, here at Warwick Business School (WBS).

What is a Masters personal statement?

An MSc personal statement, also known as a ‘statement of purpose’, supports your application to study a postgraduate course at university. It should highlight your key skills and experience whilst demonstrating your understanding of the course and conveying your academic skills and interests.

From her experience in the Recruitment and Business Development team at WBS, Danielle gives her take on a personal statement: 

Your personal statement is your opportunity to sell yourself and differentiate yourself from any other applicant, share your passion for joining WBS and link your life experiences and skills to how you could contribute to a cohort.

How long should a Masters personal statement be?

A personal statement for postgraduate study should fit within two pages of A4. Whilst you won’t be penalised if it is slightly longer, you should always make sure the content is relevant and doesn’t repeat information elsewhere in your application. 

What do you need to prepare before writing a Masters personal statement? 

Before writing your personal statement for postgraduate study, there are a few things you should consider.

Research your options

Take the time to read through course pages and brochures. You’ll find in-depth information on what the course involves and how it might align with your career goals. Danielle explains how understanding what the course involves is key in demonstrating your suitability and passion for a course: 

All of our course webpages feature extensive information on the course modules, so take the time to show you’ve done your research in your personal statement. Your personal statement is your chance to relate yourself to our core values and demonstrate what a strong candidate you will be for one of our programmes. Ensure you also use this as an opportunity to link our programme to your future career.

Course titles should not be taken at face value. Whilst some universities will have courses with the same titles, the content will differ. You need to demonstrate you understand what the course entails and why you want to apply for a particular course as. Danielle adds:

Take time to look at the content of the course you are applying for; although course titles may be the same at different universities the course content can be different. Do your research and demonstrate this in your personal statement, showing how invested you are in studying at WBS.

Consider what you want from your studies

The range of choice when it comes to postgraduate study is vast, and it can feel overwhelming when deciding which course is right for you. 

Whilst opinions from your friends and family are important, they shouldn’t be the ultimate deciding factor when choosing a course. Ultimately you need to consider what you really want and whether it aligns with your career goals. 

Begin to prepare your application

Once you have decided which course you would like to apply for and you’ve ensured you meet the entry requirements, you will need to begin preparing your application. This includes collecting the correct documentation such as a CV, transcript, personal statement, and reference.

What should you include in a Masters personal statement?

Recruitment and admissions teams receive thousands of applications each year so it is important that your personal statement is to the point and demonstrates what they are looking for in their students. 

Danielle gives some insight into what our recruitment team looks for in a personal statement for a Masters degree:

Aim to keep your personal statement to the point by making sure you answer the following questions, addressing the key points our Selection Committee will be looking for:

• Why have you selected this course? What are your motivating factors?
• How do you see this course benefitting your career plans?
• What will you contribute to your cohort?

As well as addressing these key questions, you should also include the following:

Academic achievements 

You need to demonstrate how your undergraduate study has prepared you for a postgraduate course. You can do this by highlighting specific achievements, projects and pieces of work as well as mentioning any particular topics that interest you. 

Professional achievements

If you completed any professional work experience alongside your studies, it is a good idea to mention them here. Highlight any duties, tasks and responsibilities you had to demonstrate what you gained from this work experience. 

Relevant extracurricular activities

Including information about relevant extracurricular activities you are involved in can help to give a more rounded view of you as a person. This could include volunteering opportunities and any meaningful hobbies you have. 

Transferable skills

Your transferable skills should be highlighted throughout your personal statement. The types of things you could include are presentation skills, communication skills, analytical thinking and time management. Consider what you can bring to lectures and workshops. For example, if your course involves a lot of group work, use an example where you demonstrate your experience with this.

What should you avoid when writing a Masters personal statement?

Repetition of information.

When submitting both a CV and personal statement it can be easy to fall into the trap of just repeating the same information across both documents. Your personal statement is an opportunity for you to reflect and expand on what you have stated on your CV, rather than repeating the same information.

Not providing enough context

Simply listing your achievements without providing context will not prove to the recruitment teams that you are the right candidate for the course. Provide hard evidence to back up the statements you make and try to give two or three in-depth examples, rather than several weak answers. 

Not tailoring your application to the specific university or course

Recruitment and admissions teams are keen to hear why you have chosen a specific course and why you want to attend their university. You need to provide clear examples of what excites you about their institution and how you can align with their particular values.  

What do recruitment teams look for in a Masters personal statement?

University recruitment teams and selection committees review thousands of applications each year. To ensure your application stands out, you must show that you have taken the time to prepare and research your chosen university.

Recruitment teams want to see your passion for the subject and motivations for joining their institution. Detailing your experience and the skills you can bring will help to emphasise this. Danielle also suggests not overlooking the obvious when it comes to writing a personal statement:

It may sound simple but the first answer to this question is that the Selection Committee wants to see a well written, clearly structured personal statement which demonstrates good preparation and research.

What else do I need to include with my Masters application?

The documents you need to include in your application may vary by institution and course. But generally, as well as your personal statement, you will also need to include: 

• Academic and professional references
• Copies of your undergraduate degree certificate and academic transcripts
• A list of final year modules if you're still studying for an undergraduate degree
• A research proposal (not all courses will require this)

If you are an international student, there are some additional things you will need to provide including: 

• A copy of your passport
• Proof of your language proficiency through either a Test of English as a Foreign Language (TOEFL) certificate, or any others that meet requirements outlined on our course pages.

When are the deadlines for Masters applications?

Deadlines for Masters programmes vary quite widely between courses and universities. Information on specific deadlines can be found on their respective course pages and postgraduate brochures . You should aim to make an application early in the cycle to ensure there are still places available on the course.

Deadlines for scholarships and external scholarships can also vary, so if you wish to apply for these, you will also have to factor in these deadlines.

Frequently asked questions

Is there an interview for masters programmes.

At WBS, there are no interviews for MSc courses. Instead, all decisions are made based on the application you submit. Your undergraduate transcript will be reviewed in depth along with your CV and personal statement.

How many Masters can you apply for?

If you are applying to a UK university, you can apply for as many courses and universities as you like. However, you should not over-stretch yourself and you should only apply for courses that you are really passionate about.

Writing an appropriately tailored application can be time-consuming and attempting to write too many could jeopardise your chances of being successful. 

Do you have to pay for your Masters application?

We require an application fee of £75 to cover administrative costs. If you're applying to multiple Warwick courses, remember each course will warrant its own application fee. 

How do I apply for a Masters degree?

We have our own application system, and you can find linked 'how to apply' sections on all of our course pages. 

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Discover our range of MSc courses at Warwick Business School

Designed for the change makers of the future, our postgraduate courses will drive you to learn, question, debate and make an impact on the world around you.

Our challenging and rewarding courses will provide you with everything you need to take your personal and professional skills to the next level. 

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MSc Management student Aditya shares his advice on balancing his wellbeing alongside studies at Warwick Business School.

WBS MSc Mathematical Finance graduate Luxmi Kiran shares his top tips and advice for future students.

Top tips for writing your personal statement!

Putting together a personal statement can be tricky! Every year, we speak to lots of applicants about what we expect and what we are looking for in the finished piece – it’s something we get asked about a lot!

‘What should I talk about in my personal statement?’

‘How can I make my personal statement stand out?’

‘How long should my personal statement be?’

Fear not! The personal statement section on your application is broken down into 4 clear questions so you can write responsive answers, that offer us insight into the key attributes we look for! That being said, we do have our own tips and guidelines that we like to share, so read on for our full insight!

Why does Imperial College Business School ask for a personal statement?

Quite simply, we ask for a personal statement because we want to know about you. All aspects of your application are important, but many areas tend to be factual and to the point. The personal statement is your opportunity to expand and tell us more about who you are, and what your motivations are for applying to Imperial. Our programmes are hugely competitive, so we often rely on the personal statement to help us understand your profile and fill in any missing pieces from our assessment.

What questions are included in the personal statement section of my application? 

You will be required to complete 4 mandatory questions, which cover your motivation to study and contribution to the cohort, with an additional information section which offers you a chance to detail anything else you haven't mentioned as part of the application. The 4 questions are as follows:

Please share your motivation for undertaking the programme? Treat this as a priority. Ideally, your CV and academic history should have already given us a good idea of your achievements to date, so be sure to tell us why you are pursuing postgraduate study and why you have chosen your programme of interest. You should be able to link your past experiences to your suitability for the programme and expand on anything else that is relevant.

What is your proudest non-academic achievement? This could be professional, personal, or extra-curricular, but we want to know about your proudest non-academic achievement to date, and how it has helped shape you into the person you are today. We love to hear about all the interesting things that applicants have done and achieved, and this is a great way to differentiate yourself from other candidates.

What would you contribute to the cohort and the Imperial community? This question is your opportunity to show us how you will enhance the college experience of those around you and how you will make the most of your time at the Business School. Think about how you will make the campus community a better place, whether this be through participation in extracurricular activities or interactions with staff and students across campus. 

How would you use your degree to make a positive impact? We want to know how the programme will benefit you, both during your studies and in the future. Perhaps, you could use this section to tell us about how your programme fits into your long-term goals, or any long-term objectives you have relating to your chosen area of study.

Additional Information Use this section to include any additional information you want to tell the Admissions Committee. 

Is there anything I should not write about in my personal statement?

Try not to get too caught up with university rankings or facts about the Business School – we want to hear about you, not us! It’s good to talk about the programme content but avoid simply relaying this information back to us. Focus instead on what interests you the most and how you plan to build on past study.

Don’t waffle - keep it concise! You have 1500 characters per section (including spaces!) so make sure your answers are clear and succinct.

Check, check, and check again! It’s the golden rule; make sure your personal statement is free from any spelling or grammatical errors. Copying and pasting from any other personal statements you have written, such as one to another institution, is a risky game – don’t reference another university and be sure to use the correct programme title!

Hopefully, we have given you some good guidance on what is expected from the personal statement and we wish you the best of luck if you are submitting an application, and we look forward to reading your personal statement soon!

Listen to our podcast Inside IB to learn more about creating a stand-out application

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Guide to Better Finance Master’s Personal Statements

Table of Contents

A  Finance master’s personal statement  is an essay crafted by a prospective student applying for a master’s degree. 

The statement’s purpose is to provide insight into the applicant’s personality and how they can contribute to the program. It also demonstrates their experience and expertise in the field. 

Applicants should tailor their personal statements to each specific university and their unique requirements. This will help make it stand out from those of other applicants.

The Importance of a Personal Statement

Personal statements aren’t redundant. While applications and resumes already enumerate an applicant’s qualifications, the main advantage derived from personal statements lies in compelling exposition. 

The exposition of your qualifications matters significantly. It can influence the impression you establish on readers. Moreover, it allows you to highlight specific skills and experiences to paint yourself as a prime candidate.

Personal statements are also a way to demonstrate a genuine dedication to mastering the subject or course . 

The best thing about personal statements is that they are reasonably straightforward despite their value. The following section provides a few tips for crafting effective personal statements.

Tips for Writing a Finance Masters Personal Statement

Highlight Your Finance Accomplishments and Knowledge

Explain how your experience has given you a unique perspective on the subject. Showcase your achievements and competencies, such as internships or volunteer work related to Finance. These will show your passion for the industry and your dedication to learning. 

Reference Research Experience

Referencing any related studies you’ve conducted or written about demonstrates your industry exposure. This will show that you are equipped to succeed in an advanced program and shows your hunger for knowledge. 

Use Concrete Examples

Concrete examples are valuable because they are a reliable basis for your general performance. Include a few to support any skills, characteristics, and values you claim to possess. 

Add an Opportunity Statement

Explain how a Finance Master’s degree can benefit your career, business, or academic life. Show your readers the allure that led you to pursue a Finance Master’s degree in the first place. This is valuable information because it gives admissions board representatives and recruiters a glimpse into your motivations.

Write With Clarity and Structure

To craft a clear, structured statement, you must use active language, well-rounded sentences, appropriate transition words, and utilize common English idioms when applicable. Avoid sounding overly robotic or overusing technical jargon. Let your personality shine through while demonstrating your mastery of the material.

This ensures you deliver a clear message and keeps your reader invested in your personal statement from the first sentence to the last.

If you’re still struggling with writing a  Finance Masters personal statement , don’t fret. Here are a few examples you can gain inspiration from.

Sample Finance Masters Personal Statement

I am an experienced professional with a decade of experience in the financial industry. I have always been passionate about pursuing further education to ensure I stay at the highest level of the market. Last year, I pursued a Masters’s degree in Financial Management (M.Sc.) from an internationally renowned school. 

I wanted to gain a better understanding of this area and expand my knowledge of economics and accounting principles. This will help me develop greater capability in dealing with processes in the ever-changing global environment. 

By taking up this degree, I will also have the opportunity to sharpen my skills through various job roles. I will also gain access to professionals who can provide real-world insight into the area. 

Moreover, My ability to apply within any business setting sets me apart from the rest of the market. I have a strong service orientation and focus on developing innovative solutions. These are qualities that are essential to excel within the management sector. After completing my M.Sc., I would be more than ready to take on future challenges and deliver excellent results.

I come from an international background and have been immersed in investment banking for the past six years. My work experience and Business undergraduate degree create a solid financial knowledge foundation. I want to build upon this foundation, so I seek an MSc in Finance. I recognize the need for more formal training to reach my long-term goals in the finance sector. 

Through my experiences, I believe I understand the challenges faced in working within the global banking system. I have become adept at anticipating and dealing with potential problems as they arise. My current role requires that I be able to analyze different markets and predict outcomes accurately. I feel confident doing this after having undertaken significant research in this area. 

Additionally, I manage portfolios and negotiate deals between clients and other businesses, a task further enhanced by my fluency in English and Spanish. 

I relish the opportunity to further develop my understanding of Finance through a Master’s program. It will allow me to explore new topics like derivatives trading and financial engineering. I also look forward to pushing myself academically and developing professional connections. These networks could be vital when it comes time to pursue my career aspirations. 

This course offers me the chance to gain the skills needed to do precisely that. Pursuing an MSc in Finance is the right decision for me.

I believe my qualifications in Financial Economics and varied work and activity exposure make me an ideal candidate for a Master’s Degree in Finance. During my time at school, I learned the fundamentals of business finance and economics as well. I build on this by reading content from some of the world’s leading financial institutions. 

My success in these areas allowed me to skip a grade, giving me more time to pursue extra-curricular activities. I worked with a small company in India that specializes in financial consulting. This hands-on experience gave me great insight into corporate Finance’s complexities. It also helped me develop good communication skills and sharp problem-solving abilities. 

I am excited to use my knowledge, expertise, and experiences to advance my understanding of the financial industry further. As a student, I will be committed to maximizing my potential by taking advantage of every opportunity the university offers. By working hard and combining real-life examples with classroom learning, I aim to establish myself as an engaged and capable student. Upon graduation, I can become a valuable asset to any financial organization or institution.

Personal statements are vital to Master’s applications and other selective ventures because they express your best qualities . Mastering the art of crafting compelling personal statements will help you go far in your academic and professional experiences. Make sure to apply our tips to maximize your chances of success. Good luck!

Abir Ghenaiet

Abir is a data analyst and researcher. Among her interests are artificial intelligence, machine learning, and natural language processing. As a humanitarian and educator, she actively supports women in tech and promotes diversity.

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• Business Management Personal Statement Examples

Applying to business management school? You will need a strong personal statement to support your university application. Use our business management personal statement examples as a guidance to write your own. Also, make sure to check other personal statement examples for more inspiration.

Business Management Personal Statement Example

The key to any successful business is good management. In order to adapt to the constant shifts of the global economy, businesses must apply methodical reasoning to people, processes, and technology. I have demonstrated a similarly flexible, adaptable approach to achieving my goals as a mature student with strong academic achievement in Administration and IT and extensive employment experience.

As soon as I graduated from school, I began working. However, as my desire to return to study grew, I combined my work experience with study to earn HNC and HND qualifications in Administration and IT. The IT component of this course has particularly intrigued me because of my interest in how technological processes impact business. It has also been fascinating to learn the theory behind the administrative and organizational practices I have implemented and observed throughout the years.

My experience as a news agent’s kid has given me hands-on experience in both financial and personnel management, including customer service, stock management, and liaising with suppliers. Having always been involved with business and management within the industry, it was perhaps not surprising when I decided to gain more experience in retail. In order to allow my passions for both the technological and financial aspects of these roles to flourish, I sought out experiences that allowed these passions to flourish. I used my expertise in providing excellent customer service while working as a Telephone Banking Advisor for Porta Wealth Management to counsel clients on the best services, weighing the benefits and drawbacks of various products in relation to their needs. Additionally, I was in charge of looking after databases, working on banking policies, and implementing rules set forth by the FSA. Moving between small, local firms and multinationals has allowed me to study the differences in administration and management, as well as how technology affects these.

As an ambitious student with a keen interest in business and management, I am constantly seeking out new ways to further my understanding and skill set. In my spare time, I delve into a diverse array of management techniques and put them into practice in both my personal and professional life, allowing me to achieve my goals and aspirations. One of the most prominent examples of this is my leadership experience as the Treasurer, and later the Chairperson, of my local Women’s Power Business Group. In this role, I have been actively involved in a variety of volunteer and fundraising initiatives, as well as organizing workshops to support isolated or vulnerable women and their children in my community. Not only has this role given me the fulfilment of making a difference, but it has also provided me with invaluable experience in implementing leadership, teamwork and administration skills in a real-world setting. I have also been able to infuse my other passions, such as my love for walking, by initiating annual sponsored events like a 5K walk for Breast Cancer Research. This unique blend of my interests and skills has allowed me to develop a well-rounded perspective and provided me with a valuable learning experience.

Having a natural inclination toward the management of people and processes as a persistent self-starter with a drive for improvement. As a result of consistently reflecting on myself in my studies and work, I have been able to identify areas for improvement and think critically about my own performance. In my undergraduate studies, I have not only honed this natural tendency but also gained knowledge on technology integration, which I believe will be crucial in the business world of the future. After graduation, I hope to utilize this knowledge and ability to make a significant impact. I’m determined to make a real impact in the business world, whether I start my own company or take on a key role within a larger organization.

Management Personal Statement Example

Being a very determined and studious individual academically, I knew a university degree was an obvious next step. In spite of my broad interests, I am drawn toward a law or business management degree. As far as Business is concerned, I chose it because of its complexity and intrigue. Management blends so seamlessly with everyday issues that I particularly enjoy. In taking the subject at A-Level, my interest has grown and matured, and I can view many businesses analytically and make suggestions regarding improvements. Law is an area which has interested me from an early age. I am an avid reader and believe that this habit is crucial when it comes to pursuing a career in law. I feel that my attributes make me an ideal candidate for the field as I possess a keen attention to detail and am intrigued by work that deals with contemporary social issues and the need to analyze and present evidence effectively. Additionally, I believe that the psychology coursework I have completed has helped me understand how people’s perspectives and recollections can be influenced by various factors. This type of work demands a certain level of self-assurance, which I am confident that I possess and can leverage to excel in the competitive sphere of law.

Throughout my career, I’ve had the opportunity to work in a diverse range of roles and environments, and this has helped me develop a broad range of skills. However, among all the experiences, I’ve had the privilege to work for Royal Worcester in the Debenhams store which I believe has been the most formative of all. Being a sales advisor in such a high-end company has taught me to have a self-assured demeanour, and I have also had to cultivate a good memory to be able to provide customers with accurate product knowledge.

Additionally, I was assigned the duty of training a new employee, demonstrating the great level of confidence my employers have in me.

From holding the role of form captain in secondary school to helping with the planning of large-scale festivities in college, my educational experiences have been quite useful to me. These kinds of responsibilities have enabled me to grow up and take my roles seriously, earning the respect of my coworkers. As English Prefect in Year 11, I was responsible for supporting the entire English department, which took up a significant amount of my time. I also had a piece I wrote against the mistreatment of women on French television published in the daily “Paris Local News” as a result of my interest in the French language. I was pleased to have my opinions represented.

I have always been passionate about languages and during secondary school, I took evening French classes. My dedication and hard work were recognized when I received the ‘The Best Student of the Year’ award for my outstanding performance. These classes required me to manage my time effectively, so my schoolwork did not suffer. Furthermore, being raised by German and French parents has helped me to achieve fluency in the language.

Aside from languages, sports and leisure activities have always been an interest of mine. In college, I used this passion to do charity work and raise money for ZBIN. One of my accomplishments includes raising £1050 and abseiling 120ft down London University. 

Additionally, I played netball for the local Netball Team and competed in the OGI UK Games for the Wembley Stallions AFC team. My performance was recognized with several trophies, as well as a gold and bronze medal in the long jump and javelin respectively.

How to write specific paragraphs of your statement:

I have always been fascinated by business and the way that companies and large organisations work. From my first steps, I have been an entrepreneur at heart, always finding ways to make a little extra money selling lemonade at the promenade or starting school projects. With my personal development, my interest in business has only intensified, and I have come to realise that business management is something I want to study at school. Read more in management personal statement examples .

I believe that a business management degree will open many doors for me and provide me with the flexibility to pursue a wide range of career paths. Whether I decide to start my own business or join an established company, I know that the skills and knowledge I gain will be invaluable. 

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As a financial planner, I give my clients 4 tips to make their money last a lifetime

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• I'm a financial planner, and I remind clients to look at a long timespan and plan for the worst.
• There's no easy answer to earning more money, but it's important to not ignore that factor.
• I encourage my clients to focus less on frugality and more on how they'll invest in the future.

As a certified financial planner , my goal is to help self-made professionals build wealth that they can enjoy throughout their lives. To do that, we have to make sure their money will last throughout their lifetimes.

But we also need to make sure that clients actually have opportunities to use their money now  while they're young, healthy, and able to fully experience life.

Here's the process we use to build long-term financial plans that work, including what your investment strategy should consider and why living frugally is a poor strategy for getting rich.

1. Plan for change

Your goals for retirement planning will probably evolve over time. The person you are today will not be the same person who retires in 10, 20, or 30 years.

A long-term financial plan that works accounts for inevitable shifts in goals, values, priorities, and circumstances. Although you might not know exactly what will change, you can still plan for an evolving life.

First, save more than you think you need to when you can. If you find you have excess cash flow, don't default to spending it or upgrading your lifestyle. Direct that money to investments instead so you can grow wealth.

Avoid unrealistic assumptions about future income and expenses. For my own planning, I assume a lower-than-expected growth in income and a higher-than-expected run rate for my cost of living.

When making decisions, opt for choices that allow you to walk away at a low cost. This makes it possible to change or adjust course as needed. Be cautious about decisions that demand fixed commitments (like buying a house) that are difficult to reverse.

2. Look for ways to earn more

Personally, I've shifted from "retire as soon as possible" to a more balanced approach to my financial goals.

I save less money now because I want to use some of my income for important experiences throughout life. I don't want to save everything for use on a distant (and unreliable!) "someday" in the future.

My financial plan can accommodate this choice for two main reasons:

First, I saved aggressively when I could for almost a decade. I've saved at least 30% to 40% of my income . The fact I did so in the past gives me increased flexibility now.

I also put a lot of time and energy into earning more money through growing my business.

If you want to grow wealth, increasing your income will fast-track your efforts. Too many people who want to throw out money tips ignore this reality.

I understand why no one wants to talk about it. Earning more is not easy to do, and there's no one piece of prescriptive advice to give that will help everyone.

But we cannot ignore the importance of making more money if our goal is to create more wealth. There are many avenues that can get you to a higher income, so you don't need one right answer. You need to select and stick with a strategy that makes sense for you.

3. Remember, frugality will only get you so far

No matter what you want to do, you'll need money to afford your chosen lifestyle in the future. And you won't be able to work to earn an income forever. By choice or by circumstance, you will eventually need another way to pay for your needs other than your own work.

This means we must recognize the necessity of saving money and investing . There's no disputing that. The question is how .

Living frugally to get wealthy is possible; it's a simple fact that the lower your expenses are, the more you can save.

But it's an inefficient path to building wealth. There are only so many costs you can cut. And only saving money misses out on opportunities to create assets that increase in value over time.

4. Develop an investment strategy

If you want to grow wealth without pinching pennies, you have to invest — and you have to do that wisely.

A sound investment strategy needs to consider:

• What investment vehicles to use
• The right asset allocation based on your goals and your time horizons
• The expenses associated with your chosen investments and how that may impact your returns
• How to leverage diversification across your portfolio as well as across the specific  brokerage accounts  or assets you invest into
• The tax implications of your choices
• Mistakes to avoid, including speculating, market timing, and taking on too much (or the wrong type) of risk

That just scratches the surface of comprehensive investment management here. But in general, if you want to build an investment strategy that will help you grow wealth, you want to look for:

• Long-term time horizons : The longer your money can be invested, the better your odds of a successful outcome where you see growth of your assets.
• Risk-adjusted strategies : You want to take on enough risk to see a return, but not more than you can actually afford to realize (or more than you need to meet your goals).
• Globally diversified portfolios : Remember that there is a literal world of financial markets out there. Throwing your money into one to three index funds that are all US large-cap stocks or US bonds is not a good example of true diversification.

One final key to keep in mind: You're better off sticking with a decent strategy that works over time than constantly hopping from one thing to another in search of the best strategy ever. Consistency is an underrated element on the road to building wealth.

Watch: 6 simple investing tips for beginners

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Economics and Finance Personal Statement

Over recent years I have developed a passion for looking at current events and how they affect the economy. This interest originates from the enjoyment I get from using maths to analyse a problem, as many situations can be explained clearly using maths. Economics is a subject that is very much alive and this is what makes it interesting to me. Every day there are new situations that economists can explore and analyse and I find this prospect extremely exciting.

Studying Pre-U Economics has increased my enthusiasm for the subject as I enjoy following macroeconomic debate in the UK and learning how globalisation changes markets. I have gained insights about how firms have had to react to globalisation and how nations use protectionism as a way of preventing industries from collapsing. The analytical skills that I have developed in Physics have proved particularly helpful as I can transfer these skills to Economics, despite them being quite different subjects. I enjoy following financial markets where you can see how the economic impacts of global events play out and have recently setup a paper trading account.  The trading application helps further my understanding of the impacts of economic events.  I can test my hypothesis of a particular event against the change in markets and improve my understanding.

I became interested in the socioeconomic elements of development and international aid after reading ‘Dead Aid’ by Moyo. The idea of ‘trade not aid’ resonated with me and led me to conduct further research which led me to conclude that having a skilled labour force would be more economically beneficial than trade. Reading ‘Awakening Giants’ by Bardhan gave an interesting insight at the speed at which China has become a leading economy.

I have also enjoyed exploring the world of economics through work experience, the first of which was with Tradition, a global financial services firm.  I learnt how to analyse and rank different trading strategies based on historical data modelling.  At Guardian Stockbrokers I witnessed in real-time the impact of macro and microeconomic data on different asset classes. I set up a demo trading account on the company’s platform to experience first-hand how the slightest change in the economic outlook  can influence the market price. Last summer I secured a place in HSBC’s work experience programme for 6th form students. I learnt about different aspects of retail banking and gained insight into how a retail bank works. This helped put some perspective as to how banking has changed over the years after the financial crisis.

Last year, I was selected to represent my school in a Physics symposium and as part of the team my role was to apply my analytical skills and communicate the results to my team. This opportunity helped with my team building skills.  I have also experienced how to set up a company and run a profitable business when I was appointed the company Financial Director for the young enterprise scheme. I gained insight into how to conduct meetings and improve my presentation and negotiation skills. I enjoy playing classical guitar and have had the opportunity to perform in school concerts throughout my school years. As an active member of the school Charity and Community Service committees I help the local community by volunteering at the day shelter for the homeless and the YMCA cafe. This experience provided me with a different perspective on life. Throughout school I have captained and toured with many school teams playing tennis, football and cricket.

Everyday something new happens in the economic world, I would love to be part of an undergraduate course that analyses these events. This is why Economics is my chosen course and I look forward to expanding my knowledge in this field at undergraduate level and, hopefully, further.

This student also took a year abroad too. 

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Keep these 10 financial documents forever. Scan and shred the rest.

Always hold onto birth certificates and social security cards, but it’s okay to cast off those old bank statements.

No matter how digital we’ve become, we’re still a paper nation.

Are your financial documents stuffed in a closet, files, shopping bags or stacked up on the floor?

Get Michelle’s advice free in your inbox

You may prefer to view it as organized chaos. But isn’t it really just a manifestation of your inability to discern what you need and what you should let go?

When I look at the piles of paper in my office accumulated throughout the past year, I know it’s time for another document dump. It’s part of my spring cleaning ritual .

Sometimes we hold onto all that paper because we aren’t sure what to keep and what to toss. Here’s a rundown of what should be retained.

Forever documents

Certain papers should be kept in a safe location where they are protected from damage, loss and theft. Such original documents, which may be hard or costly to replace, include:

• Birth certificates and adoption papers
• Death certificates
• Marriage and divorce records
• Social Security cards. Yes, you know the number, but there may be an occasion where you have to produce the actual card.
• Military service records, including discharge documents. An honorably discharged service member is eligible to receive funeral and burial benefits.
• Loan payoff statements. Here’s something important: If you negotiated to pay less than what you owed on a debt, keep the original agreement in perpetuity. Often when debt is sold to debt collectors for pennies on the dollar, the sale doesn’t include a lot of information, including documentation proving a payoff.
• Year-end pay stubs. If a company goes out of business you may not be able to track down the information should you need it later.
• Retirement or pension records. Be sure to keep the records from previous jobs.
• Estate documents
• Funeral programs. Although many funeral homes will post an obituary online, they are often shortened versions of the program you might receive at the service. I have a folder of programs because they contain a wealth of information that can be helpful in estate planning, including maiden names and other family history you might need. (In this case, I like keeping the originals rather than a scanned version.)

Loan documents: Keep original loan documents and statements until you have paid off the loan. Then, save the paperwork verifying the balance was paid in full. My husband and I are coming up on one year of paying off our home . I may be a little paranoid, but I’m keeping the original documentation.

Vehicle title: Keep the original as long as you own the vehicle.

Receipts for big-ticket items: For insurance purposes, in case of fire or theft, save receipts for big-screen TVs, computers and other major purchases. Hold on to each receipt as long as you own the item. Personally, I like to keep the original, but a scanned copy should be fine.

Home improvement purchase orders, receipts, canceled checks: Keep proof of any upgrades until you sell the home. If you have a capital gain from selling your primary home, you may qualify to exclude as much as $250,000 from your income or as much as $500,000 if you file a joint return with your spouse.

If you exceed these limits, here’s where having proof of the capital improvements helps your tax situation: “When you make a home improvement, such as installing central air conditioning or replacing the roof, you can’t deduct the cost in the year you spend the money,” according to TurboTax. “But, if you keep track of those expenses, they may help you reduce your taxes in the year you sell your house.”

Investment statements: If they are available online, you do not need paper copies. The most important reason to maintain these records would be to establish your cost basis when selling an asset to make sure you claim the proper capital gain or loss on your tax return.

3 to 7 years

Tax records: Record-keeping guidelines are tied to statutes of limitations. That’s generally three years, but it’s seven years for worthless securities and bad debts, according to IRS spokesman Eric Smith.

“For most people, the tax-related statute of limitations is pretty straightforward,” he said.

But there are special circumstances that extend that time. For example, getting a tax-filing extension, serving in a combat zone, qualifying for a disaster-area deadline postponement or a financial disability.

You must keep records, such as receipts, canceled checks and other documents that support an item of income, a deduction or a credit appearing on a return, according to the IRS.

But it doesn’t have to be an original. Scan and shred. The agency will accept a legible digital copy of a document.

“Electronic storage is also fine, as long as they can be retrieved, if needed,” Smith said.

Why keep even a scanned version after several years?

Your past returns contain your financial history — employment, investments and charitable giving choices.

But you won’t have to worry about having a scanned copy if you have an IRS online account. With an account, you can access a transcript of your return.

Maintaining years of tax returns can help if you ever need to research payments made into Social Security .

Medical bills: If you paid a medical expense with your health savings or flexible spending account, keep the receipt for three years. Consider it a tax-related document.

If you want more personal finance advice that's timeless, order your copy of Michelle Singletary's Money Milestones.

Credit card statements: Companies will provide you with a year-end statement that categorizes all expenses. If that works for you, shred the monthly statements you may have been getting in the mail.

And if you’re still getting paper statements, stop. Get them e-delivered. I still scan and save statements in case I close an account and no longer have online access.

Less than a year

There is no need to keep all those ATM or retail receipts. Once you get your statements, you can shred and toss.

Word of caution

I’ve mentioned this before, but be sure to research online services that will backup your scanned documents. By the way, an external hard drive attached to your computer is still vulnerable to hackers.

Make sure you also regularly update your computer software. The Washington Post’s Help Desk is a great source to help secure information.

B.O.M. — The best of Michelle Singletary on personal finance

If you have a personal finance question for Washington Post columnist Michelle Singletary, please call 1-855-ASK-POST (1-855-275-7678).

My mortgage payoff story: My husband and I paid off the house in the spring of 2023 thanks to making extra payments and taking advantage of a mortgage recast . Even though it lowered my perfect 850 credit score and my column about it sparked some serious debate with readers, it was one of the best financial decisions I’ve made.

Credit card debt: If you’re in the habit of carrying credit card debt, stop. It’s just a myth that it will boost your credit score. For those looking to get out of credit card debt, see if a balance transfer is right for you.

Money moves for life: For a more sweeping overview of my timeless money advice, see Michelle Singletary’s Money Milestones . The interactive package offers guidance for every life stage, whether you’re just starting out in your career or planning for retirement. You can also purchase a copy for yourself or as a gift.

Test yourself: Not rich and wondering what it’ll take to build your wealth? Take this quiz for my wealth-building tips.

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DPL Financial Partners releases statement on final DOL Retirement Security Rule

DPL Financial Partners, the leading platform for commission-free annuities, applauds the Department of Labor’s Retirement Security Rule, released today. Among other things, the rule defines who is required to act as a fiduciary when making investment recommendations to retirement investors. DPL Financial Partners CEO David Lau released the following statement:

“Investment recommendations for retirement savings need to meet a fiduciary standard—this should be self-evident and inarguable. Retirement is a critical and vulnerable financial time for most Americans, and they need to be confident that their financial advisor is giving them the best advice for their circumstances.

“We applaud the Department of Labor’s Retirement Security Rule as an important step toward ensuring that retirement investment advice is delivered in a fiduciary manner. The rule adds a critical layer of definition and transparency, which will provide retirement investors with assurance they are receiving advice in their best interest and an understanding of how the person making a retirement investment recommendation is being compensated.

“We strongly believe this rule will increase the availability of fiduciary retirement advice and solutions. Oftentimes regulation can spur market innovation. Over the past several years, insurance carriers have been bringing commission-free products to market for fiduciary advisors to use with their clients at the same time as advisors increasingly embrace fee-based compensation models and fiduciary commitments; this rule will only accelerate that innovation and transition.

“Annuities are critically important financial tools for retirement savers tasked with funding retirements that can span 30 years or more. But a non-fiduciary sales approach has tarnished their reputation and limited adoption. High costs and misaligned sales incentives have led to consumer mistrust and misunderstanding of these products; commissions are at the root of these problems. The insurance industry has lagged behind the larger trend: Most of financial services has moved away from commissions to fee-based, fiduciary models and it is only a matter of time before consumers demand that insurance does the same.

“The Retirement Security Rule reflects common sense best practices. It is time for the industry to put consumers first by aligning with modern compensation models and transparent business approaches. This rule is a win for retirement investors who need advice they can trust. In the short term, it will protect investors from impacts of conflicted advice. In the long term, it will reduce consumer skepticism and engender trust, which will instill consumer confidence in these important products. DPL is committed to supporting carriers, investment professionals, and firms as they work to meet the requirements and realize the benefits of the new rule.”

About DPL Financial Partners

DPL Financial Partners is the leading insurance marketplace bringing best-in-class solutions from the nation's top carriers to registered investment advisors (RIAs), their clients and consumers. DPL's products, proprietary tools and embedded technology enable RIAs to incorporate insurance and annuities into their practices to more holistically serve their clients. Clients benefit from products that offer competitive pricing and transparent, fiduciary implementation to meet a range of needs in the financial plan. www.dplfp.com

Greg Joslyn, The Lowe Group [email protected] (414)-376-7275

View source version on businesswire.com: https://www.businesswire.com/news/home/20240423795127/en/

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Former Michigan House leader and wife charged with misusing political funds

FILE - Michigan Speaker of the House Lee Chatfield bangs the gavel, April 24, 2020, in the House chambers in Lansing, Mich. Prosecutors plan to announce charges Tuesday, April 16, 2024, in an investigation of the former leader of the Michigan House, the attorney general’s office said. (Matthew Dae Smith/Lansing State Journal via AP, File)

Michigan Attorney General Dana Nessel talks about charging former House Speaker Lee Chatfield, Tuesday, April 16, 2024, in Lansing, Mich. Prosecutors charged Chatfield and his wife with financial crimes Tuesday, alleging they milked political accounts for personal travel, housing and other benefits while the Republican lawmaker was raising millions of dollars from his powerful post. (Al Goldis/Detroit News via AP)

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LANSING, Mich. (AP) — Prosecutors charged the former leader of the Michigan House and his wife with financial crimes Tuesday, alleging they milked political accounts for personal travel, housing and other benefits while the Republican lawmaker was raising millions of dollars from his powerful post.

Lee Chatfield misused various political funds, including his Peninsula Fund, which was not required to report the names of donors and served as an “unregulated slush fund,” Attorney General Dana Nessel said.

The operation was a family affair, as wife Stephanie Chatfield monitored her husband’s credit card balance and paid it off with cash from the Peninsula Fund, including $132,000 over a 14-month period, Nessel said.

In another example, Nessel said Lee Chatfield’s brother cashed a $5,000 check from a political fund in 2020 and returned $3,500 to the lawmaker ahead of a vacation, Nessel said.

Lee Chatfield’s various political funds took in more than $5 million over six years, including more than $2 million in 2020, which was his last year as speaker, the attorney general said.

“To call him, as many have, a prodigious fundraiser would not be an exaggeration,” Nessel said.

Lee Chatfield faces 13 charges, including conducting a criminal enterprise, which carries a maximum prison sentence of 20 years, and embezzlement.

Chatfield’s attorney, Mary Chartier, said she’ll fight the charges “each and every step of the way.”

“It took almost 2 1/2 years for the AG’s office to come up with charges. It’s going to be pretty flimsy if it took that long,” Chartier said.

Stephanie Chatfield was charged with embezzlement. A message seeking comment from her lawyer, Matt Newburg, was not immediately returned.

Nessel said there has been a proliferation of “dark money” political funds. She said the Peninsula Fund was organized under federal law as a tax-exempt “social welfare organization.”

“The Michigan Campaign Finance Act is effectively toothless, useless and utterly worthless as a deterrent to these crimes,” she said.

“The misuse of social welfare funds is not a new practice in Lansing. And while Lee Chatfield may have exploited the system a little bit more than others, no one political party alone has perverted or abused it,” she said.

Separately, there was a renewed call Tuesday to expand financial disclosure laws in Michigan.

“We won’t give up on seeking the type of anti-corruption laws that this state needs that most other states have,” Secretary of State Jocelyn Benson, a Democrat, said. “These charges really underscore the real necessity to more people in Lansing than ever before.”

The Chatfield investigation began in 2022 when his sister-in-law publicly said he had sexually assaulted her. He has denied the allegations and said they had a consensual affair. Investigators eventually expanded the case beyond those claims.

Nessel said there was insufficient evidence to charge Lee Chatfield based on Rebekah Chatfield’s allegations, though she praised her courage in stepping forward.

“Were it not for her we likely wouldn’t be here today,” the attorney general said.

Two people who were top aides to Lee Chatfield when he ran the House were charged last year with crimes, including embezzlement from nonprofit funds created for political purposes. Rob and Anne Minard have pleaded not guilty.

White reported from Detroit.