PoP Income Statement – November 2016

Welcome to our November 2016 Income Statement!

Llamas! I loved them in Ecuador =)

Llamas! I loved them in Ecuador =)

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.

It ended up being a pretty busy month for us – with each of us going on our final trips of the year (me to Ecuador, and Mr PoP back to his hometown to hang out with old friends for a few days).

The income statement was less busy… well, mostly.  We had pretty big outflows for our investment properties, but those were the annual property tax bills.  We always know when they come, so they’re never a huge surprise.  

On the personal side of the income statement, it was actually a really low month for us, without a whole lot of noteworthy spending.  $323 covered incidental spending for separate vacations for both of us, where I was gone for 8 days and Mr PoP was gone for 4 days.  Car insurance for the next six months ran about the same amount.   Everything else was “on target” or even a little low, without any unexpected expenses.  

 

We’ll see how December shakes out, but it’s feeling good to almost have another whole year in the bag!

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $5,628.  

And the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $10,291 – we maxed out our 401Ks, so more flows through here instead through the end of the year
  • Rental Income: $1,600
  • Miscellaneous Income (rebates, reimbursements, etc.): $0
  • Total Income: $11,891

Expenditures

  • Groceries: $329
  • Eating Out: $193
  • Total Food: $522
  • Mortgage: $1,150
  • Home Maintenance and Repairs: $75
  • Kitchen Renovations: $46
  • Bills/Utilities for Primary Residence: $143
  • Total Home: $1,414
  • Gas: $212 – still a lot of driving in November, hopefully less in December
  • Auto Repairs: $43
  • Car Insurance: $321 – includes a prepayment discount for paying 6 months in advance
  • Total Transportation: $576
  • General Shopping: -$23 – negative due to a return from last month cancelling out all our other shopping spending
  • Pet Supplies / Care: $38 – Kitty PoP is now stocked up on food and litter for a while
  • Total Shopping: $15
  • Gym / Fitness: $53
  • Medical Treatment/Visit: $59
  • Media Subscriptions: $8
  • Media Non-Sub: $1
  • Total Health/Fitness/Entertainment: $122
  • Travel: $323
  • Total Miscellaneous: $323
  • Total “Personal Expenditures”: $2,972
  • Investment Properties: $3,291
  • Total Investment Expenses: $3,291
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $11,891 – $2,972 – $3,291 = $5,628

Principal Paydowns / Savings Allocations

  • Transfer to Holding Account for Sunny Restoration or NSX purchase?: $1,500
  • Transfer to Holding Account for 2016 Roth IRAs: $1,000 – this tops up the Roth money set aside
  • Transfer to Taxable Investment Account: $3,000
  • Total Principal Paydowns / Savings Allocations: $5,500
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $5,628 – $5,500 = $128 = Net Income

How was your income and spending this month?

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