Hello everyone! Welcome to August’s business income (and a little bit of extra income) report. It’s time to look at my monthly income report and track my progress over the past month.
This all started out as my “extra income” report because before October of 2013, I still had my day job. In those extra income reports, I included all the income I made except for my day job.
In September of 2013, I turned in my notice at my day job as a financial analyst, and my last official day at that job was in October of 2013. Now, my income reports consist of the main way I make an income each month, which is through my freelancing business.
Some think I’m crazy for publishing my income report each month and being so public about the whole thing. I even received some flack recently from someone who sent me an email telling me I’m crazy! However, I don’t think I’m crazy (well, I hope I’m not). I publish my income reports each month for many reasons.
The main reason why I started side hustling is because I was reading other bloggers’ monthly income reports and they had me interested and motivated in making extra money. Now, it seems like there are several bloggers out there who publish their income reports, and I love reading all of them. I read income reports from Smart Passive Income, Retire By 40, Matthew Woodward, and more.
Before I started blogging, I knew nothing about side hustling and making money online. I didn’t think side hustles were worth the time, and I thought the main way to increase your income was through your day job. I believed the only way I could make money money was through raises and promotions.
Oh, was I wrong!
If it weren’t for others publishing their monthly online income reports each month, I don’t know if I would have even ever attempted side hustling.
Also, I like to publish my income reports each month because it’s a way for me to look back, learn from my mistakes and see what I need to change or improve the following month. Just sitting here and typing up this month’s income report is a great way to keep track of my business goals. It also gives me motivation because if I can see that nothing has changed in a few months I know what I need to start working on.
I know I say this every month, but it is the truth. Life is just so great now that I am doing what I want to do. I look forward to each and every day and it is a wonderful thing.
How was August?
August was another great income month, and it was my second best month after expenses. I did think August would be slightly better, only because I feel like I’ve been working a lot of 16 hour days lately. It was still a great month, and I hope it pays off in future months.
I have a lot of plans and I feel like I’ve been all over the place lately.
One area I need to work on is better time management and finding more time to enjoy myself. Instead, I usually feel like whenever I spend time doing something else, that I actually should have been working.
UGH! But that’s the life of someone who works from home. It’s hard to stop working.
That’s really the only downside of working form home though. Everything else is very positive and I wouldn’t trade it for the world.
In August of 2014, I made $15,051 in business income, before expenses.
This is for the month of August and before fees and expenses (fees and expenses that lower the amount above total around $895, which includes VAs/staff writers for my other websites, technical assistance on my websites, PayPal fees, etc.) being taken out.
After expenses and fees, I made approximately $14,156. In the amount above, I do not include the amount I bring in to the websites I provide services to. I only include the amounts that are my actual earnings from my services. So, if a website I manage makes an income of $3,000, I only include my payment for my services- not the full $3,000.