PoP Income Statement – November 2012

The appearance of a box in the house is reason for Kitty PoP to get excited!

Mr. PoP had a pretty fabulous month income-wise, so we’ve got some pretty strong numbers to report, even though November is also typically a very big spending month for us. Travel for Thanksgiving is pretty much always an expense, as well as the property tax bills that we like to pay in November if possible as well.  (Though they are not due until March, we do get a discount for every month we pay early, and it adds up!)

After our spending cleanse midway through the month, Mr. PoP and I did much better on gas and food spending, and I’m working on keeping the fridge stocked with packed meals for lunches so that we can keep carrying this trend well into December and beyond.

But here are the numbers…

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $10,753.

And here are the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $16,093
  • Rental Income: $1,500
  • Miscellaneous Income (rebates, med reimbursements, etc.): $786 ($300 of this is in credit card rewards for Holiday spending)
  • Total Income: $18,379

Expenditures

  • Groceries: $440
  • Eating Out: $262
  • Total Food: $702 
  • Mortgage: $1,166
  • Home Maintenance and Repairs: $70
  • Total Home: $1,236
  • Gas: $399
  • Tag/License Renewals: $182
  • Auto Repairs / Maintenance: $0
  • Total Transportation: $581
  • Bills/Utilities for Primary Residence: $364
  • Bills/Utilities for Investment Properties: $45
  • Total Bills / Utilities: $409
  • Interest Payments on Non-Mortgage Debt: $92
  • Car Loan Payments: $265
  • Total Interest / Car Loan Payments: $357
  • General Shopping: $429 – I’m tracking Holiday shopping separately, but we still record it as general shopping
  • Heirloom Restoration: $520 – expect a post on this soon, it was pricey, but money we feel was very well spent
  • Pet Supplies / Care: $10
  • Total Shopping: $959 
  • Gym / Fitness: $321 – As of now, all the big races for this racing season (through March) are now pre-paid at early bird prices as I really want to reach my running goals!
  • Medical Treatment/Visit: $70
  • Media Subscriptions: $25
  • Media Non-Subscription: $0
  • Total Health/Fitness/Entertainment: $416
  • Travel: $622
  • Property Taxes on Investment Properties: $2,344
  • Total Miscellaneous: $2,966
  • Total “Everyday Expenditures”: $7,626 – and yes, you can note that $3,148 of that went straight to our local taxing authority.  Our mortgage escrow account also paid out another $1,800 for the property taxes on our primary residence, so altogether the local tax collector got almost $5K from the PoPs this month.  Hope you like it, Tax Man!
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $18,379 – $7,626 = $10,753

Principal Paydowns / Savings Allocations

  • Principal on HELOC: $7,500
  • Savings for Estimated Big Purchase Soon: $1,500
  • Savings for Estimated Income Tax Liability*: $500
  • Transfer to IRA Holding Account: $1,000
  • Total Principal Paydowns / Savings Allocations: $10,500

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

  • $10,753 – $10,500 = $253 = Net Income

So all told, our cash accounts grew by $3,253 this month. ($1,500 to short term savings, and $1,500 to medium term savings accounts, and $318 from net income.)

*We’ll be keeping back some extra for the next few months as I’m starting to get antsy about owing the TaxMan come April 15th. The goal is to set an extra $2,000 aside for an estimated tax bill. Not sure exactly how it’ll shake out in April, but this will let me sleep better between now and then. If we don’t need it, that’s great – but I’d rather have it just in case.

 

How’s your income statement looking this month?  

 

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