I'm going to try and start a regular series of Financial Updates, probably monthly for now to see if I can maintain it. It will be structured in a Profit & Loss (P&L) and Balance Sheet (BS) style in what I hope is a clear and concise manner. I will go in the following order: Income, Expenses, Assets and Liabilities and summarise the main points of consideration that impact each item. This post will cover Income and Expenses while the next post will cover Assets and Liabilities. Income Salary income for my wife and I have been consistent so far for the 2016 year. However, the bad economic times have impacted my wife's banking industry more than my accounting industry. The risk of retrenchment has increased for both of us (maybe more so for her) and we do not expect year end salary increases or bonuses. We have always been preparing for ......