May 2, 2012

April 2012 Income Statement

Things are starting to settle down a bit.  April brought an average income month and, thankfully, decreased spending (click on spreadsheet below). 

Our total income for April was $7,591.52.  Our regular paychecks saw a bit of an increase this month in the form of a 1% raise for me ($704.60/year) and my wife changing her filing status to M2 ($200.15 net increase per check that began her 2nd check of the month).  We received $50 in credit card rewards, $43 tax refunds ($41 Fed & $2 State), a $50 gift to our baby’s 529 Plan, and earned $1.77 in interest income from our online savings account. 

Well, our downward trend of spending continues.  In March we spent a total of $7,284.95, higher than our budget of  $6,070.89, but far lower than what we’ve been spending the past 3 months: $22,902.72 in Jan., $14,038.03 in Feb., and $9,560.04 in Mar. 

May should be a good income month, led by an “extra” third paycheck for me.  This extra money should help get us back on track somewhat.  We’ve been putting off having our security camera system installed ($850), but we may get around to it in May.


Financial Independence said...

Thank you for keeping open discussion.

I am trying to understand it better. Do you do any regular savings or pension plan contributions?

I could not find them in the table..

1MansMoney said...

Financial Independence-

Thank you for the commment. Yes, we do save and contribute to our 401(k) accounts each month, but I do not include that detail in our income statement. It is, however, included in the balance sheet that I post in our networth updates


1MansMoney said...
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