PoP Income Statement – February 2016

Welcome to our January 2016 Income Statement!

We're getting into the wood for the butcher block counter - check out these cherry and walnut boards!

We’re getting into the wood for the butcher block counter – check out these cherry and walnut boards!

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 pretty good month for income and spending in the PoP household.  Mr PoP’s bonus check pushed our income up a good chunk (and also resulted in more being thrown into his 401K), our expenses were on the low side, too.

Though if January it felt like Mr PoP was dominating the expenses side.  It was apparently my turn in February with noteworthy spending coming from a new bike seat, helmet, and brakes for me.  The seat purchase happened earlier in the month, but the other two were a direct result of the crash.  My foot issues also saw $165 in medical spending and another $110 in new running shoes.  Luckily, they’re doing pretty well so far.  Fingers crossed as I try and increase my running slowly.  Rounding out the exercise/health front, I also bought a package of yoga classes to the tune of $250.  This should last me through the better part of a year of drop-ins at the yoga studio I go to.

And lastly, the travel expenses included a deposit for the Ecuador Chautauqua, which again is all for me, since Mr PoP will be going to Burning Man this year instead.

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $12,551.  

And the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $14,823
  • Rental Income: $1,600
  • Miscellaneous Income (rebates, reimbursements, etc.): $555
  • Total Income: $16,978

Expenditures

  • Groceries: $407
  • Eating Out: $171
  • Total Food: $578
  • Mortgage: $1,150
  • Home Maintenance and Repairs: $105
  • Kitchen Renovations: $363
  • Bills/Utilities for Primary Residence: $154
  • Total Home: $ 1,772
  • Gas: $87
  • Auto Repairs / Maintenance: $38
  • Total Transportation: $125
  • General Shopping: $416 – new bike seat + new shoes for running among other excitement
  • Pet Supplies / Care: $0
  • Total Shopping: $416
  • Gym / Fitness: $303 – normal gym fees + a bunch of yoga!
  • Medical Treatment/Visit: $165 – more foot injury costs…
  • Media Subscriptions: $8
  • Media/Entertainment Non-Subscription: $0
  • Total Health/Fitness/Entertainment: $476
  • Travel: $389 – deposit for Ecuador, net of refund for a cancelled marathon weekend
  • Total Miscellaneous: $389
  • Total “Personal Expenditures”: $3,756   
  • Investment Properties: $617
  • Total Investment Expenses: $617
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $16,978 – $3,756 – $617 = $12,551

Principal Paydowns / Savings Allocations

  • Transfer to Holding Account for Sunny Restoration: $1,500
  • Transfer to Holding Account for 2016 Roth IRAs: $1,000
  • Transfer to Taxable Investment Account: $10,000
  • Total Principal Paydowns / Savings Allocations: $12,500
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $12,551 – $12,500 = $51 = Net Income

How was your income and spending this month?

4 comments to PoP Income Statement – February 2016

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