As featured in The Wall Street Journal, Money Magazine, and more!
     

Personal Income Statement, June 2006 (Net Income: $1,360)

This article was written by in Monthly Update. 11 comments.


Spending less than I earn is the only way I’ll become more financially secure. Luckilly, I’ve been doing so for a long time now. I’d like to be earning more, but I guess I can’t have everything. Take a look at my latest income and expense report. I’ve added some interesting items, based on a suggestion from Brett last month.

2006061.gif

I now include different columns in the report. The last two months leading up to the current month are included in order to show a recent trend. Then for comparison, I include year-to-date totals for 2004, 2005, and 2006. In 2004, I was using a different piece of software to track my expenses, so some of the details are missing, but the general idea is apparent.

The first line item: here is where I might complain about my salary. In 2004, my entire salary was rolled into one line, but in 2005 and 2006, I have the sources of income categorized. The lack of overtime available in my current position is what is causing the decline from April and from prior years.

One of my older web production clients is asking for a new website, so I expect to see random income on the “Other: Services” line at some point throughout the remainder of the year.

Everything else seems within reason. I like that I am on track for spending $1,000 less on utilities this year than last year (due to some efficient energy planning and the reduction of cable television).

I’ll write about my faovrite purchase of the month shortly.

Published or updated July 6, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

Email Email Print Print
avatar
Points: ♦127,485
Rank: Platinum
About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 4 comments… read them below or add one }

avatar brett

Thanks for incorporating the suggestions. And congrats on your utility savings!

Reply to this comment

avatar harold

do you have an excel template that you could share for the income statement and/or balance sheet?

Reply to this comment

avatar Luke Landes ♦127,485 (Platinum)

Sure, Harold. I’ll be able to have it online by the end of the weekend.

Reply to this comment

avatar harold

Thanks that would be great!

Reply to this comment

Leave a Comment

Connect with Facebook

Note: Use your name or a unique handle, not the name of a website or business. No deep links or business URLs are allowed. Spam, including promotional linking to a company website, will be deleted. By submitting your comment you are agreeing to these terms and conditions.

Notify me of followup comments via e-mail. You can also subscribe without commenting.

Previous post:

Next post: