Welcome to our December 2014 Income Statement!
I’ve never wanted to graffiti in my life, but every time I ride past this freshly cut limb on my bike commute I want to stop and carve our initials in the cool heart that was naturally made. =)
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’ll post a wrap up all the 2014 spending numbers sometime next week, but for now let’s talk about just the month of December.
We went into the month knowing that we needed to spend $3,206 or less to meet our $50K annual goal, so I had that in the back of my mind as a goal that would require a stretch to get to. But at the same time, it was also the holidays and I didn’t want to skimp on giving to people or organizations that we typically do just for the purpose of meeting that goal. And if we hadn’t had that rather audacious goal of $3,206 for the month (which would have been our lowest spending month in over 2 years if we had met it), I’d be pretty darned pleased with how the December spending went, since it was still our second lowest spend month of the year.
Our spending was actually $495 over that goal (which puts us at spending 1% more than our goal for the year). And the majority of that extra 1% can be accounted for with two unfortunate occurrences.
1 – Mr PoP got sick – a really terrible cold for almost 3 weeks. It was so bad that at one point when I heard him coughing across the house I was convinced that Kitty PoP was choking and dying and I ran out to somehow perform the kitty Heimlich maneuver. But nope, Kitty PoP was happily munching on his kitty kibble and the racket was just my husband choking on mucus membrane in his sleep. (Are you disgusted? I was!) Whenever Mr PoP gets sick, whatever natural predilection he has towards frugality goes completely out the window as he is fully ready to swipe his credit card at any nearby terminal if he thinks it will make him feel better. He knows about this weakness, and I make fun of him for it (but only after he is feeling better). This bout of illness cost us $91 in OTC purchases at Walgreens and CSV, $106 in prescription drugs, and a good $40 or more in impulse purchases made at his company cafeteria beyond what is normally budgeted since it being Q4 he obviously had to go into work sick. So that’s $236. There will also be a bill from our GP for probably $80 or so, but it hasn’t arrived in the mail yet and will be counted on 2015 spending.
2 – Our car hit 100K miles a month earlier than I thought it would and ended up needing some maintenance. Fixing some corroding wires was $22 the first time the car wouldn’t start for Mr PoP, but the 2nd time the battery died, he bought a new one for $143. Hitting 100K miles meant an oil change and while there Mr PoP got new wipers for the car too… $77 total. So the car was another $241 that we hadn’t quite thought we’d need until next year. And there will be more car expenses in 2015, so we’re accounting for that in next year’s budget plan.
Mr PoP would also like it pointed out that I spent more on charity and gifts than he did on being sick, so the overage could also be attributed to that. Lest you all think he’s a complete grinch, he is still feeling a little cough-y, so is still in grumpy mode a little. =)
The Bottom Line
- Earnings before principal paydowns and savings allocations of $8,189.
And here are the details…
Continue reading PoP Income Statement – December 2014