November 2008 Income Statement

We did a great job of keeping our standard monthly expenses very low in November (click on spreadsheet below). We spent a total of $6,910.14, but $2,331.14 of that was for non-standard expenses including $745 for 12 months of auto insurance, $439 for 12 months of condo insurance, and $1,169.14 for property taxes (1st of 2 payments).

In addition to our regular paychecks, I sold back 4 days of vacation to my company for $870.43 We also earned $225 in cash back rewards, sold our 15 shares of Toyota stock for $260.52 gain, and my wife received a $30.00 reimbursement from her company. The interest income of our E*TRADE savings account was $26.24.Next month, my wife should receive her quarterly bonus of at least $1,500 and I will be receiving a 3rd “extra” paycheck next month. Both will be deposited into savings. My wife should find out in mid December if her position will be eliminated at her company. If so, her last day will likely be December 31st. Because of this, we plan to keep our Christmas expenses down this year.

3 thoughts on “November 2008 Income Statement”

  1. Hi there, great blog. Just started reading it recently! Question for you…when doing your income statements…how do you treat your purchases on credit card? Or perhaps, first question, do you use credit cards..? Just wondering how you would record that in your budget (i.e. the month you buy the item, or the month you pay for the item)…Thanks!!!

  2. Hi Anonymous,

    Thank you for the comment; I’m glad you enjoy the blog.

    We charge as many of our expenses onto our rewards credit cards as possible and pay the balance off in full each month to avoid incuring interest. The purchases are recorded the month in which we buy the item.

    It’s worked well for us. Besides the rewards we earn, putting our expenses on credit cards helps with our cash flow and gives us a detailed record of purchases.

    -1MansMoney

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