After a couple of huge income months, January is down a little bit in terms of my earnings. I’m not disappointed though. I still ALMOST reached $10K. $9,882 is still nothing to sneeze at. Plus, I knew when I had my first five-figure month in November that there would still be months in the future when I wouldn’t hit that mark. Fluctuating income is just part of the joys of running your own business. 🙂
In the past few months, I’ve been trying to diversify more of my income by trying to earn more from my websites themselves, coaching sessions, and I even have plans to launch my first course later this year.
One of the ways I’ve earned more money in the past few months is with advertising. At the end of this post, I’m going to explain how I make money with advertising. But first, here’s a breakdown of my business income and expenses for January 2017.
VA/Blog Management Services – $6,752.51
Freelance and Ghost Writing – $2,055.00
Advertising on Shoeaholicnomore.com and FinancialConversation.com – $1,075.41
Coaching/Pick My Brain – $0.00 ?
Bonuses, Tips, etc.– $0.00
My income report wouldn’t be complete if I didn’t share my expenses with you. I personally enjoy reading income reports from other bloggers, but my favorite ones are the ones that share their expenses too. It looks great when bloggers say they earned $10K or $20K or some other huge number. But, I always wonder how much they are spending to earn that much money. After all, you can’t make money without spending money.
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. ?
VAs and Tech Services – $1,659.68
PayPal and Other Fees – $52.31
Supplies – $86.59
Facebook Ads – $40.00
Board Booster – $0.00 – Someone used my affiliate link.
New Computer – $100.00
Rebrand! – $1,148.50
Total Expenses: $3,087.08
Income less Expenses: $6,795.84
I’m in the throes of my re-brand now and let me just tell you, it is HARD to go through. It’s expensive and it takes a lot of time and reflection to get things done. I am working with an awesome designer and developer to get my new site concept and design completed and I can’t wait until it’s done!
My PayPal fees were lower than some months. I know they would be significantly higher if I didn’t use FreshBooks for invoicing my clients. I can’t recommend FreshBooks enough if you are a freelancer who is primarily paid by PayPal.
Board Booster is something I started using a few months ago and it has helped increase my traffic from Pinterest. I use a combination of Board Booster and Tailwind to get the most bang for my buck on Pinterest. I increased my Board Booster plan part-way through January, but I didn’t have to pay anything because someone used my affiliate link. Woohoo!
It’s also important to 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. January is when I sent in my final quarterly tax payment for 2016. I’m certain that I will still owe when I get my taxes completed.
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 31 months I’ve been freelancing. Even with the smaller months at the beginning, my average monthly online income (gross) is $4,383.87. My 12 month (gross) average is $6,948.38.
How I Make Money With Advertising
One part of my online income that has been growing quickly in the past few months is the line for advertising on this site and my other site, FinancialConversation.com. I’ve gotten a few questions about how I make money with advertising, so I thought I’d share that today.
There are several different types of advertising that bloggers can use to make money. I got into them in-depth in a blog post I wrote a few weeks ago, but I make money with advertising mostly with direct advertising and sponsored posts, and pay-per-click advertising.
My pay-per-click advertising is directly related to how many readers click on the ads in my side bar or at the bottom of my blog posts. So, these are heavily influenced by traffic numbers. Traffic can vary greatly from month-to-month, and it’s influenced by a lot of things, like social media sharing, changes to social media algorithms, and if your content is well-liked and shared by readers. My numbers for pay-per-click advertising are up and down, but are generally trending upward the last few months.
Direct advertising and sponsored posts are the main way I make money with advertising. There are a lot of companies interested in working with bloggers to promote their products and services. So, it’s a nice source of revenue if you stick to promoting products you believe in. You can also make money with advertising products with affiliate marketing, but like pay-per-click advertising, it is highly influenced by traffic. You only get paid for affiliate advertising if a reader clicks and buys something. If you use direct advertising or sponsored posts, you get paid a flat rate up-front.
That’s a short and sweet explanation of how I make money with advertising. 🙂
Do you have any questions you’d like me to answer in future reports? Let me know in the comments!