PoP Income Statement – November 2014

Welcome to our November 2014 Income Statement!

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Leaning tower of kitty litter

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.

I’m finishing up my solitary Thanksgiving weekend here by wrapping up the month’s financials.  While they aren’t too terribly exciting this month, this weekend has been super productive.

  • A turkey was cooked (Mr PoP will have to report back on whether or not it was a success).  I also made some cranberry sauce from scratch and that was excellent!
  • 43 miles were run and I feel like I’m back on track for marathon training.
  • Lots of cuddling with Kitty PoP.
  • Amazing amounts of laundry were done.
  • Christmas lights are up on the outside of the house.
  • I actually went shopping, scoring 5 work shirts for Mr PoP ($57!), a tower of Kitty Litter and cat food for $44 (consider this picture to be the answer to how much Kitty Litter can you fit in a 2-seater convertible – might have been able to fit in 1 more but I didn’t want to push it!), and a few pair of running socks for a couple of bucks each (thanks AmEx for $30 in Small Business Saturday credits).
  • The closet and attic were cleaned out and two car loads (again, small trunk, so not really *that* much stuff) of stuff were donated.
  • Media binge went great – Serial is awesome and I followed it up with an 8-part documentary on the murder trial of Michael Peterson – The Staircase, which is like a video version of Serial only about a different murder (or was it murder?!? – no spoilers here!) that occurred in 2001.  The eight 45 minute videos are all on youtube, so check it out!  AND… there’s apparently another 2 episodes that revisit the case a decade later for sale on iTunes ($1.99 each).  I may have to buy those since it seems I can’t get them anywhere legally for free…
  • The only thing that didn’t get done was the weeding, but I got a lot more done inside the house (scrubbing showers, etc) and inside the garage including re-mudding the garage wall so we can get our laundry all back in place where it will live from now on, so the weeding is just put off for another week.  Ah well.

Income and spending were pretty good this month, which is nice as we’re closing in on the end of the year and we actually spent a decent chunk of change this month on travel and gifts.

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $5,169.

And here are the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $9,538
  • Rental Income: $1,550
  • Miscellaneous Income (rebates, reimbursements, etc.): $668
  • Total Income: $11,756

Expenditures

  • Groceries: $386
  • Eating Out: $132
  • Total Food: $518 – under the $600 goal, so yay!
  • Mortgage: $1,213
  • Home Maintenance and Repairs: $130
  • Kitchen Renovations: $114
  • Bills/Utilities for Primary Residence: $179 – I think this is the last $0 bill for 2 iPhones on Ting due to credit from phone swap!  ‘Twas good while it lasted!
  • Total Home: $ 1,636
  • Gas: $199
  • Auto Repairs / Maintenance: $0
  • Car Insurance: $298 – six months worth!
  • Total Transportation: $497
  • General Shopping: $540 – mostly gifts, which we bought a lot of this month
  • Pet Supplies / Care: $44 – see the leaning tower of litter above…
  • Total Shopping: $584
  • Gym / Fitness: $95 – gym + a race registration
  • Medical Treatment/Visit: $30
  • Media Subscriptions: $8
  • Media/Entertainment Non-Subscription: $26
  • Total Health/Fitness/Entertainment: $159
  • Travel: $445 – spending cash for a long wedding weekend in New Orleans + Mr PoP’s Thanksgiving trip spending cash
  • Total Miscellaneous: $445
  • Total “Personal Expenditures”: $3,839  ($3,757 excluding the kitchen reno items)  
  • Investment Properties: $2,748 – property taxes (always a good time) and one maintenance issue
  • Total Investment Expenses: $2,748
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $11,756 – $3,839 – $2,748 = $5,169

Principal Paydowns / Savings Allocations

  • Holding Acct For Roth 2014 IRAs: $1,000 – this is the last $1K  to fill the Roth IRAs for the year
  • Transfer to Taxable Investment Account: $4,000
  • Total Principal Paydowns / Savings Allocations: $5,000

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

  • $5,169 – $5,000 = $169 = Net Income

How was your income and spending this month?

10 comments to PoP Income Statement – November 2014

  • Sounds like your solo Thanksgiving was a success–nice! I’m with you on Serial, so good. Although Mr. FW totally listened to a few episodes without me the other day while he was drywalling our kitchen! I was cleaning our basement bathroom and came upstairs and said…. are you listening to Serial without me?! He was. It’s ok, we’re still married.

    We hit up our local hardware store to take advantage of the AmEx Small Business Saturday deal, but after that, couldn’t think of anything else to buy. So,at least we got $10 worth of free stuff.
    Mrs. Frugalwoods recently posted..November 2014 ExpendituresMy Profile

    • haha, glad you cut the Mr some slack for listening without you. I don’t think that’s worth needing a custody arrangement for FrugalHound over.

      Next year you can try the strategy I used for the first time this Small Business Saturday to maximize the benefits with minimal effort – just have the cashier ring up 3 separate transactions each over $10. To avoid being awkward, I told a fib and told the cashier at the local running store to ring the 3 pair of socks ($12 each!) separately since they were gifts for running buddies… which they are, kindof. Aren’t my feet the best running buddies of all?

  • Great job on your income! And I’m glad you had a great solitary Thanksgiving. I spent mine with the family and it was pretty relaxing aside from a few dramatic moments with the kids =)

    I failed at Small Business Saturday. I registered my cards then totally forgot about it =/
    Holly@ClubThrifty recently posted..All I Will for Christmas Is…My Profile

    • Glad you had a relaxing Thanksgiving with the family – well, except for the kiddo drama. Hope everyone went home relatively unscathed!

      Stinks about missing out on Small Business Saturday, but there’s always next year. =)

  • As usual, great job on the income!! Filling that Roth IRA for the year must have felt pretty good as well, right?! :)
    moneystepper recently posted..Moneystepper’s 2015 Savings ChallengeMy Profile

    • Thanks, moneystepper! The Roth $ caps off our planned minimum savings for the year, so now we’re just working ahead on 2015 savings. =)

  • Out of curiosity do you prefer the Roth to Traditional or what’s the strategy behind it?
    Even Steven recently posted..An Extremely Brilliant Way To Pay Off DebtMy Profile

    • We consider the Roth IRA to be a bit of a tax hedge for the long term since we don’t know what our marginal tax rate will be when we go to pull this money out in 30+ years and at least we know what it is now. It also tips the scale that we’re not eligible for any tax benefits from a traditional IRA due to the income phase-outs, so if we’re going to pay taxes on the money now we may as well get some deferred tax benefits on them at a later date rather than shoveling the funds into a taxable account.

  • I like how you present your information. It’s laid out very well and extremely detailed. Thanks for sharing! Also, it sounds like your solo Thanksgiving was an overall success, so that’s great too!
    Kayla @ Everything Finance recently posted..Prudential wants to understand WomenMy Profile

  • Still couldn’t get groceries under $600! Grr. Goal is $500. Total food $842. I focus more on the grocery side as Mr. FP tends to be the one suggesting a meal out and I don’t always succeed in naysaying.

    Pretty big spending month because we had some big-ticket items: Snow tires for the car and the bike, two new helmets (one for me, and Big Brother’s delaminated), Colorado-level snow boots, and various items of wool.
    Frugal Paragon recently posted..Public Service Announcement: Clean Your Bike ChainMy Profile