Normally I try to spread out the numbers posts a little bit with some other content in between. You know, just in case budget plans, results, and online income reports are really your thing. But this is the post I’m most excited to write each month so I decided to go ahead with it anyway. So if you don’t like these types of posts, I’m sorry-ish. But really I’m #sorrynotsorry because I’m excited about it. 🙂
In February 2016 I earned $5,723.68 with my online business.
VA/Blog Management Services – $3,122.98
Writing – $1,500.00
Advertising on both my sites – $1,085.70
Bonuses, Tips, etc.- $15.00
You can find out more about the services I offer here.
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 – $1,229.00
PayPal and Other Fees – $62.34
Travel Expenses – $124.89
Domain Renewal – $27.52
Training – $499.00
Total Expenses: $1,942.75
Income less Expenses: $3,780.93
As I predicted last month, my expenses were higher. I had some kind of weird things happen this month. For one, I got paid for a TON of advertising from January right at the beginning of February. This really increased my ad income for February. I also got my first (!!!) payment from Adsense in February.
Although I hate paying these pesky PayPal fees, they would be a lot higher if I didn’t have Freshbooks, to help me with my business accounting. The savings I get from Freshbooks’ PayPal policy more than pays for the fee of using their system.
One of my contractors asked that we amend our contract so he could be paid twice/month instead of once/month. This means that in my contractor expenses I paid his January invoice for the entire month of January, plus his invoice for Feb 1-15, which increased my expenses.
I also bought some training for $499.00. I am really hoping this will pay off with helping me grow my blog.
On one hand, I beat my income goal of $4,400, but when you account for expenses, I didn’t make it with my net income.
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 December through about mid-January. I have made some more since then, but it will be included on my next report since it didn’t hit my account until February 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 $3,780.93 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 March income goal at $4,600. This will be my highest income goal yet.
Here are some of my other online income reports:
January 2016 – $5,596.92
November 2015 – $5,062.21
October 2015 – $4,190.15
September 2015 – $3,372.10
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
December 2014 – $1,503.50
July 2014 – $285
For kicks and giggles I decided to average my monthly online income for the 20 months I’ve been freelancing. Even with the smaller months at the very beginning, my average monthly online income (gross) is $2,430.77. My 12 month (gross) average is $3,500.24.
Did you make any online income in February? 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!