PoP Income Statement – July 2012

20120801-205220.jpgIt was a pretty good month here for the PoP family. Income was significantly higher than usual as Mr PoP earned a bonus at work (yay for an extra $3.5K or so) and we also had almost $2K in miscellaneous income come in. The miscellaneous income was mostly reimbursements for medical payments that had already gone out, so it’s kindof a wash when you look at the whole year. Regardless, it still feels good to have it back in our pockets.

The Result

  • Earnings before principal paydowns and savings allocations of $8,213! Not too shabby!

So here are the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $11,195
  • Rental Income: $1,125
  • Miscellaneous Income (rebates, med reimbursements, etc.): $1,997
  • Total Income: $14,317

Expenditures

  • Groceries: $479
  • Eating Out: $412
  • Total Food: $891
  • Mortgage: $1,185
  • Home Maintenance and Repairs: $606
  • Total Home: $1,791
  • Gas: $434
  • Auto Repairs / Maintenance: $45
  • Total Transportation: $479
  • Bills/Utilities for Primary Residence: $400
  • Bills/Utilities for Investment Properties: $354
  • Total Bills / Utilities: $754
  • Interest Payments on Non-Mortgage Debt: $1,440
  • Car Loan Payments: $265
  • Total Interest / Car Loan Payments: $1,705
  • General Shopping: $198
  • Pet Supplies / Care: $98
  • Total Shopping: $296
  • Gym / Fitness: $73
  • Media Subscriptions: $34
  • Media – Non Subscription: $21
  • Total Fitness/Entertainment: $128
  • Doctor’s Visits (reimbursable): $60
  • Total Doctor’s Visits: $60
  • Total “Everyday Expenditures”: $6,104

Earnings Before Principal Paydowns / Savings Allocations (EBPPS)

  • EBPPS = $14,317 – $6,104 = $8,213

Principal Paydowns / Savings Allocations

  • Principal on HELOC: $6,000
  • Transfer to IRA Holding Account: $1,000
  • Set aside for New Computer Purchase: $1,000
  • Total Principal Paydowns / Savings Allocations: $8,000

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

  • $8,213 – $8,000 = $213 = Net Income

So our cash accounts grew by $2,213 (the $2,000 in growth of the holding account for the Roth IRA and the computer, plus the $213 in net income) in the month of July 2012, and we paid $6,000 in non-mortgage debt off.

 

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