PoP Income Statement – August 2015

Welcome to our August 2015 Income Statement!

Kitty PoP testing out the cabinetry (he approves) as I test my very first drawer frame… a toe kick drawer!

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.

Spending was a bit on the high side this month, but not too crazy considering how our spending has been going (what with things like the ongoing kitchen renovations  and buying crazy expensive glasses) this year.

Kitchen spending continued at a moderate pace, most of which are related to flooring this month as we rented and accumulated some tools to help us prep the floor and install the tile. Hopefully we’ll make more progress next month so we can share installation shots on next month’s update (and, ya know… so we can have a floor again!).

Travel spending was up as Mr PoP departed to visit a friend and hang out in San Francisco and Yosemite and we gave him a pretty generous “per diem” for incidentals while out there. Since his trip overlaps August and September, I’m expecting to have about the same amount in additional incidentals on September’s report as well.

Other than that, nothing too out of the ordinary this month.

But here are all the details…

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $6,294.  

And here are the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $8,543
  • Rental Income: $1,550
  • Miscellaneous Income (rebates, reimbursements, etc.): $1,273 – mostly medical reimbursements
  • Total Income: $11,366

Expenditures

  • Groceries: $366 – still a little high as I’m focusing on eating lots of fresh produce and that gets pricey
  • Eating Out: $326 – also over budget, but pushed over by taking a colleague and her (former tile installer) husband out for dinner so we could pick his brain about tile installation…  In a way, this was a kitchen reno expense.  =P
  • Total Food: $691
  • Mortgage: $1,151
  • Home Maintenance and Repairs: $474 – Truly Nolen raised their rates, which I am less than thrilled at.  But we got our favorite bug guy back, and I don’t feel like our house is at the point where I want to start trying out a new pest control company.  The last thing we need is bugs…
  • Kitchen Renovations: $1,414
  • Bills/Utilities for Primary Residence: $166
  • Total Home: $ 3,205
  • Gas: $199
  • Auto Repairs / Maintenance: $0
  • Total Transportation: $199
  • General Shopping: $223 – includes a birthday gift for Mama PoP – happy birthday again! – and new hiking boots for Mr PoP that he is probably wearing in the woods as I type this.
  • Pet Supplies / Care: $0
  • Total Shopping: $223
  • Gym / Fitness: $53
  • Medical Treatment/Visit: $54
  • Media Subscriptions: $8
  • Media/Entertainment Non-Subscription: $0
  • Total Health/Fitness/Entertainment: $115
  • Travel: $499 – the first half of Mr PoP’s incidentals spending for his vacation with his best friend
  • Total Miscellaneous: $499
  • Total “Personal Expenditures”: $4,932   ($3,518 excluding the kitchen reno items)  
  • Investment Properties: $140, of which ~$100 was to fix a window at our rental.  It was a total freak accident and not our renters’ fault at all.  We were just glad that no one was hurt when the glass broke and that it was a relatively inexpensive fix for Mr PoP that he was able to finish before the tropical storm was scheduled to hit.  (Murphy’s Law would dictate that if he hadn’t been able to finish it, Tropical Storm Ericka wouldn’t have fizzled out like she did.)
  • Total Investment Expenses: $140
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $11,366 – $4,932 – $140 = $6,294

Principal Paydowns / Savings Allocations

  • Holding Acct For Roth 2015 IRAs: $1,000
  • Transfer to Taxable Investment Account: $5,000 – yay, get to buy some shares on sale!!
  • Total Principal Paydowns / Savings Allocations: $5,000
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $6,294 – $6,000 = $294 = Net Income

How was your income and spending this month?

23 comments to PoP Income Statement – August 2015

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