I don’t know if I’ll ever get sick of saying this, but my guess is probably not: THIS MONTH ROCKED!
March was my highest income month yet and I’m finally getting the hang of using my team to help me get everything accomplished so I don’t have to work like a crazy person with lots of 10, 12, and more, hour days.
Even though I love running my business, I don’t enjoy working those long days on a regular basis, so it’s nice to know that building my team and learning to outsource is finally paying off.
In March 2016 I earned $7,080.17 with my online business.
VA/Blog Management Services – $4,733.92
Writing – $1,886.25
Advertising on both my sites – $460.00
Bonuses, Tips, etc.- $0.00
A few months ago, I started sharing my expenses with you too so you can get a better idea of how much I spend to keep my business going every month.
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 – $1,673.50
PayPal and Other Fees – $62.35
Office and Equipment – $163.71
New Computer – $633.93
Travel Expenses – $3.55
Website Updates – $36.75
Podcast – $45.00
Shipping – $15.40
Total Expenses: $2,634.19
Income less Expenses: $4,445.90
Although I’m excited that my net income went up from last month to this month, I am a little shocked at how much I spent this month on expenses.
Some of the extra expenses are for a new MacBook Pro which I financed at 0% interest for 12 months. It was almost $2,000 and I made an initial payment of $500 this month to help bring down the cost. I plan to pay it off well before the promotion expires. You will see a computer payment in my monthly expenses going forward until it’s paid off, but rest assured I’m not buying a new computer every month, it’s just my monthly payment to pay off my new Mac. 🙂
Of course, when you buy a new computer you also need to get some software and accessories too, so that is also included in my expenses above.
I’ve also been working on creating an extra workstation in my home office because my brother has come onboard to help me with my business and we enjoy working together in the same space so we can collaborate on some projects and tasks. I’ve purchased an extra office chair, a chair mat, and some extra equipment, like a power strip and a mouse, for him to use while he’s here. He’s working at a make-shift desk right now while I hunt for another wooden desk at a good price. Plus, I wanted to spread out these extra expenses a little bit so they didn’t all hit at once.
I blew my income goal of $4,600 out of the water with my gross income, but my net income was just a little bit short of that figure.
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 February through about mid-March. I have made some more since then, but it will be included on my next report since it didn’t hit my account until April 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 $4,445.90 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 April income goal at $4,700. 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
- April 2015 – $1,691.51
- March 2015 – $2,131
- February 2015 – $1,534
- December 2014 – $1,503.50
- July 2014 – $285
You can see even more on the new page I created.
For kicks and giggles I decided to average my monthly online income for the 21 months I’ve been freelancing. Even with the smaller months at the very beginning, my average monthly online income (gross) is $2,652,17. My 12 month (gross) average is $3,912.67.
Did you make any online income in March? 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!