January 2013 Income Statement

As expected, January was a low income month because my wife was unemployed.  Sadly, we weren’t able to keep our expenses as low as we would have (see attached spreadsheet).

Our income totaled $5,506.34 in January.  In addition to my regular paychecks this month, my wife received $1,800 unemployment.  We also received $50 in credit card cash back rewards and we earned $9.14 in interest income from our online savings account. 

In January, we spent a total of $8,869.22 - about $3,362 more than we earned.  Some of the larger non-standard expenses were: $685 for six months of life insurance (20 year term for both of us) and $551.36 for six months of auto insurance for our two vehicles.

Next month, we should receive a $2,154.27 refund from our mortgage prepaid & escrow.