It’s that time of the month again. 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 income that I made except for income from my day job.
However, in September of 2013, I turned in my notice at my day job as a financial analyst, and my last official work day was in October of 2013. Now, my income reports consist of the main way that I make an income each month, which is through my freelancing business.
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’ (Smart Passive Income, Budgeting In The Fun Stuff, Newlyweds on a Budget) monthly income reports and they had me interested and motivated.
Before I started blogging, I knew nothing about side hustling and making money online. I didn’t think side hustlers were worth the time, and I thought the main way to increase your income was through your day job.
Boy, was I wrong!
If it weren’t for others posting their monthly online income reports, I don’t know if I would have 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 income report is a great way to keep in touch with 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’s a wonderful thing.
How was July?
July was my best income month ever. I was very surprised by this because usually the summer months are supposed to be slower in the online freelancing world.
July was extremely busy the first week and the last two weeks. The middle of the month was extremely slow and I had almost no work come in when I was on my cruise, which worked out well but it always feels odd when I don’t work.
In July of 2014, I made $16,237 in business income, before expenses. It was another GREAT month!
This is for the month of July and before fees and expenses (fees and expenses that lower the amount above total around $1,300, which includes VAs/staff writers for my other websites, technical assistance on my websites, PayPal fees, etc.) being taken out.
After all expenses and fees, I made approximately $14,937. In the amount above, I do not include the amount that I bring in to websites that 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 $2,000, I only include my payment for my services- not the full $2,000.