PoP Income Statement – August 2012

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Kitty PoP’s so psyched at what we were able to put away this month that he’s rolling around in the sun like an idiot. Look at that tongue. What a doofus!

We’re wrapping up the summer pretty nicely here. The second half of Mr. PoP’s work bonus came in (so another $3.5K in income there). We sold a couple of things around the house on Craigslist and also had an “unclaimed money” check come in the mail, which accounted for another $300 or so. Not bad.

The Result

  • Earnings before principal paydowns and savings allocations of $8,878! That’s the best since we’ve been keeping track on the blog!

So here are the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $10,538
  • Rental Income: $2,250 (includes rental deposit from new tenants)
  • Miscellaneous Income (rebates, med reimbursements, etc.): $309
  • Total Income: $13,097

Expenditures

  • Groceries: $474
  • Eating Out: $396
  • Total Food: $870
  • Mortgage: $1,166
  • Home Maintenance and Repairs: $161
  • Total Home: $1,327
  • Gas: $455
  • Auto Repairs / Maintenance: $119
  • Total Transportation: $574
  • Bills/Utilities for Primary Residence: $416
  • Bills/Utilities for Investment Properties: $130
  • Total Bills / Utilities: $546
  • Interest Payments on Non-Mortgage Debt: $173
  • Car Loan Payments: $265
  • Total Interest / Car Loan Payments: $438
  • General Shopping: $251
  • New Computer: $1,080 – $1,000 (since set aside last month) = $80
  • Pet Supplies / Care: $0
  • Total Shopping: $321
  • Gym / Fitness: $113
  • Media Subscriptions: $25
  • Media – Non Subscription: $1
  • Total Fitness/Entertainment: $99
  • Doctor’s Visits (reimbursable): $44
  • Total Doctor’s Visits: $44
  • Total “Everyday Expenditures”: $4,219
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $13,097 – $4,219 = $8,878

Principal Paydowns / Savings Allocations

  • Principal on HELOC: $6,000
  • Transfer to IRA Holding Account: $1,000
  • Set aside for Tree Maintenance: $1,200
  • Total Principal Paydowns / Savings Allocations: $8,200

Net Income = EBPPS – (Principal Paydowns + Savings Allocations)

  • $8,878 – $8,200 = $678 = Net Income
So our cash accounts grew by $1,878 (the $1,000 in growth of the holding account for the Roth IRA + $1,200 set aside for tree – $1,000 used for computer + $678 in net income) in the month of August 2012, and we paid $6,000 in non-mortgage debt off.

 

9 comments to PoP Income Statement – August 2012

  • Impressive figures there!

  • Wow! Nice breakdown, I need to start doing something like this. I use Mint to track my spending but I get a little lazy sometimes.

  • Rachel

    Thanks for sharing this! The husband and I are trying to find a way to have a simple report that we can talk to about the finances. Quicken is too granular for him (and me, honestly.) I like how simple your categories are. I’m intrigued by how you break out the income statement, too. Do you not account for transfers to your retirement accounts on your I/S? You account for other Balance Sheet changes (liability paydowns, etc.) so just checking to make sure I’m following. Thanks for posting!

    • All the pre-tax deposits to our 401Ks are left out of this because we never get our hands on the money, so to us it doesn’t “feel” like income or spending. Our after tax deposits to our IRAs are currently being set aside at a rate of about $1000/month (down by where we’re accounting for pay downs to the debt balances). But for now we keep these in a “just in case” holding account until we deposit the $10K ($5K for each of us) each year before the April deadline. At some point when we get beyond these tax-preferred maximums, and past all the debt pay down I’m sure the accounting will get a bit more complicated, but this seems to work pretty well for us for now.

      Have you tried Mint? Its structure is kindof how we made this…

  • […] RSS feed and we'll keep it coming! ¬†Thanks for visiting =) If you read through the details on our August Income Statement and Balance Sheet, you might have noticed that we set a bit of money aside from last month’s […]

  • Rachel

    Thanks for the reply! I haven’t tried Mint. I’ve been with Quicken since college (a long time ago), but I think I may need to look at other options. At some point, that amount of history is less valuable and more of a burden. I’ll take a look. Thanks. :) Enjoy the blog, keep up the good work.

    • Mint is now owned by the company that built quicken (intuit). It wouldn’t surprise me if there’s a way to import data between them since they’ve now got the same corporate parent. But I could be wrong!

  • […] at our recent income statement, you can see that Mr. PoP and I make pretty good money. Yes, August was a little higher than usual […]