PoP Income Statement – July 2017

The picture of health is a very good nuzzler!

The picture of health is a very good nuzzler!

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.

July was a pretty average month here in the PoP household. We had a couple of large-ish expenses, but we tend to have enough of those that it often seems it’s more a case of which lucky months don’t have any of those!

The first large-ish expense was paying for tickets to the Florida Camp Mustache which we’ll attend next January. If you’re going to be there, let us know – we’d love to say hello in person! =)

The second is our pool pump (the second month in a row the pool has been expensive!), whose motor died earlier this month. An attempted DIY repair ended up with a minor DIY fail (those happen!) and basically ate up all the savings from having a trusted pro replace the motor. So… the $350 pro job ended up costing $348 in supplies and 4 hours of Mr PoP’s effort. That division is not hard, but I will refrain from commenting on Mr PoP’s effective hourly rate of pay.

The last big category this month is for our duplex, whose flood insurance renewal premium was paid this month. We also had a long term tenant move out and the other tenant living in there had a partner move in. With that changeover, Mr PoP did some minor maintenance to the unit to freshen it up (<$175 in expenses), which is well worth it since the tenants in that unit have been amazing and have been there for 5 years requiring minimal maintenance for that whole time period. This is a huge DIY success, so on the whole, we at least balanced out, if not came out ahead on the DIY front this month. =)

Here’s all the rest of the numbers…

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $3,609.  

And the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $7,871 – we should finish maxing out 401K deposits next month and see more income flowing through here…
  • Rental Income: $1,600
  • Miscellaneous Income (rebates, reimbursements, etc.): $0
  • Total Income: $9,471

Expenditures

  • Groceries: $486 – oof, that’s a bit higher than we like, but it was 5 weekends (when we do most of the shopping… and our fridge is really and truly full right now!)
  • Eating Out: $105 – luckily lower spending eating out helped counteract it!
  • Total Food: $591
  • Mortgage: $1,123
  • Home Maintenance and Repairs: $418 – See above, re the pool.  =P
  • Renovations: $311 – had to replace a couple of tile laying tools that broke, as well as some other odds and ends
  • Bills/Utilities for Primary Residence: $166
  • Total Home: $2,018
  • Gas: $198
  • Repairs & Maintenance: $188 – the remaining AC related items, but it looks like the AC repair/rebuild was successful!  Yay Mr PoP!  (Another DIY win!)
  • 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: $1,113
  • General Shopping: $363
  • Pet Supplies / Care: $98 – Kitty PoP’s annual check-up.  This year he had 1 vaccine and is the picture of Kitty-health!
  • Total Shopping: $461
  • Gym / Fitness: $37
  • Medical Treatment/Visit: $50 – 2 copays
  • Media Subscriptions: $9!
  • Media Non-Subscription: $22 – Mr PoP went to see Dunkirk in the theater and the beer cost more than the movie!  
  • Total Health/Fitness/Entertainment: $68
  • Travel: $600 – Camp Mustache Florida 2018!  =)
  • Total Miscellaneous: $600
  • Total “Personal Expenditures”: $4,911  ($3,873 net Reno and NSX payment)
  • Investment Properties: $951 – again, the bulk of this is the flood insurance renewal. 
  • Total Investment Expenses: $951
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $9,471 – $4,911 – $951 = $3,609

Principal Paydowns / Savings Allocations

  • Transfer to Holding Acct for 2017 Roth IRAs: $1,000
  • Transfer to Taxable Investment Account: $2,000
  • Total Principal Paydowns / Savings Allocations: $3,000
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $3,609 – $3,000 = $609 = Net Income

How was your income and spending this month?

 

 

5 comments to PoP Income Statement – July 2017

  • This month was ok on the expenses. A bit higher than usual due to paying the contractor money (I wish I hadn’t. She did a terrible job so I fired her). I will also be going to CMSE! Which week are you going to? I’d love to see you two again!
    Gwen @ Fiery Millennials recently posted..You Suck….. and It’s OkMy Profile

  • Mr Pop’s DIY pool pump fail is a good illustration of why it’s good to skip the DIY route sometimes. If it’s something I’m likely to do only a few times in my lifetime, I could learn it and possibly screw it up, learn from my mistakes, then not have to do it again for another 15 years, forget what I learned and screw it up again… So we call in the experts for those weird unique repairs.

    It took me a minute to understand the Dunkirk comment… “Did he sneak beer into the theater?” Then I remembered FL must be one of those states that lets movie theaters serve alcohol! NY has bizarre liquor laws, one of which is that movie theaters can serve alcohol only if they also serve “restaurant style” food. Even the governor is trying to change that one.
    Norm recently posted..Who Needs a DRIP Fund?My Profile

    • mrplantingourpennies

      We almost left this one to the Pros, but it looked like we could save about 150$ by DIYing it. I’ll likely replace the pool pump 2-3 more times over the years, so I’ll be able to use the knowledge I gained to get the next one right.

      Beer in the theatre was new for me too…I like having a IPA with my films though!

  • I got scolded by a reader for taking my kids to the amusement park and the cat needs her teeth cleaned. Otherwise, we’re hanging in there!

  • jestjack

    Isn’t it heartbreaking when a good….great tenant…leaves? Five years is a good run though…I currently have a tenant who has been with me 8 years but I’m getting ready to raise the rent…We’ll see how that goes…

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