These last few months have been an absolute whirlwind. I’ve had high highs and low lows since I started freelancing full-time at the end of July/beginning of August. Luckily my highs have far outweighed my lows.
I still have a burning excitement inside of me for my business every day. It’s rare that I ever take a whole day off. Part of that is because I have plenty of work to keep me busy every day. Another reason though is that I simply can’t shut my brain off that long and step away from my business for that long because business ideas, post topics, etc. are always running through my mind.
It takes a hard effort to take any real “time off” and Thanksgiving is the first time I’ve really taken off for more than a day or two since I started freelancing in July 2014. I took off Thursday-Sunday. A whole 4 days off! (Ok – I did check my email a couple of times, but only for about 20-30 minutes at two separate times.)
Even with a 4-day break for Thanksgiving, I still topped my income from October. Big time.
Want to know how I earned over $5,000 online in November? Here’s how:
My online income for November 2015: $5,062.21
Here is a breakdown of how I earned my money:
VA/Blog Management Services – $3,122.21
Writing – $1,680.00
Advertising on both my sites – $240.00
Bonuses, Tips, etc.- $20.00
For the first month ever, I’m also going to share my expenses with you guys.
I’ve been asked quite a bit lately about how high the overhead costs are on a business such as this. In order to be a bit more transparent about what it costs to run my business, I’m going to begin sharing my expenses with you. The expenses listed below are only what I pay out of my business account each month. You won’t see a charge for internet in the expenses below 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. 🙂
Staff Writer, VAs, Tech Services – $267.00
PayPal and Other Fees – $42.83
Computer Monitor – $97.86 – This is a one-time expense
Training – $57.45 – This is not a regularly recurring expense
Site Updates for My Other Website – $46.00 – This is a one-time expense
Total Expenses: $511.14
Income less Expenses: $4,551.07
November was my highest earning month yet and I crushed my goal of $3,700.
Last month I told you I was trying to narrow the focus of my business by cutting some clients to free up time for my own business and brand. I did cut a few clients and I also hired a bit of additional help for my site and business. The expense of that is not shown above as the first invoice was paid after December 1st. That expense will be reflected on my next report.
As always, you need to know that I don’t count my online income until the month it gets deposited into my account, so this is from some work at the end of October through about mid-November. I have made some more since then, but it will be included on my next report since it didn’t hit my account until December 1st (or later).
Remember, that my online income has not yet been taxed, which means that about 30% of what I make is going to be taken by Uncle Sam. That “expense” is not included in the net figure of $4,551.07 listed above. Additionally, I’m saving some of my income to be used for FINCON16 and other business expansion projects in the future.
I’m going to set my December income goal at $4,000. This will be my highest income goal yet.
I expect that December income will be down slightly due to the holidays and because I cut a couple of clients and received the last payment from them in November.
Here are my other online income reports to-date:
- October 2015 – $4,190.15
- September 2015 – $3,372.10
- August 2015 – $2,357
- July 2015 – $2,502.60 – Last month as a side hustle!
- June 2015 – $2,130.25
- May 2015 – $1,873.40
- April 2015 – $1,691.51
- March 2015 – $2,131
- February 2015 – $1,534
- January 2015 – $596
- December 2014 – $1,503.50
- November 2014 – $753
- October 2014 – $1,080
- September 2014 – $581
- August 2014 – $280
- July 2014 – $285
For kicks and giggles I decided to average my monthly online income for the 17 months I’ve been freelancing. Even with the smaller months at the very beginning, my average monthly online income (gross) is $1,877.81. My 12 month (gross) average is $2,411.98.
Did you make any online income in November? Is there anything else you’d like to know about how I run my business or make income online? Let me know, I’d love to help you out!