As Kelly B says, you need to post a sentence or otherwise give us more context.
My initial reaction is to say no, it is not an appropriate term to describe everything that someone has. It may be stretched to mean something a bit like that, perhaps.
My finances and my financial situation are usually pretty much the same thing. And neither of them refer to my home or other property I might own.
My financial situation would, for me, consist of what monies I can lay my hands on with reasonable speed. My finances are what cash I have to hand at somewhat shorter notice.
My finances usually refers to both liquid--cash--assets and long-term assets and liabilities, though the emphasis is generally on the liquid portion.
My financial situation includes anything that contributes cash or places a claim on it, whether short-term or long-term. Thus, property such as a mortaged home, real estate holdings, tax liabilities, earnings, and even anticipated inheritances could be included.
Once you establish some context, including a sample sentence, we can determine the most appropriate term to describe what you are referring to.