PoP Income Statement – February 2017

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've been going on a lot of beach walks lately, enjoying the remaining cool mornings and the critters like this guy that are out in the mornings to say hello!

We’ve been going on a lot of beach walks lately, enjoying the remaining cool mornings and the critters like this guy that are out in the mornings to say hello!

February is a short month, but we managed to spend an extraordinary amount of money in those 28 brief days.  Taking out what we spent on Mr PoP’s new car, it’s actually pretty good, but there are a couple of categories that were significantly higher than usual.  

First was groceries.  Honestly, this was  insanely high for us.  We went overboard purchasing when we were having friends and family over for a few different meals, which I know counted for some of that. 

Some of it also went literally down the drain! I was draining the pasta just before we were going to sit down to eat with friends as part of a pasta-primavera dinner when the handle on my colander snapped and the entire pot of pasta went down the  garbage disposal in a second.  Bless her heart, our friend walked over, pulled a strand of angel hair out of what was still sticking out of the disposal, ate it and said, “It’s a shame, because you cooked this to perfection!”  What an awesome friend, right?  =)  And luckily I had very over-purchased and had plenty of vegetti-noodles that people had instead of the actual pasta and it turned out to be a very tasty, and even healthier than intended, meal.

Hosting others aside, I apparently didn’t stay on top of grocery spending this month very well at all.  =/  The good news is that I know very little of it went to spending on junk food as both Mr PoP and I are trying to eat pretty clean these days to get back in “fighting shape” after dealing with general holiday food splurging combined with (for me) post foot surgery activity limitations.  Nonetheless, I’ll try not to make $500+ grocery months a regular occurrence, which I think I can do even eating very cleanly with a little more diligence.  

Last minute addition: I figured out at least part of the insane grocery costs in February when I went to the grocery Thursday night.  Twice in February I picked up a package of pine nuts at Publix not realizing how much they cost, but knowing they were in this recipe for kale salad that I was making for Mr PoP (he likes it!).  As I found out when I was buying another container of them today, I have been paying $10 for a tiny 5oz container of pine nuts!  That’s $32/lb!  

I did that twice in February and once more last night… I told Mr PoP when he got home and he said they were good, but not better than a pound of olive bar olives and tiny mozzarella balls which he would much rather have for $10.  I gave him the pine nuts and the receipt and told him he was welcome to exchange them.  We’ll figure something else out for the kale salad and I need to start making sure I stop buying things without knowing how much they cost, since it’s rarely LESS than I would guess. =)

Our Gym/Fitness category was pretty high in February, too.  I bought a class pass to my favorite yoga studio, but then Mr PoP and I also switched gyms and got hit with a modest activation fee for doing so.  Even accounting for the activation fee, it’ll pay off to switch within about 4 months, and so far we’re enjoying the switch, so we’re not too concerned about this category being a bit high.  

Combining that with the car purchase, though, and the spending was pretty insane.  

Despite a pretty healthy income including a bonus for Mr PoP (though this time of year rougly 50% of that gross is being funneled off for 401K deposits and federal taxes), we spent enough to pretty much completely counteract the high income month.  Basically nothing really to set aside this month, waiting on completing the car loan (info on that in this post) to rebuild cash buffer and get more money working for us again after the big splurge that was Mr PoP’s car.  

Here’s all the dirty numbers…

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $470.  

And the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $15,370 – Mr PoP got a bonus, yay!
  • Rental Income: $1,600
  • Miscellaneous Income (rebates, reimbursements, etc.): $0
  • Total Income: $16,970

Expenditures

  • Groceries: $573 – eep!
  • Eating Out: $189
  • Total Food: $726 – significantly higher than usual
  • Mortgage: $1,123 – actually down due to our escrow change
  • Home Maintenance and Repairs: $75
  • Renovations: $430 – tiling and baseboard stuff.  Mr & Mrs 1500, the guest room is ready whenever you are!  
  • Bills/Utilities for Primary Residence: $151
  • Total Home: $1,779
  • Gas: $187
  • Fun Car: $12,689 – this represents the price + delivery + new parts + taxes – the $30K loan we are in the midst of trying to complete.  More details here. =P
  • Car Insurance – $184 – insurance on the new car
  • Total Transportation: $13,060
  • General Shopping: $187 – A fancy new colander is included in this total.  =)
  • Pet Supplies / Care: $0
  • Total Shopping: $187
  • Gym / Fitness: $363
  • Medical Treatment/Visit: $7
  • Media Subscriptions: $8
  • Total Health/Fitness/Entertainment: $378
  • Travel: $329
  • Total Miscellaneous: $0
  • Total “Personal Expenditures”: $16,459
  • Investment Properties: $41
  • Total Investment Expenses: $41
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $16,970 – $16,459 – $41 = $470

Principal Paydowns / Savings Allocations

  • Transfer to Holding Acct for 2017 Roth IRAs: $0
  • Transfer to Taxable Investment Account: $0
  • Total Principal Paydowns / Savings Allocations: $0
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $470 – $0 = $470 = Net Income

How was your income and spending this month?

 

 

11 comments to PoP Income Statement – February 2017

  • A finished guest room near the ocean? An NSX? Watch out what you volunteer; we may come down and never leave!
    Carl recently posted..Friday Mindfulness: Wonderful Warren, Pianos and NYC PizzaMy Profile

  • Congrats on getting the tiling done! Does that mean the whole house is now tiled up? Do you have any more projects in the works, or will you take a break?

    February was a really nice, low-spend month for us. We were busy much of the month and just didn’t spend stuff. Oh, until the very end — we had two family days where we spoiled our daughter over our spring break by visiting an aquarium, doing rides at the Mall of America, etc. But all that was a very fun day for still less than $100 as a family.

    I kicked off March by purchasing a new mac (my laptop is 5 years old) that I’ve been saving up for over time. I suppose it “spoils” my March spending, but I’m okay with it. I’ll schedule newborn photos soon too, and those are the last big splurges we have until after the baby comes. We’ve requested a bigger apartment here on campus; if we do get to move, we will need to buy bookshelves and some miscellaneous furniture things, as it’s both a bigger place and doesn’t have the built-in bookshelves our current place does.
    Leah recently posted..A little sparkleMy Profile

    • Sadly the tiling isn’t done. We had 3 bedrooms to do, and that was just the first one. =P The next one is a little smaller, so hopefully will also go pretty quickly, but the last is our master and the walk-in closet, so it’ll take some time. My guess is at this rate all the tiling will hopefully be done by early summer.

      Oooh, the aquarium with your daughter sounds lovely! I love aquariums! =) And I hear you on getting the new laptop, even when it’s planned it still momentarily stings to actually swipe the card to pay it. I’m hoping to get another few years out of mine yet!

      • I actually went for a desktop for the bigger harddrive space. I take so many photos! My computer now doesn’t have enough HD space to process the photos. My plan is to move all my files and such to the desktop, purge and reformat my laptop, and hopefully get a few more years out of a stripped down laptop with lots of space. When the HD is full, that’s taxing on laptop performance.

        I hope you reach the tiling finish date soon!

        The aquarium was so much fun. She loves them. We seriously schedule vacations around awesome aquariums. Speaking of, the Georgia Aquarium in Atlanta is amazing and totally worth doing. If you go, buy tickets in advance to save a good chunk of change. I think that’s my favorite, tho Shedd in Chicago is also good.
        Leah recently posted..A little sparkleMy Profile

  • We went way overboard on eating out in February. I say “we” but it was honestly all Marge, spending hundreds on eating out on a trip to Las Vegas. Who knew food was so expensive in Vegas? I like to keep our Dining expense under $1,000 for the year, but those four days in Vegas might’ve spoiled that this year. Luckily she didn’t spend much else, doesn’t like gambling, and the flight was free. I think all our other expenses were par for the course.
    Norm recently posted..Norm’s $35 Oscar Movie RoundupMy Profile

    • FWIW, we don’t include eating out on vacation in our “eating out” category. We just include that with our daily travel spending. We used to combine them and it ended up creating weird tension when one of us would go out of town without the other, so it’s better for us just to split the two categories entirely. =P

  • Pine nuts are super pricey! I use them in pesto but I get them at Trader Joe’s, where they are not too bad. Definitely not $32/lb!

    I had a good month. I loosened the purse strings and bought, for instance, 3 pairs of shoes (all replacements for worn-out pairs). See, I got my tax refund and thought I could buy new shoes and still have tons left over for savings.

    But even better: I’ve been getting enough hours at my job that my regular earnings covered it! Woot! Every penny of tax windfall available for saving!
    Frugal Paragon recently posted..February 2017 Spending: In the BlackMy Profile

    • Shoot I was just at TJ’s this weekend and forgot to look for pine nuts! Oh well. Mr PoP did end up returning the pine nuts – he bought brie and olives from the olive bar and much preferred those treats, and then I put raw sunflower seeds in his salad instead. Not quite a tasty as pine nuts, but way way way cheaper!

      So glad that you not only got to loosen the purse strings a little, but also got to bank the entire windfall! That is an excellent month!
      Mrs PoP recently posted..PoP Income Statement – February 2017My Profile

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