PoP Income Statement – August 2013

Welcome to our August 2013 Income Statement!

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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.

August found us with some pretty significant transportation expenses – a blowout on one of the car tires on Mr. PoP’s way to work ended with us getting four new tires on the car. Then another flat tire on my bike on my way to work a couple weeks later (seriously, this was our month for flat tires!) with $100+ in bike parts so I could be ready for my next flat tire on my bike commute.

Home maintenance expenses were pretty high as well, but the “garage-mahal” expenses are starting to come in, which accounts for most of the expenses so far. (Copper is pricey these days!)

 

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $3,988

And here are the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $6,860
  • Rental Income: $1,650
  • Miscellaneous Income (rebates, reimbursements, etc.): $310
  • Total Income: $8,820

Expenditures

  • Groceries: $434
  • Eating Out: $267
  • Total Food: $701
  • Mortgage: $1,167
  • Home Maintenance and Repairs: $662 – Garage expenses are starting to come in!
  • Total Home: $1,829
  • Gas: $353
  • Auto Repairs / Maintenance: $714 – 4 new tires were a significant chunk of this.
  • Total Transportation: $1,067
  • Bills/Utilities for Primary Residence: $401
  • Bills/Utilities for Investment Properties: $286
  • Total Bills / Utilities: $687
  • General Shopping: $412 – Overpaying for bike parts shot this up!
  • Pet Supplies / Care: $55 – Kitty PoP bit through a screen around our pool, so we charged his budget for replacement screening =)
  • Total Shopping: $467
  • Gym / Fitness: $73
  • Medical Treatment/Visit: $0
  • Media Subscriptions: $8
  • Media Non-Subscription: $0
  • Total Health/Fitness/Entertainment: $81
  • Travel: $0
  • Total Miscellaneous: $0
  • Total “Everyday Expenditures”: $4,832
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $8,820 – $4,832 = $3,988

Principal Paydowns / Savings Allocations

  • Allocation for Roth IRAs: $4,000
  • Total Principal Paydowns / Savings Allocations: $4,000

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

  • $3,988 – $4,000 = –$2 = Net Income

 

Our buffer is pretty much rebuilt, so this month we’re setting $4,000 aside for our Roth IRAs for 2013.

 

How was your income and spending this month?

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