June was an absolute whirlwind month.
I was on TV for the first time. I paid off my final credit card. And I earned over $12,000 with my online business. I truly couldn’t ask for a better month.
This month is shaping up nicely too and I’m honored to be a part of The Money Summit later this week.
My session on Thursday is all about The Importance of Earning More (and How to Do It!). I can’t wait! It’s going to be a great session!
Earning more has been a big part of my success with paying off debt and building savings, so I can’t wait to share about it on Thursday. Register for the FREE event here and join me at 11 AM Central on Facebook! If you can’t make it, you can get all of the sessions here.
Now, back to my online income from June. 🙂
Why Share My Online Income?
I’m often asked why I share details about my income online. I definitely don’t do it to brag! The reason I lay it all out there is to be as transparent as possible about how much work goes into running a successful online business. It’s no cake walk to be sure!
Sharing my online income also helps me stay accountable too. I love seeing how this business has changed and grown since I started freelancing part-time back in July 2014. Now, I do this full-time and have been for almost 2 years!
Here’s a look at my online income and expenses for last month.
VA/Blog Management Services – $6,974.42
Freelance and Ghost Writing – $2,975.00
Sold FinancialConversation.com – $2,500.00
Coaching – $0.00
Advertising and Affiliate Income:
Survey Junkie – $22.50
Direct Advertising – $100.00
Because I truly want to be transparent about how much time and effort it takes to run my online business, I like to share my expenses with you too! I wish more bloggers would share their expenses so readers know what it truly costs to run a blogging business.
The expenses listed below are only what I paid out of my business account this month.
You won’t see a line for internet because that is something I would pay for even if I didn’t have an online business. (But yes, I do get to deduct most of it now that I have an online business.) So, keep that in mind.
Contract Services – $3,050.77
PayPal and Other Fees – $105.14
Facebook Ads – $1,368.97
Board Booster – $10.00
Meet Edgar Annual Subscription – $490.00
New GoDaddy Domain Name – $12.17
New Computer – $47.63
Travel (Hotel, Meals, Gas) – $249.03
Total Expenses: $5,530.71
Income less Expenses: $7,041.19
June had some high expenses!
I paid for my annual subscription for Meet Edgar, and I bought a new course to help me learn more about affiliate marketing. I’ll do a full review of Making Sense of Affiliate Marketing Course once I’m done with the course.
I am excited that my computer is paid off. I wasn’t in a hurry to pay it off early since I had it financed at 0% interest, but it’ll be nice to not have that payment anymore. 🙂
PayPal fees are always my least favorite expense. I absolutely hate having to give away part of my money just to get paid! I know my PayPal fees would be WAY higher if I didn’t use FreshBooks. I can’t recommend FreshBooks enough if you are a freelancer who is primarily paid by PayPal. It can help you save a TON on PayPal fees. Plus, if you use my link, you can try FreshBooks free for 30 days!
Last year I started using Board Booster to help increase my traffic from Pinterest. It has worked well, so I increased to a larger plan back in January. I plan to increase my plan again soon so I can keep growing my Pinterest traffic. I also use Tailwind, but I pay for that annually, so that’s why there’s no charge shown for it each month.
Don’t forget, I don’t get to “take home” that entire $7,000. My online income has not been taxed, so I set aside a large portion of it each month for that. In June, I had my second quarterly tax payment for 2017. It was brutal. 🙁
If income reports get you jazzed, you can see all of my online income reports on this page!
Just to see how far I’ve come, I averaged my monthly online income for the 36 months I’ve been freelancing. Even with the part-time months at the beginning, my average monthly online income (gross) is $5,464.63. My 12 month (gross) average is $10,033.11.
Did you make any income online last month? Don’t forget to drop me any questions you may have about blogging or business and they may be covered in a future post!