PoP Income Statement – April 2017

Octopus at the Monterey Aquarium!

Jellyfish at the Monterey Bay Aquarium!  Too cool!

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.

April was a bit of a contradiction here in the PoP household.  It felt insanely short (how is it May ALREADY!?!) and long (was it really less than a  month ago that we were enjoying a bit of a road trip in California?) at the same time.

Our April expenses were also a bit of a contradiction, too.  A bit on the high side, but not too bad when you consider that it’s got a lot of travel and car expenses in it.

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The deer munching the hedge right across the street from where we were staying!

First – the travel.  $801 was the remainder of the incidental expenses for our CA trip that had us spending time in Northern California and Southern California and a mini road trip in between.  Honestly, it was a pretty awesome trip.  I fell in love with the town of Pacific Grove right near Monterey – how could I not when I got to see whales, harbor seals pupping on the beach, and a deer munching on hedges in a front yard across the street from our AirBnB.  Top all that with a trip to the Monterey Bay aquarium and I was in fauna heaven.  We weren’t watching our spending too closely during this trip, but still ended up right around the $100/day in incidental/additional expenses that we aim for.  Add to this the 1 night of AirBnB and the 3 day car rental that we had prepaid and we came out in pretty good shape for a 11 day vacation.

Second – the car expenses.  The AC on our old car is not doing so well.  So $200 of the car expenses went toward a better diagnosis of that issue.  Mr PoP thinks he has that now, and will probably buy the parts to do the repair himself sometime in May before it gets too insanely hot in Florida. Even though we’re not planning on keeping the car for a whole lot longer (6 months max, we’re thinking?), selling a car without A/C is pretty much a non-starter in Florida.  We’ve been down that road once before already and it wasn’t pretty.

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We met Chuck the seal on the beach in Santa Barbara with friends.

Then there was $962 worth of NSX expenses.  $235 of that was for a jack stand so Mr PoP can finally start installing some of the parts he bought in February and March.  (He’ll start on that in May!)  But the rest of that is our first $727 auto loan payment.  The interest rate is 1.49% on a 3 year loan, which seemed like a good opportunity to keep cash in the market invested.  Admittedly, this is a much shorter term bet than we generally feel comfortable making, but so far the S&P500 is up 1.06% from the day the funds were disbursed to us (6 weeks ago).  So very short term, this is so far in our favor and we can pay it off at any time with no penalty.  Not going to lie, though – it is a weird feeling to have a car loan with a payment of $727.

Here’s all the rest of the numbers…

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $3,699.  

And the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $7,138
  • Rental Income: $1,600
  • Miscellaneous Income (rebates, reimbursements, etc.): $55 – apparently AT&T overcharged me years ago and I got a small settlement.
  • Total Income: $8,739

Expenditures

  • Groceries: $408
  • Eating Out: $129
  • Total Food: $537
  • Mortgage: $1,123
  • Home Maintenance and Repairs: $427
  • Renovations: $260
  • Bills/Utilities for Primary Residence: $158
  • Total Home: $1,968
  • Gas: $178
  • Repairs & Maintenance: $198 – AC on the old car
  • Fun Car: $962
  • Total Transportation: $1,338
  • General Shopping: $258
  • Pet Supplies / Care: $0
  • Total Shopping: $258
  • Gym / Fitness: $79
  • Medical Treatment/Visit: $64 – last appointment (hopefully ever!) with my foot surgeon.
  • Media Subscriptions: $8
  • Total Health/Fitness/Entertainment: $151
  • Travel: $801
  • Total Miscellaneous: $801
  • Total “Personal Expenditures”: $5,053  ($3,831 net Reno and NSX)
  • Investment Properties: $41
  • Total Investment Expenses: $41
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $8,739 – $5,053 – $41 = $3,699

Principal Paydowns / Savings Allocations

  • Transfer to Holding Acct for 2017 Roth IRAs: $1,000
  • Transfer to Taxable Investment Account: $2,500
  • Total Principal Paydowns / Savings Allocations: $3,500
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $3,699 – $3,500 = $199 = Net Income

How was your income and spending this month?

 

 

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