Have you checked out my latest net worth report? Here is its companion, my income and expense report for April 2007. Although my bottom line increased this past month, it wasn’t due to saving or spending.
My income this month totaled $7,731, but my expenses came to $7,848. This was the first month in a while in which my expenses outweighed my income. It’s quite a change from last month when a bonus, three paychecks and realized gains contributed to a $18,000 income. Nevertheless, I’m not complaining.
Keep on reading to find out why this was a special month.
Answers to Frequently Asked Questions.
The report is made with Intuit Quicken and Microsoft Excel. Here’s an income and expense report Excel template.
Explanations and Details.
My day-job salary is back down to “normal” this past month, as there were only two paychecks during April. Meanwhile, secondary business income was organically down this month. This is probably a more reasonable level of monthly side income to expect for the rest of the year. Regardless, I still managed to eke past my day job income.
Thanks to a vacation to visit my family in California, my fuel expenses were quite a bit lower in April. This afternoon, I paid about $2.70 for each gallon of gas used to fill my tank. I’m not looking forward to my fuel expenses skyrocketing this summer.
While I’m spending more on gifts this year than I ever have before, I’m happy about that. My girlfriend is also quite happy with her new Nintendo Wii.
As you can see my total tax paid this month, a sum of what I’ve sent to the state and to the feds, was $5,000. It could have been worse, but this tax expense is the main reason behind the net loss in April rather than a net gain.
In May, I don’t expect anything out of the ordinary. I’m going to the dentist for a protective coating for a couple of molars — I don’t have cavities, but apparently this helps avoid them — and it won’t be covered by insurance.
I’m still working up the motivation to prepare my lunch ahead of time and bring it in to the office rather than going out to eat each day.
Last month, I said it would be great to see my growth continue, but I knew that would not be a realistic assumption. Aside from the tax expense, this month looks more like what I can expect for the rest of the year.
Published or updated May 2, 2007.