I can’t believe I’m writing my 18th online income report. This online business has certainly been a life-changer for me. I never thought I’d have quit my job to work from home. But here I am and I’m so happy with the way things are working out so far.
That said, I have no idea what’s next for my business. I feel like I accomplished such a huge goal for my business and my life in 2015 by building my business to the point that I could quit my job, so I really don’t know where I want to go from here.
Because of the uncertainty, I am in the market for a business coach to help me figure out a new plan and some goals for 2016. If you know of a good business coach, let me know. 🙂 But for now, let’s talk about my income from December 2015.
My online income for December 2015: $5,372.08
Here is a breakdown of how I earned my money:
VA/Blog Management Services – $3,052.08
Writing – $1,425.00
Advertising on both my sites – $550.00
Bonuses, Tips, etc.- $345.00
Last month 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 – $489.00
PayPal and Other Fees – $43.92
Bonuses and Gifts for Contractors and Clients – $132.02 – This is a rare expense
Travel – $108.98 – This is a rare expense
Equipment – $130.67 – This is a rare expense
Total Expenses: $904.59
Income less Expenses: $4,467.49
I definitely think December was a month with more expenses than usual. Now that I’ve added it up, I don’t think my business expenses are usually that high.
However, last month I told you that in an effort to prioritize my health and my work-life balance, I did take on some additional help for my business. This month reflected the first invoice from that.
Even with these extra expenses, I still made almost as much as last month despite having cut clients and hiring extra help, and I did beat my income goal of $4,000.
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 November through about mid-December. I have made some more since then, but it will be included on my next report since it didn’t hit my account until January 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 $4,467.49 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 January income goal at $4,200. This will be my highest income goal yet.
Here are some of my other online income reports:
- November 2015 – $5,062.21
- 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
- December 2014 – $1,503.50
- July 2014 – $285
For kicks and giggles I decided to average my monthly online income for the 18 months I’ve been freelancing. Even with the smaller months at the very beginning, my average monthly online income (gross) is $2,071.93. My 12 month (gross) average is $2,734.36.
Did you make any online income in December? 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!