Account Balance
What is an Account Balance?
An account balance is a statement of how much money is in an account.
How Does an Account Balance Work?
For example, let's say John Doe deposits $100 into a new bank account. He withdraws $45 the next day. Then he deposits $20. His new account balance is $100 - $45 + $20 = $75.
Why Does an Account Balance Matter?
An account balance can also be the amount owed to a creditor. For example, if John Doe gets a new credit card, buys patio furniture for $1,000, and charges his $150 dinner out, his account balance on his credit card is $1,150 (and he has only $75 in his bank account, so he might have a big problem).
Personalized Financial Plans for an Uncertain Market
In today’s uncertain market, investors are looking for answers to help them grow and protect their savings. So we partnered with Vanguard Advisers -- one of the most trusted names in finance -- to offer you a financial plan built to withstand a variety of market and economic conditions. A Vanguard advisor will craft your customized plan and then manage your savings, giving you more confidence to help you meet your goals. Click here to get started.
