Our income statement spreadsheet (click on spreadsheet below) for August shows total expenses of $12,685!
While that number is startling, August was, in fact, a pretty reasonable spending month. If you subtract $6250 in extra auto loan payments and $850 for a boat tower, our expenses only totaled $5,585. That’s pretty close to our $4,919.55 budget.
In addition to our regular salaries, we earned $111.35 in credit card rewards and my wife received a $896 ($480.84 net) quarterly bonus and her $110 company reimbursements. We also earned $4.26 in interest income from our online savings account. My wife’s 15% 401(k) contribution (increased from 5%) kicked in her 2nd check in August.
Next month, there are no large expenses planned, but our net income will be less because we increased my wife’s 401(k) contribution from 5% to 15%.