PoP Income Statement – June 2014

Welcome to our June 2014 Income Statement!


Kitty PoP hiding in the laundry hamper from a summer storm.

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.

Sorry for the radio silence on the blog here lately. We’ve been pretty bogged down with some craziness both in work and personally, and hopefully most of that will settle soon enough to do some more sharing about where things ended up in the meantime.

Income this month was pretty average. We did get a slight boost in the rental income thanks to new tenants that moved in at a slightly higher ($25!) rent than the ones they are replacing, so that’s nice.

On the expenses side, I was surprised it turned out as well as it did (slightly below what we aim for) given the several irregular and one-off expenses that occurred this month: 6 months of car insurance (lower thanks to being a 1 car family now!), spending $300 to pay back Mr PoP’s folks after that fiasco, and paying $450 upfront for 3 nights for AirBnB in New Orleans later this year for a wedding. (Have I mentioned how much we feel like everyone should just elope?)

A smaller item(but still of note) that won’t really show up in our income statements, but will be worth $240 in reduced expenses in the next few months is a credit that we got through a Ting promotion. Remember how we told you about using Glyde to swap our Verizon iPhones for Sprint/Ting iPhones when we switched our cell phones to Ting? Well, now they have a promotion where they will refund you the difference and the Glyde fees on your swap. I applied on a lark, knowing we might not be eligible since we completed our swap in February (Mr PoP even made fun of me for applying it had been so long), but they gave it to us! So even though we had already paid our bill for this month, we now have enough credits from the swap that we won’t pay a phone bill for the next 5 or 6 months. Seriously. I can’t say enough good things about Ting. If you want to give it a try, feel free to use this referral link for Ting as proceeds will go to pay for this blog’s expenses.

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $4,269.

And here are the details…


  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $7,106
  • Rental Income: $1,575
  • Miscellaneous Income (rebates, reimbursements, etc.): $226
  • Total Income: $8,907


  • Groceries: $422 – we ate ALL THE THINGS! Well, and we stocked up on protein powder at Amazon which goes in this spending….
  • Eating Out: $228
  • Total Food: $650
  • Mortgage: $1,213
  • Home Maintenance and Repairs: $92
  • Bills/Utilities for Primary Residence: $272 – Includes our $47 bill on Ting for 2 iPhones!
  • Total Home: $ 1,577
  • Gas: $288
  • Auto Repairs / Maintenance: $42
  • Car Insurance (6 mos): $330
  • Total Transportation: $660
  • General Shopping: $481 – includes paying Mama & Papa PoP back for that PayPal fiasco!
  • Pet Supplies / Care: $19
  • Total Shopping: $500
  • Gym / Fitness: $53
  • Medical Treatment/Visit: $88
  • Media Subscriptions: $8
  • Media/Entertainment Non-Subscription: $0
  • Total Health/Fitness/Entertainment: $143
  • Travel: $450 – AirBnB booked for a wedding this fall!
  • Total Miscellaneous: $450
  • Total “Personal Expenditures”: $3,986
  • Investment Properties: $652 – flood insurance renewal, referral fee for new renters (no vacancy!), and a repair
  • Total Investment Expenses: $652
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $8,907 – $3,986 – $652 = $4,269

Principal Paydowns / Savings Allocations

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

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

  • $4,269 – $4,000 = $269 = Net Income

How was your income and spending this month?


25 comments to PoP Income Statement – June 2014

  • Wow, $4k into investment accounts sounds great, especially after a tough month like that. Great job!
    FI Pilgrim recently posted..June In Review – Income Expense and Net WorthMy Profile

  • Your car insurance is really cheap. I pay almost twice as much for 6 months lol. Great job on saving over $4K in June to help grow your net worth. I’m looking forward to see balance sheet :) Can I still use Ting if I don’t have a smart phone?
    Liquid recently posted..Fiscal Update June 2014 – New AssetMy Profile

    • I’ve heard car insurance is insanely expensive in Canada… I think ours is pretty typical for our area, though.

      Ting definitely works for non smart phones, you just don’t pay any data fees. Not sure if it works in Canada, though. =)

  • Great work on your savings for June!

  • This month I got a month of summer salary because I’m on a grant. When I got the income statement, I first thought they’d made a mistake because it was twice what my regular take-home pay is. But then I remembered that I’d paid all our benefits costs for the summer in the last paycheck and I’m not set up to take out dependent day care money or extra retirement money in the summer because they’re all maxed out during the school year. So it was like getting two unexpected paychecks this month!
    nicoleandmaggie recently posted..Trustworthy peopleMy Profile

    • Nice unexpected bonus!

      • It probably would have been nicer *with* the tax breaks rather than without (which is where the money usually goes before I see it), but it did cause us to have the tearing out the bathroom carpet discussion again yesterday. Maybe sometime we’ll actually do it!
        nicoleandmaggie recently posted..Trustworthy peopleMy Profile

        • anytime you’re considering taking out that bathroom carpet, I think it’s a good thing! Bathroom carpet should be banned in all 50 states. So gross. =)

  • “We’ve been pretty bogged down with some craziness both in work and personally, and hopefully most of that will settle soon enough to do some more sharing about where things ended up in the meantime.”

    Hope everything is OK down there! Enjoy the summer. Life is too short to blog all of the time. Wait, you are in Florida in the summer. Perhaps indoors is better?!?
    Mr. 1500 recently posted..Performance Update 18/50: June SwoonMy Profile

  • How expensive are hotels in NO that you had to pay $150 per night for AirBNB? Or are you staying someplace super nice and not shared?

    We only had a good month because we got a bunch of reimbursements back from our workplace. We spent a lot (for us . . . ) on baby expenses, including medical stuff. No baby yet, and it’s July 1, so my deductible has reset. I think that’s ultimately a good thing. We also bought a new bike rack. Our spending was all well thought out but more than we usually do.

    We normally travel in the summer and thus spend lots of time with family and friends. One perk of staying home this summer, we’ve discovered, is that there’s all sorts of easy little side work we can pick up. My husband is doing the bulk of it by doing dorm duty for summer camps. We figure that we live in the dorm anyway, and we’ll be here with a newborn/not traveling. We’ll be using the extra money to make sure our Roths get fully funded even though we’re taking on the added expense of daycare and diapers. That’s been an exciting money development!
    Leah recently posted..Our Home, June 2014My Profile

    • The hotels we looked at would have been that much and required us to do cabs/car rentals since they weren’t near any of the venues. So instead we booked an AirBnB that we should be able to walk to pretty much everything… and we splurged for the private dwelling since we didn’t want to feel like we were walking on tiptoes if we had late nights. Expensive, but hopefully we made the right choice given the constraints.

      Nice way to double the bonus of staying home… reduced expenses (well, except for the baby part) and extra income. =)

  • Great job on your income! =) I agree with you that everyone should elope, especially if the alternative is a location wedding. Yuck.
    Holly@ClubThrifty recently posted..The Secret Way to Save Money on Fireworks This YearMy Profile

  • Is your wedding at FinCon? Is someone getting married during my podcasting session? :-) Hope you’re attending. This year the breakouts look awesome.
    AverageJoe recently posted..Is the 401k Broken?My Profile

    • haha, sadly you won’t be needing that internet ordainment. Because of the wedding, we’re not going to be able to make it to FinCon this year. =(

  • I’m totally with ya on eloping. We did and have never regretted it.

    Good month on the income and expenses. Ours was pretty good due to increased income but July should be better.
    ND Chic recently posted..July 2014 Grocey ChallengeMy Profile

  • Nice savings! And that’s in addition to your 401(k)s.
    Mom @ Three is Plenty recently posted..$200 Grocery Challenge ResultsMy Profile

  • Super impressed by your grocery budget. I’m with you on the weddings, the expectations and cost of simply attending is totally outrageous!
    Stefanie @ thebrokeandbeautifullife recently posted..Thank You For Your SuccessMy Profile