PoP Income Statement – September 2015

Welcome to our September 2015 Income Statement!

Kitty PoP loves it when the food bin gets refilled. He loves it even more when I step out of the room and he can sneak some while the lid is off!

Kitty PoP loves it when the food bin gets refilled. He loves it even more when I step out of the room and he can sneak some while the lid is off!

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.

Spending this month was pretty par-for-the course for 2015.  By that I mean, remodeling spending kicked the total up higher, but when you back that out, we’re below what we aim for as our “personal” spending, even with some fun/luxurious spending happening this month.

Kitchen Remodeling spending this month was a little shy of $1,600.  Most of those expenses are related to the tile install.  While that sounds like a lot to be spending on a DIY-installation of 550 sqft of tile (especially since it doesn’t count what we had already paid to remove the old tile and prep the floor for a clean install), here’s how it has shaken out:

  • $300 to pay a coworker’s husband (and former tile installer) to come over and work with Mr PoP for a very labor intensive day to get us started.  Not only did he help us map out the layout and help Mr PoP learn how to get those 6×36 plank tiles laid well, he also personally laid more than 150 sqft of tile (that’s 100+ tiles!) that day.
  • ~$400 in tile mortar and spacers.  We’ll probably need a more, but this will take care of a lot of it.
  • ~$650 in a self-leveling system (specifically the Tuscan Leveling System for those curious).  Using this system is allowing Mr PoP to lay these tiles more precisely and eliminate lippage (when the edges of adjacent two tiles aren’t in the same plane and there’s a height difference between them).  We will probably need to buy more straps to finish off this job, but it’s been well worth it and we’ll be able to re-use the caps and gun when Mr PoP installs the rest of the tile in the house.

Grocery spending was also off the charts high, but eating out was surprisingly a little low so we ended up *only* $100 over our goal for food spending.  =P

Travel was also on the high side.  We had the second half of Mr PoP’s Bay Area vacation per diem hit this month and we also purchased a plane ticket for Mr PoP to visit friends over Thanksgiving weekend.  It worked out better to pay cash for that ticket, since fares in miles were crazy for the holiday weekend this year.

Here are the full numbers…

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $7,096.  

And here are the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $10,576
  • Rental Income: $1,550
  • Miscellaneous Income (rebates, reimbursements, etc.): $0
  • Total Income: $12,126

Expenditures

  • Groceries: $514 – Publix deli dept, we do appreciate you. =)
  • Eating Out: $191
  • Total Food: $705
  • Mortgage: $1,151
  • Home Maintenance and Repairs: $75
  • Kitchen Renovations: $1,576
  • Bills/Utilities for Primary Residence: $185 – our Ting bill was our highest yet ($66 for 2 iPhones) since we had a particularly high month of usage, but it was still ~$95 less than our old Verizon bills!  Ting, FTW!
  • Total Home: $ 2,987
  • Gas: $165
  • Auto Repairs / Maintenance: $0
  • Registration Renewal: $58
  • Total Transportation: $223
  • General Shopping: $178 – includes a baby gift (the baby has arrived!!) and some other random small stuff.
  • Pet Supplies / Care: $14 – a new big bag of food for Kitty PoP.  See his reaction to the bounty in the photo above…
  • Total Shopping: $192
  • Gym / Fitness: $53
  • Medical Treatment/Visit: $0
  • Media Subscriptions: $8
  • Media/Entertainment Non-Subscription: $12
  • Total Health/Fitness/Entertainment: $73
  • Travel: $767
  • Total Miscellaneous: $767
  • Total “Personal Expenditures”: $4,947   ($3,371 excluding the kitchen reno items)  
  • Investment Properties: $83
  • Total Investment Expenses: $83
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $12,126 – $4,947 – $83 = $7,096

Principal Paydowns / Savings Allocations

  • Holding Acct For Roth 2015 IRAs: $1,000
  • Transfer to Taxable Investment Account: $6,000 – yay, get to buy some shares on sale!!
  • Total Principal Paydowns / Savings Allocations: $7,000
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $7,096 – $7,000 = $96 = Net Income

How was your income and spending this month?

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