PoP Income Statement – October 2016

Welcome to our October 2016 Income Statement!

My No On 1 yard sign lives right underneath The Tree for all the neighbors to see.

My No On 1 yard sign lives right underneath The Tree for all the neighbors to see.

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.

All in all, October was actually a pretty good month when it comes to PoP spending. Apparently being immobile most of the month is not a bad way to cut down on spending! Joking. Well, mostly.

My favorite spending this month was a donation I made to Floridians for Solar Choice (as well as buying the “No on 1” yard sign in the picture right there). This group has been leading the charge against this False Solar amendment, and though I try to stay outwardly apolitical, the dirty tricks surrounding getting this amendment on the ballot compelled me to do something to support their efforts because I kept encountering intelligent adults who were reading the ballot text of the amendment and getting confused as to whether or not it was actually “pro-solar”.

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $9,067.  

And the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $10,349 – 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.): $830
  • Total Income: $12,779

Expenditures

  • Groceries: $363
  • Eating Out: $214
  • Total Food: $577
  • Mortgage: $1,150
  • Home Maintenance and Repairs: $94
  • Kitchen Renovations: $130 – mostly baseboard that Mr PoP has been doing a great job putting in while I supervise from the couch.  =)
  • Bills/Utilities for Primary Residence: $151
  • Total Home: $1,525
  • Gas: $198 – I drove to work all month, so gas is higher than if I could bike to work again
  • Car Registration: $60 – which apparently every 10 years covers a brand new license plate.  Another “10 years in Florida” milestone, I guess!
  • Total Transportation: $259
  • General Shopping: $295
  • Pet Supplies / Care: $0
  • Total Shopping: $295
  • Gym / Fitness: $53
  • Medical Treatment/Visit: $60
  • Media Subscriptions: $8
  • Media Non-Sub: $29
  • Total Health/Fitness/Entertainment: $150
  • Travel: $306 – which is mostly Mr PoP’s flight for a trip he’ll take Thanksgiving weekend
  • Gifts/Donations: $512 – for Floridians for Solar Choice, as well as a few other organizations Mr PoP chose
  • Total Miscellaneous: $818
  • Total “Personal Expenditures”: $3,624
  • Investment Properties: $88
  • Total Investment Expenses: $88
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $12,779 – $3,624 – $88 = $9,067

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
  • Transfer to Taxable Investment Account: $6,500
  • Total Principal Paydowns / Savings Allocations: $9,000
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $9,067 – $9,000 = $67 = Net Income

How was your income and spending this month?

11 comments to PoP Income Statement – October 2016

  • Is your media subscription Netflix? Might want to check that — mine finally went up after years of being grandfathered at the lower price.

    This was a rough month for us because we paid a yearly amount for new life insurance policies. They’ll ultimately be better than what we can get through work, so it is a long-term win, but it is a bummer short term. Just waiting for all the paperwork to go through so I can cancel the policies through work and save a little bit more monthly.

    • Our media subscription is actually Hulu. We switched from Netflix years ago when Netflix split their streaming and DVD business, essentially doubling the prices. So we went to Hulu then and I’ve liked it!

      Short term bummers for long term wins aren’t always fun in the moment, but future Leah will thank you… especially if (god forbid) you guys actually have to collect on any of those policies.

      • Yes, I often love to think of future Leah. They are not huge policies, but they’re what we can reasonably afford. If one of us would ever need to collect, we’d be able to take a few years off work with our little one before needing to go back (or take a year off and do a good down payment for a house). Mostly, they reflect the idea that a boarding school is not an ideal environment if one is a single parent.

        Mostly, tho, it’s been a painful year because we bought a car out of savings and now this life insurance thing. I also bought whole-life insurance ($25k) in a lump sum for our kid, so that’s a big chunk too (but then we’re done paying forever).

        Our other big thing is that we have another on the way (!!), due in April. I am exited, of course, but anxious about the financial implications since I won’t be able to completely rebuild our savings account from buying the car. Trying to tell myself that the long game matters more anyway. I just know we won’t be able to put as much away come next year due to increased costs for health insurance and daycare.

        • Another teeny person! How lovely for you guys! Future Leah will surely be greatful for all the planning when she’s wrangling two rugrats!

  • Other than my vacation to Europe I had a quiet month. I didn’t do much of anything except recover, relax, and catch up on chores around the house. Adulting is so much fun hah!
    Gwen @ Fiery Millennials recently posted..Extreme Makeover: Fiery Millennials EditionMy Profile

    • Ha! Recovery from a big trip is totally necessary, and oddly I do tend to find it fun sometimes to get a little back into my routine. A bit of a homebody, I suppose.

  • I had to read up on that amendment on Balletopedia, and wow, yeah you’re right! It’s definitely worded to sound pro-solar, but the rub is in the second half of it. Very slimy. It sounds like there was a leaked audio recording proving it. Intrigue!

    This reminds me of when New York had casino expansion on the ballot a few years ago. It was supported by the governor and the amendment had all this “empty promises” advocacy language in it (you’ll get lower property taxes! more jobs! school funding!). Of course they submitted it too late so it couldn’t be properly reviewed, it ended up on the ballot, and now we have four new casinos being built! Hopefully yours doesn’t go this way.
    Norm recently posted..Ridinkulous Quarterly Expenses: Q3 2016My Profile

    • Yeah, it’s freaking terrible. I really hope it doesn’t pass, but I’m afraid I’ve lost faith in the abilities of individuals to NOT vote against their best economic interests. *cough* Brexit *cough* https://www.theguardian.com/uk-news/2016/jun/25/view-wales-town-showered-eu-cash-votes-leave-ebbw-vale

      That stinks about your casino expansion. Sounds like the rush job was intentional. Ironically, this one wasn’t insanely rushed, and the ballot language was contested up to the Florida Supreme Court, who said it was okay in a 4-3 vote. In fact, that vote is the reason I also voted NO to re-elect the 3 FL Supreme Court justices that are on the ballot this year. Each of them voted to keep the ballot language in its ridiculously confusing form, which I obviously think was the wrong decision.

  • jestjack

    Good for you to back solar choice. Our utility wants to raise rates on customers because efficient incentives have reduced consumption. Soooo you use less and get charged more….Not feelin’ it…

  • Hi. So, what happened with the Solar ballot vote in Florida?
    Mrs. Need2Save recently posted..DIY or Hire a Contractor?My Profile