PoP Income Statement – August 2017

With a face this cute, you'd never suspect he'd be hosting a parasite, would you. =(

With a face this cute, you’d never suspect he’d be hosting a parasite, would you. =(

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 got some bad news today.  Kitty PoP has a tapeworm.  He has almost no symptoms (he has yacked up his dinner a few times over the last month or so, which is a bit unusual), but seems otherwise not bothered by them.  The worm(s?) turned up in one of the tests the vet ran last month and we somehow didn’t find out until today. =(  But we applied the anti-parasitic, so hopefully it will take care of the problem and our little guy can go back to being his perfect little self.

In other news… it was a solid month for income in the PoP household – we each earned some bonus money from our employers, and it *looked* even better than it would have earlier in the year because we both officially maxed out on our 401K deposits. From now through the end of the year we will see more after tax money flowing through these income statements instead of bypassing them and going straight to the 401Ks.  But probably not as much as this month.  Bonus money from both our employers in one month was a bit unusual.

Other than groceries being particularly egregious (I have yet to stop at Publix since the Amazon/Whole Foods merger on Monday to see if there has been an immediate impact yet), the month was pretty close to “normal” for us.

Mr PoP shopped around and got us a new bug company at a slightly lower rate, so we hope they will be good since we paid for a year of pest control service up front (for both our house and the duplex).

And the duplex had a pesky A/C problem that we had to pay after-hours rates for. That was a bit pricey, but we’re not going to mess around with renters not having A/C in August in Florida. Sorry, not happening.

Here’s all the rest of the numbers…

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $12,515.  

And the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $15,451
  • Rental Income: $1,600
  • Miscellaneous Income (rebates, reimbursements, etc.): $205 – flex reimbursements
  • Total Income: $17,256

Expenditures

  • Groceries: $541– particularly bad, I know!
  • Eating Out: $195
  • Total Food: $736
  • Mortgage: $1,123
  • Home Maintenance and Repairs: $654 – a year of pest control, plus a repair to the pool filter (hopefully the pool stuff is done breaking for now)
  • Renovations: $143 – mostly baseboard and a truck to get it home – the last room is being tiled!
  • Bills/Utilities for Primary Residence: $150
  • Total Home: $2,070
  • Gas: $216
  • Repairs & Maintenance: $75 – oil change items for Mr PoP to change the oil, plus some touch up paint to patch a ding Mr PoP got probably from a rock on the highway
  • NSX Payment: $727 – while we paid cash for the car, we opted shortly thereafter to take advantage of the stupid low rate our credit union was offering on car loans to take a loan on the car and have more money liquid in the market.  
  • Total Transportation: $1,018
  • General Shopping: $157 – mostly presents for others
  • Pet Supplies / Care: $14 – litter… the charge for Kitty PoP’s wormy-meds hasn’t come through yet, but that’ll be $18 on next month’s statement.
  • Total Shopping: $171
  • Gym / Fitness: $37
  • Medical Treatment/Visit: $50 – copays
  • Media Subscriptions: $9!
  • Total Health/Fitness/Entertainment: $46
  • Travel: $0
  • Total Miscellaneous: $0
  • Total “Personal Expenditures”: $4,091  ($3,221 net Reno and NSX payment)
  • Investment Properties: $650 – a year of pest control plus an emergency AC repair
  • Total Investment Expenses: $650
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $17,256 – $4,091 – $650 = $12,515

Principal Paydowns / Savings Allocations

  • Transfer to Holding Acct for 2017 Roth IRAs: $1,000
  • Transfer to Taxable Investment Account: $11,500
  • Total Principal Paydowns / Savings Allocations: $12,500
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $12,515 – $12,500 = $15 = Net Income

How was your income and spending this month?

 

 

5 comments to PoP Income Statement – August 2017

  • Jason

    I really don’t think your food budget is outrageous, especially given your other expenditures. Is cutting back by $100 really going to be that meaningful? Yes, it adds $1200 annually to savings, but If you can afford it, if it isn’t impacting you long term, and if it makes life easier by not requiring you to stress about how you shop, then I think it is something you may just want to become more “oi” about.

    thanks for sharing these details.

  • Looks like a good month to me! Haven’t run my numbers yet as my support check was late. (But complete!) I think my total spending came in around $2200, including my rent and back-to-school clothes for the boys, so that’s not bad at all.

    I see why the PP is arguing for not worrying about groceries, but I find it galling to not quite know how it adds up so fast. I don’t blame you for wanting to trim! I did well on groceries this month. Kept it to about $250 (boys with me half time) even though I bought lots of delicious fruits and veggies.
    Frugal Paragon recently posted..A Laundry Bag, a Boy Apron, and Napkins: More No-Pattern Sewing FunMy Profile

    • Late isn’t great – even if it was complete. Is there anything about late fees or penalties in your agreement to prevent that from becoming a regular occurrence?

      And yay for delicious fruits and veggies! Summer is the best time to load up on so many treats that are hard to come by other times of the year.

  • Shay

    I think you should payoff your house and car in 12 months and retire! You could payoff both ($8,166/month for 12 months) and retire with $3,000 a month in expenses. It seems with your retirement savings and rental income, that should be an easy number to hit.

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