PoP Income Statement – March 2014

Welcome to our March 2014 Income Statement!

20140401-185618.jpg

Screens being redone – so worth outsourcing for the high and big panels!

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…

Income

  • 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

Expenditures

  • 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
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • 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?

22 comments to PoP Income Statement – March 2014

  • Boring is great, well when it comes to finances. Other times, not so much. Looks like a pretty good month w/ over $4k for principal paydown and savings. That’s great! I still need to tally up my expenses for the month, sadly I slacked horrible throughout the whole month and I have a feeling it’s not going to be pretty. Have a great April!
    JC @ Passive-Income-Pursuit recently posted..Position Closed – Intel Corporation (INTC)My Profile

  • You guys track things about a million times better than I do. Ha!

    Great job on the income and spending!!! =)
    Holly@ClubThrifty recently posted..Club Thrifty April Budget BreakdownMy Profile

  • I like boring when it comes to finances too! Great job!
    Laura @ nomorespending recently posted..Monthly Budget Round-Up: March 2014My Profile

  • Is the work environment expenses for his actual workplace or at home when he’s working? B works quite a bit at home and has some back problems that come and go that I think is related to this, so I’m curious to see what ergonomic purchases were made so maybe it could help him (but, obviously, if it’s too personal then no worries). Great job, as always, PoP’s!
    anna recently posted..Honeymoon 2 of 3: Easter Island!My Profile

    • Mr PoP got a new cube neighbor who’s quite the Chatty Cathy, so he bought some noise canceling headphones as well as a new ergonomic mouse when his cheapie one that work gave him died.

  • I hope to get this good with tracking my spending and budgeting in the future. My fiance and I are trying to pay down debt so this blog is really helpful!
    Candice recently posted..Not Investing In Your Business Is The Worst Mistake You Can MakeMy Profile

  • I am working on trying out new yoga studios too… I have a prepaid membership at one until mid-December, but it is a 15-30 minute drive away and I’m not very inclined to drive that far. So I’m trying to go there once a week when possible and otherwise try out closer places in the hopes that that will motivate me better to actually go. I found two places that are about a 10-15 minute walk away and one is halfway between home and work, so I might give each a try for a month and then see how I feel.

    I love seeing your $3,200 go to your taxable investment account! Why haven’t you maxed out your 2014 Roth IRAs already? Are you worried about whether you can contribute?
    Leigh recently posted..March 2014 net worth update (+1.7%)My Profile

    • Good luck with the new yoga studios. It’s been so nice not to deal with the headache of driving so far for yoga.

      As for the 2014 Roth, we’re never really sure if we will be over the limits until the end of the year, so that’s why we wait. We’ve come fairly close the last 2 years, so we will see what happens in 2014, but we may need to backdoor.

  • Never a bad month when you’re able to put $4,200 towards your investments! Pretty sweet indeed and should grow those accounts pretty quickly!
    writing2reality recently posted..Goal Setting – A Look at Forward 12-Month DividendsMy Profile

  • My husband and I just started tracking about a month ago. He’s putting everything into MS Money because he doesn’t trust Mint. I figure he can do all the work 😉

    I’m excited to see some of our expenditure areas. We’ve already been spending more consciously since deciding to track. We do a lot of shopping together and often have the “is it worth it?” conversation.
    Leah recently posted..NASAMy Profile

  • Nice work, as always! You guys do so well on the savings front. And what a beautiful pool area! I’m jealous.
    Done by Forty recently posted..Sex Sells…Health InsuranceMy Profile

  • Nicely done this month!

    I’m curious about the Roth IRAs. My knowledge is pretty minimal, but with a high income like yours, mightn’t you be better off with a traditional IRA? You presumably wouldn’t have such high wages when you are ready to withdraw and so your taxes would be lower then, yes?
    Frugal Paragon recently posted..March Report CardMy Profile

    • We look at the Roth IRAs as a hedge against long term tax rates. Between our contributions and our employer matches, $42K is going into our traditional (pretax) 401K accounts. By comparison, the $11K per year in Roth IRA contributions is much smaller, but we think might help us in the long term.

  • Your tracking is so nicely done! And your incomes always make me swoon a little bit :)

    My tracking is basically just “here’s my account at the beginning of the month and here it is at the end… look, it’s less (for debt), or more (for savings)”.