After a couple months of income decreases, I’m happy to report that my income for June was back up again.
Irregular income is just a part of running a business. It can be stressful at times, but I wouldn’t trade the other freedoms of running my online business for a steady paycheck again.
As I said last month, even though my income is variable, I actually have more job security with my online business than I had when I was working a traditional full-time job with a predictable paycheck.
Here’s a look at how my business did in June.
In June 2016 I earned $7,242.20 with my online business. Here’s how:
VA/Blog Management Services – $4,762.20
Writing – $2,160.00
Advertising on both my sites – $320.00
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 – $2,348.00
PayPal and Other Fees – $29.63
Business Tools – $490.00
Travel – $69.34
Office and Equipment – $310.73
New Computer – $100.00
Total Expenses: $3,347.70
Income less Expenses: $3,894.50
It seems like high expenses have become the norm around here this year.
In June I paid for some expensive social media tools to help me promote my content better. Although the yearly subscription cost was high, I know it will pay off in the long-run. I have been paying my VA to add all of my content into this new social media tool, but once it’s been added one time, it will never have to be added again.
The tool I started using is MeetEdgar.com and I love that it continues to use content over and over again once you’ve added it to your library. I think it will be a big time and money saver since I won’t have to pay my VA to do as much on the social media front once we get through the backlog of old content. I’ve also already seen an increase in page views to my blog from Facebook due to posting on a more regular basis.
I also paid for some of my FinCon travel expenses for September, so that just means I’ll have less on the travel line item when I get back from my trip.
I finished paying for a setup for my assistant (my brother). I got an extra computer monitor and I paid for glass to protect his desktop. I should be done buying equipment for a while now, other than maybe getting a hotspot to use when I’m traveling since public wifi doesn’t always work the greatest.
I am paying off my new MacBook via a 0% promotion, so that’s what the “new computer” expense is.
I beat my income goal of $4,800 with my gross income, but my net income was short of this 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 May through about mid-June.
Remember, that my online income has not yet been taxed. This 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 listed above. Additionally, I’m saving some of my income to be used for FINCON16 and other business expansion projects in the future.
If income reports get you jazzed, you can see more online income reports on the new page I created!
For kicks and giggles I decided to average my monthly online income for the 24 (!!!) months I’ve been freelancing. Even with the smaller months at the very beginning, my average monthly online income (gross) is $3,180.35. My 12 month (gross) average is $5,157.48.
Did you make any online income in June? 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!