Welcome to our November 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.
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…
- 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
- 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
- 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?