By using a simple Excel spreadsheet, you can learn how much your bank has earned in the past year and compare that to what you’ve made.
The spreadsheet will help you make informed decisions about your financial situation and how to invest your hard-earned money.1.
Calculate how much you’ve earned and the amount of cash you’ve withdrawnFrom the top, click “Total Assets” and then click “Cash Outflow”.2.
Enter your bank’s balance in the bottom right of the table.
You will be presented with the balance you have at any given moment, and then you can use the spreadsheet to make a final calculation.
You can view your current balance by clicking on the “+” symbol, and you can see your net income in the left column, and your cash flow in the right column.3.
Click on the “Invest” button.
This opens a new tab with the options to invest, deposit, or pay.4.
From the top of the screen, click on “Investment”.5.
Choose the type of investment you’d like to make.
For example, you may be interested in investing in a mutual fund or real estate investment trust, which will give you access to an increased rate of return.6.
Select the number of dollars to invest in.7.
Select how much money you want to invest.
This will set your withdrawal limit, and it’s recommended to have at least $250,000 to invest for a return of about 10% annually.9.
Enter a date for your return.
You’ll then see your portfolio with a green checkmark indicating you’ve reached your investment target.11.
Click the “X” in the upper right of your screen to close the tab.
This is your new financial account.
It’s important to note that your bank will never charge you interest, and there’s no fee associated with using your new account.
If you are using the spreadsheet, check your balances and withdrawal rates to make sure you’re getting the best deal possible.
Once you’ve calculated how much cash you have in your bank accounts, you should now see the “Cashoutflow” column.
You should be able to see that you’ve pulled in the maximum amount you can, and this will be the total amount of money you’ve invested.
You can then use this to make decisions about how to spend the money you’re withdrawing.
For more information, check out the Bank of America’s Financial Services Guide.