PoP Income Statement – May 2014

Welcome to our May 2014 Income Statement!

Mr PoP's watch was due for a repair...

Mr PoP’s watch was due for a repair…

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.

Thanks in large part to selling the Jeep, we had an awesome month on the income side of things, which is awesome.  But on the other hand, it was a pretty expensive month with quite a few good-sized expenses all stacking up on top of one another.  And that is less awesome.

Some of the things we were up to that impacted the bottom line this month included that weekend trip to see Warren Buffett and Charlie Munger, spending a weekend repainting the outside of our house (~$300), stocking up on some Vibrams, hanging and going out to eat with a lot of friends (especially Memorial Day weekend!), registering for my first-ever triathlon (time to see what GoGo can do in a race!),  paying for the next couple of years of hosting for this gem of a site, repairing Mr PoP’s watch, and much much more.  It really was a very full month!

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $14,247.

And here are the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $9,033
  • Rental Income: $1,525
  • Miscellaneous Income (rebates, reimbursements, etc.): $9,150
  • Total Income: $19,708

Expenditures

  • Groceries: $350 – spot on goal!
  • Eating Out: $345 – a bit high, we used up a good chunk of the buffer we built up earlier in the year enjoying meals out with friends
  • Total Food: $695
  • Mortgage: $1,213
  • Home Maintenance and Repairs: $452 – mostly painting the house, but also fixing the lawnmower
  • Total Home: $ 1,665
  • Gas: $289
  • Auto Repairs / Maintenance: $74
  • Total Transportation: $363
  • Bills/Utilities for Primary Residence: $218 – solid!
  • Bills/Utilities for Investment Properties: $46
  • Bills for this Website: $216
  • Total Bills / Utilities: $480
  • General Shopping: $1,138 – Lots of big stuff this month: a new iPad to replace the loss last month (though we should still get $200 reimbursement for loss to help offset), watch repair, stock up on running shoes, and renewing a bunch of domain names Mr PoP likes to sit on and do nothing with =)
  • Pet Supplies / Care: $0
  • Total Shopping: $1,138
  • Gym / Fitness: $171 – triathlons are expensive registrations, yo!
  • Medical Treatment/Visit: $29 – skin cancer free!
  • Media Subscriptions: $8
  • Media/Entertainment Non-Subscription: $0
  • Total Health/Fitness/Entertainment: $208
  • Travel: $412 – Incidentals at the BRK meeting, as well as the excess cost after using mostly miles to book two air trips for later in the year.
  • 501c3 Charity: $0
  • Tax Prep: $500 – yep, we used our tax man again this year… no regrets.
  • Total Miscellaneous: $912
  • Total “Everyday Expenditures”: $5,461
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $19,708 – $5,461 = $14,247

Principal Paydowns / Savings Allocations

  • Holding Acct For Roth 2014 IRAs: $1,000
  • Transfer to Taxable Investment Account: $13,000
  • Total Principal Paydowns / Savings Allocations: $14,000

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

  • $14,247 – $14,000 = $247 = Net Income

 

How was your income and spending this month?

19 comments to PoP Income Statement – May 2014

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