Welcome to our March 2016 Income Statement!
Grainy picture of the Kilauea volcano at sunset. iPhone not the best at night… =(
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.
We’re still in Hawaii for another week, but I took a few minutes this morning to compile our monthly financial statements. (Once you get a system it really doesn’t take much time at all to summarize every month, I swear!) And it’s good for us to check in on our monthly totals, even on vacation. =P
March was an expensive month, and the overwhelming theme of much of it is “travel”. That’s pretty okay for us since we knew we wanted this year to be a year when we traveled more after not getting to travel much while working on the kitchen last year.
Shopping was high as I spent nearly $350 in the two days before departing on our trip trying to replace my old hiking boots with ones that wouldn’t aggravate my foot injury. The good news is that I found some Keens that fit the bill – and they have gotten a TON of use on our trip so far! But I still have a good $200+ in other shoes that need to be returned when we get home since I had just started buying the “best shoe” I found at every store we went to. Yay for return policies. =)
We also paid Mr PoP’s traffic ticket and online traffic school. Ugh… a solid $217 for a U-turn. Violating the law is expensive, yo.
Travel was the big one, though. $2,874 in non-reimbursable travel expenses. About $1K of this went to tickets for Mr PoP and his best friend to attend Burning Man later this year. At $390/ticket + a vehicle pass, it’s not cheap. But this is a trip Mr PoP has been wanting to take since before we even started dating and it’s finally happening. He and his friend are having a blast planning for it so far, too! The remainder of the travel spending this month was for our Hawaii trip. 12 nights with AirBnB hosts at ~$110/night. 12 days of rental cars at ~$30/day, and ~6 days of incidentals, which we try and keep at $100/day or less when we’re traveling.
April travel will also be on the high end as we will have the remainder of our Hawaii spending, spending for our trip to Omaha for the BRK meeting, and we’ll have another payment for my trip to Ecuador later this year. That won’t be the end of the travel spending for the year, but these two months will definitely have the bulk of it.
The shining bright spot on this income statement is the negative $402 in kitchen renovation expenses (ie $402 in income in this category). We’re still not done with the kitchen, but we’re starting to sell some of the tools we bought that we are done with and won’t be using again and are counting these sales against our previous (and future) kitchen expenses.
The Bottom Line
- Earnings before principal paydowns and savings allocations of $3,707.
And the details…
Continue reading PoP Income Statement – March 2016