PoP Income Statement – November 2017

First pass at cushioning for the couch, plus a new rug!

First pass at cushioning for the couch, plus a new rug!  Sadly this isn’t the best picture because it’s night and it’s a little dark.

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.

The last couple of months have been kindof a haze, and I’m finding it a little hard to believe this year is almost over!  

Spending this month wasn’t too out of the ordinary – we made two big-ish personal purchases.  The first was a rug for the living room, which we’re thinking really ties the room together*.  (*see below)

The second is a surround sound system for the guest room.  After inheriting the piano this summer and committing to re-arranging the living room, we knew that we could no longer really project movies on the wall in the living room.  So instead, we’re transitioning our guest room/Kitty PoP’s room into guest room/Kitty PoP’s room/Mrs PoP’s office/media room, where we’ll have built in surround, a little shelf where the projector will live with movies projecting on the screen pulled down over the window, and the guest bed got replaced with a convertible futon from Ikea that we’ll keep as a couch most of the time and unfold it when guests come to town.  All in all, we think it’s going to be a lot of fun and we hope to use the space a lot more often!

Here’s all the numbers…

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $4,423.  

And the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $10,929
  • Rental Income: $1,600
  • Miscellaneous Income (rebates, reimbursements, etc.): $0
  • Total Income: $12,529

Expenditures

  • Groceries: $426
  • Eating Out: $254
  • Total Food: $680
  • Mortgage: $1,123
  • Home Maintenance and Repairs: $255
  • Hurricane Before/After: $60 – getting the last of the hurricane debris removed
  • Renovations: –$25, we sold the remainder of the tile since we’re done tiling the house.  Didn’t get much money, but we did get 900lbs of tile hauled off our back patio by someone else!  
  • Bills/Utilities for Primary Residence: $193
  • Total Home: $1,606
  • Gas: $184
  • Repairs & Maintenance: $144
  • NSX Payment: $727 – while we paid cash for the car, we opted shortly thereafter to take advantage of the stupid low rate our credit union was offering on car loans to take a loan on the car and have more money liquid in the market.  
  • Total Transportation: $1,055
  • General Shopping: $586 – we picked up two big items this month, the rug in the picture above, and then a surround sound system to install in the guest room which we’re converting into our new movie viewing area after re-arranging the living room.
  • Pet Supplies / Care: $0
  • Total Shopping: $586
  • Gym / Fitness: $37
  • Medical Treatment/Visit: $50
  • Media Subscriptions: $9
  • Media Non-Subscriptions: $10 – an album on iTunes
  • Total Health/Fitness/Entertainment: $106
  • Travel: $394 – some incidentals from traveling for a weekend this month, but mostly pre-paying for expenses for our trip to Omaha in May for the Berkshire Hathaway meeting
  • Total Miscellaneous: $0
  • Total “Personal Expenditures”: $4,427  ($3,725 net Reno and NSX payment)
  • Investment Properties: $3679 – property taxes were ~$3100 of this, and most of the rest was a new oven for one of our duplex units since theirs broke.  
  • Total Investment Expenses: $3679
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $12,529 – $4,427 – $3679 = $4,423

Principal Paydowns / Savings Allocations

  • Transfer to Holding Acct for 2017 Roth IRAs: $1,000
  • Transfer to Taxable Investment Account: $3,000
  • Total Principal Paydowns / Savings Allocations: $4,000
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $4,423 – $4,000 = $423 = Net Income

How was your income and spending this month?

 

2 comments to PoP Income Statement – November 2017

Leave a Reply

You can use these HTML tags

<a href="" title="" rel=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

  

  

  

CommentLuv badge