PoP Income Statement – February 2014

Welcome to our February 2014 Income Statement!

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Say hello to Beri the miracle fruit plant! Kitty PoP likes her a little too much…

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.

February was a solid and uneventful month when it came to our income and spending, but actually a nice and somewhat eventful month for us personally. I ran a marathon, have been cooking a lot in my brand spanking new pressure cooker/slow cooker/yogurt maker (the Instant Pot IP-DUO60), we hung out with a lot of good friends, and perhaps most exciting – I bought a miracle fruit plant. Now I just need to properly care (and keep Kitty PoP from eating it) for it for a few years until I can get it to fruit! Then we’re in for some HUGE excitement. =)

All in all, a solid start to the new year.

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $4,705.

And here are the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $6,667
  • Rental Income: $1,525
  • Miscellaneous Income (rebates, reimbursements, etc.): $0
  • Total Income: $8,192

Expenditures

  • Groceries: $334
  • Eating Out: $279
  • Total Food: $613 – slightly over the $600/month goal, but not gonna sweat it!
  • Mortgage: $1,213 – escrow adjustment, and making up for a small shortage…
  • Home Maintenance and Repairs: $58
  • Total Home: $ 1,271
  • Gas: $265 – Q1 Car Challenge is going really well – this is even with a weekend trip out of town!
  • Auto Repairs / Maintenance: $7
  • Total Transportation: $272
  • Bills/Utilities for Primary Residence: $268 – for some reason our internet hit twice this month on autopay…
  • Bills/Utilities for Investment Properties: $91
  • Total Bills / Utilities: $359
  • General Shopping: $132
  • Pet Supplies / Care: $0
  • Total Shopping: $132
  • Gym / Fitness: $138 – registered for a race!
  • Medical Treatment/Visit: $0
  • Media Subscriptions: $8
  • Media Non-Subscription: $20
  • Total Health/Fitness/Entertainment: $166
  • Travel: $664
  • 501c3 Charity: $10
  • Total Miscellaneous: $674
  • Total “Everyday Expenditures”: $3,487
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $8,192 – $3,487 = $4,705

Principal Paydowns / Savings Allocations

  • Holding Acct For Roth 2014 IRAs: $1,000
  • Transfer to Taxable Investment Account: $3,700
  • Total Principal Paydowns / Savings Allocations: $4,700

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

  • $4,705 – $4,700 = $5 = Net Income

 

How was your income and spending this month?

39 comments to PoP Income Statement – February 2014

  • So that’s the miracle berry you were talking about! I am pretty curious about it, hope yours starts growing well. Do you just eat them or make recipes too, like with sour ingredients?
    Pauline recently posted..February blog incomeMy Profile

    • Yup – that’s the fruit! =)

      I’ve never heard of people cooking with it, since I think the “miracle” protein is broken down with heat. But maybe it is done?

  • What in the world is a miracle fruit??

    Our income took a slight hit this month because we got snowed in for two extra days on vacation. Greg took those days unpaid and I couldn’t work those days =( Oh well.
    Holly@ClubThrifty recently posted..Should All Moms be Stay-at-Home Moms?My Profile

    • Miracle fruit is an african bush that grows little red berries called “miracle berries” or miracle fruit. They taste pretty plain on their own, but they have a protein in them called miraculum (no lie, that’s really what it’s called!) that basically blocks the bitter and sour receptors in your mouth. So for the next half hour or so, you can’t taste the bitter or sour parts of what you’re eating. ie lemons taste like lemonade. It’s really cool.

      Sorry about the unexpected vacation extension. Hopefully it was still a great trip!

  • Whoa, I’ve never heard of miracle fruit before. It sounds like something out of. Scifi movie. Good luck!
    Cash Rebel recently posted..Making time to writeMy Profile

  • A miracle fruit has to be good, right?!

    Almost $5k contributed to savings allocations is pretty good going (especially as your mortgage repayment will also partially be going towards “savings”). Nice one PoPs!!
    moneystepper recently posted..2014 Goals – February update of my 2014 goalsMy Profile

  • I love financial updates but it reminds me that single income people, me, have a harder time of it than couples. Even if I split expenses with a minimum wage person ($10.25) I would be much further ahead than just plugging away with my income.

    I guess I could get another job and make more money myself but that sounds exhausting and I am kind of lazy.
    jane savers @ solving the money puzzle recently posted..How Much Should A Wardrobe Budget Be?My Profile

    • It’s true – having a partner with the same goals and work ethic is one of those equations where 1 + 1 > 2. But on the other hand, having one who works against you can make it so 1+1 < 1. =(

  • I love uneventful months! My month started off that way until I had to get a new car. Slightly unexpected. My spending was good this month, but my income was pretty bad. I’ll use that as motivation to look for new clients and sources of income.
    Tonya@Budget and the Beach recently posted..February Recap/March GoalsMy Profile

  • Miracle fruit sounds interesting!

    We had a good income month, but a REALLY bad spending month. Like, it’s so bad that I’m trying to push it out of my mind.
    Michelle recently posted..$13,454 in February Business Income – I Bought Another WebsiteMy Profile

    • Wedding stuff making your expenses climb up? On the bright side, you guys are only ever planning on getting married once… =)

  • Congrats on the marathon – and the miracle berries are kinda freaky when you experiment with them.
    We had a pretty normal month in terms of overall spending, but it was spent in unexpected places – and made up for in others.
    Mom @ Three is Plenty recently posted..Index Investing Small AmountsMy Profile

    • you mean “kinda freaky awesome”! =)

      Funny how some months work out like that. Was the balancing out intentional or did it just happen naturally?

  • That looks like a really cool pot. We’ve been pondering getting a pressure cooker, but the stovetop versions freak us out.

    • The instant pot is REALLY cool. I’m also pretty terrified of the stovetop versions, but this one had good reviews and was mentioned as a good one for pressure cooking beginners and people who don’t want to have to sit and watch the stovetop pressure cooker. If you’re interested in learning more about pressure cooking, check out hippressurecooking.com. This is actually the best comparison I found of the two types of pressure cookers and the commenters really show that there’s a big divide among people who love one type and hate the other:
      http://www.hippressurecooking.com/the-difference-between-stove-top-and-electric-pressure-cookers/

      But with the Instant Pot, I also love that we paid the extra $10 or so to get the one with the yogurt maker built in. The yogurt that comes out of it is REALLY good. As in, after I strain it in a coffee filter, it’s actually better than the CABOT plain greek yogurt we had been buying at Publix for $1+/serving. Less sour, no aftertaste. So good. With good honey or some fresh strawberry jam… mmm….

  • Wow! Flavor tripping? Miracle Fruit? Normally I’m quite interested in your monthly income statements, but this time that Miracle Fruit took the cake lol! I clicked on the link and read the entire article on those Flavor Tripping parties. They sound wild! How did you hear about it? Was it hard to find the plant?

    As for the normal stuff – do you need to wait until next month to get reimbursed for being charged twice for your internet? Sounds like bad customer service. Congrats on your marathon! :)
    Sharon recently posted..“Someday” is not on the calendarMy Profile

    • I can’t remember where I first heard about it, but a friend and I got to try them when we went to the Miami Fruit and Spice Park (a tropical botanical garden with plants from all over the world) back in 2008. I was hooked and have been on the lookout for a plant ever since! This one I found at a local garden club sale and I literally got the last one. =)

      I’ll probably call the internet folks… my guess is that they changed their billing pattern so there’s not quite as long of a period between the end of the billing cycle and the due date. And for us, this time they happened to hit twice in the month – once on 2/2, the other on 2/27.

  • Wow what? Miracle fruit? I’m intrigued, and at $2 a berry it might be worth it to grow your own plant.
    Love seeing your income statements, it always reminds me we have to get out of academia and check out the private sector.
    Mrs. Southbound Savers recently posted..Financial Update February 2014My Profile

    • I doubt the miracle fruit will ever become a side business, but hopefully it’ll be fun for family and friends =)

      As for academia, I hear you. We have friends that are still in PhD programs or in their first post doc and feel like they’re on a delayed track because they’re hitting their 30’s and feel like they’ve never earned and “adult salary”. But a lot of them still love their jobs and the lifestyle they found in academia, so there are pros and cons to both.

  • Heidi

    What is a miracle fruit?

    I’m sure you know this, but putting a mesh netting, and maybe some lemon or cayenne pepper scent around your plant will make it less interesting (most of the time) to kitties. Are miracle fruit plants non-toxic to cats? I’d love to have some non-toxic (to cats) indoor plants again when my kitten gets a little older.

    • Beri the miracle fruit plant actually has her own cylinder made out of chicken wire that goes around the pot to prevent Kitty PoP from getting too close. Oddly Kitty PoP doesn’t eat other plants on the patio, but 5 minutes of sitting out there and he had happily eaten a leaf. When I took the chicken wire cage off to get a picture for this post, Kitty PoP came over and you can see the photographic evidence that he was trying to get another taste! So far no side effects, so I assume non-toxic… But it’ll never grow if he keeps eating it (hence the chicken wire)… what a crazy cat.

  • Heidi

    What is a miracle fruit?

    I’m sure you know this, but putting a mesh netting, and maybe some lemon or cayenne pepper scent around your plant will make it less interesting (most of the time) to kitties. Are miracle fruit plants non-toxic to cats? I’d love to have some non-toxic (to cats) indoor plants again when my trouble-maker kitten gets a little older.

  • Never heard of miracle fruit before. Sounds pretty cool!
    Matt Becker recently posted..Retirement Planning the Easy WayMy Profile

  • Gotta try some of those miracle fruits. February was oddly a long month with Jim out of town two weeks on two separate trips for work. Being a single parent is exhausting, and I’m not sure how people do that full time. I was too tired to spend money though!
    Kim@Eyesonthedollar recently posted..Would You Sell Your House If It Meant Debt Freedom?My Profile

    • Single parenthood does sound exhausting – but I bet you appreciate Jim all the more when he’s back after trips like that. =)

  • Like every commenter above, I’m much interested in learning more about this miracle fruit. But it sounds lik eyou had a pretty solid month. Of course, the uneventful ones usually are pretty solid.
    Ryan @ Impersonal Finance recently posted..travel is historically cheap, but you can still save on itMy Profile

  • Great month as usual! I don’t know if it’s just me, but I love that there’s a $5 remainder for a net income at the end of the month. That’s rad.

    Best of luck with the upcoming race!
    Done by Forty recently posted..Relative CostsMy Profile

  • You win at life today. I try to find something interesting to tell the hubs about at night and I really hope he has not heard of this berry yet. This is the kind of thing that he’ll love!
    Cat Alford (@BudgetBlonde) recently posted..Don’t Be Scuured: Checking Your Credit ScoreMy Profile

  • Okay so OF COURSE he has heard about them!! This is my daily challenge, Mrs. PoP, to try to teach hubs something he does not already know lol!
    Cat Alford (@BudgetBlonde) recently posted..Don’t Be Scuured: Checking Your Credit ScoreMy Profile

  • Wow! Flavor tripping? Miracle Fruit? Normally I’m quite interested in your monthly income statements, but this time that Miracle Fruit took the cake lol! I clicked on the link and read the entire article on those Flavor Tripping parties. They sound wild! How did you hear about it? Was it hard to find the plant?

    As for the normal stuff – do you need to wait until next month to get reimbursed for being charged twice for your internet? Sounds like bad customer service. Congrats on your marathon!
    Sharon recently posted..“Someday” is not on the calendarMy Profile

  • That pressure cooker sounds cool! It’s actually not available on Amazon anymore :-(. I keep thinking about making my own yogurt but I’m not convinced that it would be really worthwhile.

    I fell way short of where I wanted to on income for February… I work from my computer and it went dead! The new one was delayed by the winter storm and I wound up missing almost a whole week of work. Off to a great start in March, though!
    Frugal Paragon recently posted..Doing Without–And NotMy Profile

  • I’d never heard of a Miracle fruit plant until today, pretty neat. If Kitty pop is anything like our naughty cats h already planning a way to break through the chicken wire (our cats love to eat anything green-they sneak on the mantle sometimes to try to eat my plants-they jump from the dining room table, it’s a pretty impressive feat given how uncoordinated they are!).
    KK @ Student Debt Survivor recently posted..I’m I enabling money misbehavior?My Profile