January 2020 Income Statement

In January, we had a good income month and but also a high expense month (see spreadsheet screenshot).

Our total income in January was $14,652.22.  In addition to our regular paychecks, I received a monthly and quarterly bonus $5,100 gross ($2,799.70 net) and my wife received a discretionary bonus of $1,000 gross ($533.69 net).  My wife also received $1,072.85 in auto allowance / mileage reimbursements, $600 in gym reimbursements and $46.99 in internet reimbursements.  We also earned $19.32 in interest income from our savings accounts.

This month, our expenses totaled $16,369.68, meaning we spent more than we earned.  Never a good thing.  Big ticket items include $1,326 in gym memberships, $685 in life insurance and $648 in vacation

Next month is a bit of a question mark.  We have been in the process of a home insurance claim and could possibly receive a decent chunk of money for repairs.

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