Welcome to our August 2014 Income Statement!
Wasn’t sure if this little guy was dead, so he went back to bobbing in the ocean after a quick picture. But what a treat to see washed up on shore!
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.
Speaking of Mint, we were profiled on the Mint blog last week – check it out!
Another month come and gone, and we can hardly believe that summer is coming to an end. It’s been a hot one down here, with temperatures running a bit higher than normal, so I won’t mind when the temperature starts to drop a bit.
Expenses this month were right around where we need to be from now until the end of the year if we’re to hit our goal of spending no more than $50K this year, which is a good feeling considering it was still a pretty luxurious month. Well, not buying a a 41-year-old car luxurious, but pretty nice. =)
The biggest expense (besides the mortgage) this month came from getting Mr PoP his SCUBA certification (~$800, though he’s got an as-of-yet unused credit for some equipment in there, too). He’s talked about wanting to get certified for a while and a friend of ours who is a former SCUBA instructor came over and gave us a lesson in the pool earlier in the summer. But, he finally bit the bullet and did it. We hope this turns into something where we make more of an effort to go to different locations not too far from home a few times a year for a nice weekend in and around the water.
The other big expense was renewing our Truly Nolen bug service. I have mixed feelings about this one… it’s expensive, but I’m really NOT okay with bugs being in the house. The yearly service would be over $400 if we didn’t get a 5% discount for paying for a year all at once. Mr PoP has talked about learning about the various things that they do and trying to DIY this for a year. While I definitely wouldn’t be opposed to not spending this kind of money, I think this is the kind of thing that (especially in FL!!), you really need to stay on top of and we couldn’t let a busy month or quarter become an excuse not to treat the property. Does anyone DIY their own pest control in an area like Florida? Any recommendations?
The Bottom Line
- Earnings before principal paydowns and savings allocations of $4,964.
And here are the details…
Continue reading PoP Income Statement – August 2014