Average balance of account URGENT

[Iloverupertp]

Hi
I’m gathering my bank statements for a court hearing(divorce)and they’ve asked me for average balance over last 6 months for my current account !
What’s the most accurate way of doing this ?
Thanks

With nationwide each statement tells me the average credit balance. Check if yours does?

My bank statement have started showing me my average balance, but have only noticed it this month.
Sorry, that's no help except that it might be worth asking your bank as they might already do the calculations.

In the absence of the people above bring right I would look at the balance last thing on the 14 of the month for the last 6 months and average it. What it would tell you I have no real idea as income comes up and down over that period.

You could add up every transaction and divide the result by the number of months but that seems more work to me..

This is time consuming, but...

For the most accurate amount I would take the daily balance every day add them all together then divide by the number of days in the month (eg. Day 1 + day 2 + day 3 etc. divided by 30/31)
This will give you 6 figures
Add them together and divide by 6.

The answer would be right, but it is time consuming and sure there's an easier way. My bank tell me mine.

I’ve asked my bank they said they don’t do that!
Thanks for the tips

I can't see the point in that. Surely what you pay in (earnings) is more important?

It’s nonsense as just done a quick estimate from the advice and it’s about £220
Not sure what that tells them!

I think if you get a free credit report from Noddle it gives you your average balance as well.

You do have to gave them your card details though, I thought it was a scam but it isn't!

Asking your average daily balance seems ridiculous though!

When I'm working out average balance on an account I look for the modal average, not the mean average.

Mean is where you add it all up and divide by number of incidences, modal is looking for the most common balance.

I'll skim through all the balances and choose the figure that occurs most often - I might then take those figures and do a mean average. For example, I'd take six months statements. Let's say that gives me 12 balances. 9 of those are roughly £600, and 3 are roughly £200. I'd say the average balance is about £600. I may then add up all the "roughly 600" numbers and divide by 9 to get a single precise figure if required.

If you use a mean figure it can end up really skewed especially if one month loads was paid in unusually or if you got 2x four weekly pays in the monthly statement period.

I'm not doing this for divorces, but my figures do feature in court proceedings and I've never been criticised for my method when I've had to explain it!

@Isleepinahedgefund That makes sense. I always read average as "mean average" but then I quite like mucking about with a calculator!