PoP Income Statement – September 2016

Welcome to our September 2016 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.

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Most of the counter, assembled with a rough hole where the kitchen sink will go.

So if last month was one of the most expensive we had ever seen due largely to us prepaying for some travel and a fancy camera for Mr PoP, then this month is one of our least expensive months due to the money that we were anticipating all coming in at once.

Mr PoP’s collectibles sold and his parents sent us the proceeds, which we counted against our shopping budget since those were specifically sold so he could buy the camera.  And then Mr PoP’s friend sent us the money that covered his portion of their shared Burning Man expenses, which was pretty close to the $1K that I had guessed it would be.  This money got counted against our travel budget, since that’s what those expenses had been allocated as when they went out the door.  All that basically means that two categories have pretty big negative totals this month, and make it look significantly less spendy than it otherwise was.

Even absent those, this month wasn’t too spendy – a pleasant result given that medical problems can so easily bleed into overspending across lots of categories for convenience.  Our most unusual expense was paying $950 to get our 50+ year old live oak trimmed by a local arborist.  The last time we did this was four years ago, and we wrote about our choice to go with the pricey option then, and it was a no brainer to us to make the same choice again, despite his prices going up since then.

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How we joined the corner piece of the counter together. We made a stair step pattern to make it more visually interesting than just a straight line. A pain to do, but we love the result, so worth it!

We also spent about $553 on the kitchen this month as we’re still trying to make progress there, despite being slowed down a bit by the lack of mobility.  Most of that was on baseboards, but we also bought our kitchen and drinking water faucets since our counter is getting close to being done and despite the top not being finished yet (the cherry wood will deepen in color after applying the wax), it’s looking pretty beautiful already, IMHO.

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $9,952.  

And the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $10,321 – 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.): $364
  • Total Income: $12,285

Expenditures

  • Groceries: $349
  • Eating Out: $254
  • Total Food: $603
  • Mortgage: $1,150
  • Home Maintenance and Repairs: $1,078 – most of this was getting The Tree trimmed
  • Kitchen Renovations: $553 – kitchen faucet, a drinking water faucet, and baseboards, mostly
  • Bills/Utilities for Primary Residence: $154
  • Total Home: $2,935
  • Gas: $187
  • Auto Repairs: $0
  • Total Transportation: $187
  • General Shopping: -$678 – negative because of the sale of Mr PoP’s collectibles
  • Pet Supplies / Care: $13 – Kitty PoP wanted food, so I obliged.  =)
  • Total Shopping: -$675
  • Gym / Fitness: $53
  • Medical Treatment/Visit: $185
  • Media Subscriptions: $8
  • Total Health/Fitness/Entertainment: $307
  • Travel: –$1,081 – negative because Mr PoP’s friend paid us back his portion of their Burning Man expenses
  • Total Miscellaneous: -$1,081
  • Total “Personal Expenditures”: $2,225
  • Investment Properties: $109 – a renter saw a mouse, so Mr PoP filled some holes in soffit and placed traps
  • Total Investment Expenses: $109
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $12,285 – $2,225 – $108 = $9,952

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: $7,500
  • Total Principal Paydowns / Savings Allocations: $10,000
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $9,952 – $10,000 = –$48 = Net Income

How was your income and spending this month?

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