PoP Income Statement – March 2015

Welcome to our March 2015 Income Statement!

Mr. PoP and I put these income statements together for two reasons. First, we want to be transparent about our finances because we’re trying to be role models for other people who are trying to plant their own pennies (and end up with dollars someday!). Second, we do this to make sure we’re on track to meet our own long-term goals. If you’re not tracking your income statement and balance sheet, we highly recommend you start using a program like Mint to keep track of it all.

Start to current on the kitchen.  Sorry for the image quality on the current pic.

Start to current on the kitchen. Sorry for the image quality on the current pic.

The numbers this month are not stellar, there’s no way around it.

Top of the list is what we spent on the Kitchen Reno this month, $2,517.  We’re making progress, but the punch list to getting inspected and getting a ceiling ended up being much longer and much more complicated than we had talked about initially.  Instead of re-using much of the electrical and HVAC system that was initially over this area, it’s all been redone to be more robust and up to current code (mostly).  Overall, that’s a good thing (though I do love re-use!) – it’s going to be significantly harder to blow the breaker than it used to be and our lighting system is going to be much more customizable than our previous lighting system.  But these additional improvements added costs in terms of time and money.  Blessedly we had one last cold snap last weekend and hopefully the weather will stay mild enough for another week or so until we can get inspectors out to the house.  We’ve already had some 90 degree days and more of those (and warm muggy nights) are going to be killer without some insulation and a ceiling before too long.

Food spending was totally over as well, at 25% over budget overall.  Groceries were about $50 over, which has seemed to be par for the course lately as I struggle with limited cooking facilities and eating out was $100 over, mostly due to taking friends out to eat – friends that we would normally have over to eat at our house.

Excluding those items, the rest of our spending was actually pretty good.  Turns out when you’re spending this much time renovating your house you don’t have a ton of time to spend money doing other fun things, like the scuba trip Mr PoP was originally planning on going on this month.  He has postponed his next scuba trip until after we get a ceiling and for both our sakes I hope he doesn’t have to wait long.

As less than stellar as they are, here are March’s numbers.

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $3,586.

And here are the details…

Continue reading PoP Income Statement – March 2015

Our Neighbors Are Freaking Cool

Back in October Mr PoP and I (okay, mostly me) turned borderline-creeper when the house next door to ours was listed for sale and dozens of cars started showing up immediately to check the place out*. I found myself peeking out the front window every time we heard a car door slam in the driveway next door and as much as I tried to convince myself I wasn’t nosy, I knew I was dying to have a preview of who might move in!

Current State of Our Trusses:  The plywood part will stay and form the new ceiling line, the 2x4s below it will be cut away soon.

Current State of Our Trusses: The plywood part will stay and form the new ceiling line, the 2x4s below it will be cut away soon.  The neighbors were impressed!

The thing is, the properties right around us are totally open. Without fences, we can see into each other’s pool areas and if we really cared, eavesdrop on any loud conversations on each others’ back patios. It’s not like the houses are on top of one another or anything since we live on quarter-acre lots, but if the person next door wanted to make our lives unpleasant, or make our lanai feel less like one of our sanctuaries, they probably could.

The other part of the issue is that our original neighbor in that house was just beyond fabulous. She was 88 when we moved in, and so friendly, but not in a pushy way. She brought us fresh baked banana bread the day of our move-in, filled us in on most of the gossip we know about the folks that owned our house before we bought it out of foreclosure, was too hard of hearing to care when we made noise by DIY replacing all the siding on our house or when Mr PoP and his brother re-did a whole section of the roof, and always had a smile and some aged wisdom.  “My mom told me your body starts to go downhill when you turn 70. She just didn’t tell me how much speed you pick up at 90!”

What more could we want in a neighbor?

Needless to say, the bar for new neighbors was pretty high.

But We May Have Hit The Jackpot

Continue reading Our Neighbors Are Freaking Cool

Happy Friday: Almost Finished Home Sweet Home

Thanks so much to Mr 1500 for sharing their home renovation success in today’s Happy Friday post!

Our home was beautiful, but our neighbors were not.

Two years ago, we were in a bad place. Literally. Mrs. 1500 and I had moved from Wisconsin to what we thought would be greener pastures and bigger mountains in the state of Colorado. It didn’t take more than two weeks to realize we had relocated to the wrong city. We were surrounded by Consumer Crazies on steroids. Everyone was in a battle to see who could spend the most money. The high school students of driving age had nicer cars than us. We didn’t fit in. We didn’t want to raise our children around these people. It was time to move again.

After careful consideration, we found a town that we knew would be a better fit. We did our homework and everything clicked. The town had a vibrant center, a great library and good people. We had found our place in the world. The problem was that everyone else wanted to live there too. Houses would be on the market for mere hours before receiving multiple offers. However, one house didn’t sell right away. This house was Uglyhouse. Continue reading Happy Friday: Almost Finished Home Sweet Home

Thursday Rant

I’m not normally a ranter. I’m at a pretty good place in my life where Mr PoP and I have a lot to be happy for. I much prefer spending my energy being grateful for those aspects of my life rather than letting myself get worked up about something that I have little (or no) control over.

But this week, I’m ranting. I’m taking over the Thursday Rant at 1500 Days. But check back in tomorrow for our Happy Friday post, taken over this week by Mr 1500.

So follow me over to 1500 Days for a good rant.

PoP Balance Sheet – February 2015

Welcome to our February 2015 Balance Sheet!

We use the structure of a monthly income statement and balance sheet in tandem to make sure we are keeping our expenses low and planting our pennies wisely. If you’re not already tracking your finances using these two methods, go to mint.com and get started today! If you have any questions about how we do this just post a comment and we’ll be sure to help!

After tallying up all of our cash hemorrhaging expenses (for which we haven’t yet adjusted any of our asset values up), imagine my surprise when I added up our balance sheet and we somehow came up with a non-trivial gain on our net worth for the month of February.  Thank you, Mr Market and the 401K deposits that went into Mr PoP’s account from his last big commission check that didn’t clear until the beginning of February.  =)

So for the month of February:

  • Our total assets went up by $17.1
  • Our total liabilities went up by $1.1 (just a function of when the cc balance is paid)
  • Net worth rose by $16.0K 
  • Total net worth as of the end of February is $854.3K, which represents a 1.90% increase this month.

And for the details…

Continue reading PoP Balance Sheet – February 2015