Welcome to our March 2014 Income Statement!
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.
Overall, March was pretty average in terms of where we like to see our spending, which is nice considering we did have a few fairly sizable very irregular purchases in there that totaled over $1,000. Mostly boring, but that’s the way things go sometimes, huh?
The Bottom Line
- Earnings before principal paydowns and savings allocations of $4,209.
And here are the details…
- Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $6,815
- Rental Income: $1,525
- Miscellaneous Income (rebates, reimbursements, etc.): $11
- Total Income: $8,351
- Groceries: $359 – not bad on the $350 goal considering I have a $10 rebate coming in the mail…
- Eating Out: $257
- Total Food: $616
- Mortgage: $1,213
- Home Maintenance and Repairs: $410 – about $200 on 4 big screens for the lanai, and another $200 or so for Mr PoP’s sawhorse project which we hope to share finished here soon
- Total Home: $ 1,623
- Gas: $274 – This includes 3/4 of a tank put into the Jeep…
- Auto Repairs / Maintenance: $34
- Total Transportation: $308
- Bills/Utilities for Primary Residence: $242 – I love how low this is after switching to Ting for our iPhones!
- Bills/Utilities for Investment Properties: $41
- Total Bills / Utilities: $283
- General Shopping: $609 – here we spent money so Mr PoP can make some money. About $350 went into making his work environment quieter and more ergonomic. We also got me some awesome fenders for my bike!
- Pet Supplies / Care: $0
- Total Shopping: $609
- Gym / Fitness: $373 – bought a pass to a new yoga studio that should last me until the end of the year.
- Medical Treatment/Visit: $304 – need to file for a reimbursement out of Flex!
- Media Subscriptions: $8
- Media/Entertainment Non-Subscription: $40
- Total Health/Fitness/Entertainment: $725
- Travel: $0
- 501c3 Charity: $0
- Total Miscellaneous: $0
- Total “Everyday Expenditures”: $4,164
- EBPPS = $8,351 – $4,164 = $4,187
Principal Paydowns / Savings Allocations
- Holding Acct For Roth 2014 IRAs: $1,000
- Transfer to Taxable Investment Account: $3,200
- Total Principal Paydowns / Savings Allocations: $4,200
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
- $4,187 – $4,200 = –$13 = Net Income
How was your income and spending this month?