At the start of each month, I share my business income report. This began as my “extra income” report because, before October 2013, I still had a day job. These reports included all income except for my regular job salary. However, I quit my day job in October 2013, and now these reports reflect my primary income from freelancing.
I share these reports for several reasons. Initially, I was inspired by reading other bloggers’ income reports, which motivated me to start side hustling. Seeing real people make money online was eye-opening and encouraging. Without those reports, I might not have pursued side hustling.
Publishing my income reports also helps me review my progress, learn from mistakes, and set future goals. Writing these reports keeps me connected to my business objectives. Life has been fantastic since I started doing what I love, and I look forward to every day.
I began my blog as a hobby, never imagining it would become a side income or a full-time career. If someone had told me this a few years ago, I wouldn’t have believed them.
June was a great month. I earned $40 more than the previous month, which I consider a win. I also got married, and with wedding planning behind me, I have more time to focus on my business. I’m currently working hard because I have many ideas for the future. Being motivated makes work enjoyable, and July looks promising based on the first week.
In June 2014, I made $13,787 in business income before expenses. After deducting about $1,000 in fees and expenses, my net income was approximately $12,747. This figure includes only my earnings from services, not the total income of the websites I manage.
Here’s a summary of my extra income over the months:
– May 2012: $672
– June: $994
– July: $1,425
– August: $1,603
– September: $3,275
– October: $3,700
– November: $5,114
– December: $5,770
– January 2013: $6,523
– February: $5,983
– March: $7,862
– April: $7,859
– May: $7,641
– June: $10,192
– July: $11,117
– August: $9,554
– September: $12,334
– October: $11,927
– November: $13,387
– December: $12,160
– January 2014: $12,640
– February: $13,454
– March: $12,100
– April: $13,493
– May: $12,747
I love self-employment, but it’s still a job and a business. I spend many hours on it, but I’ve become better at streamlining tasks and outsourcing. This isn’t passive income, though I hope it will be someday. For a long time, I earned nothing despite working full-time hours on my side jobs. Taxes also take about 30% of my extra income, and I cover my own retirement, health insurance, and vacation time.
If you have any questions about my monthly business income, feel free to ask.
In other news, I recently had a site redesign by Chelsea at Olive & Ivy Design. She did an amazing job, and I highly recommend her. My other blog, Diversified Finances, is doing well, and I plan to redesign it soon. I also have a travel blog that I’m building up and will share more about once it’s ready.
In June, we took a two-week road trip to Colorado. Working on the road wasn’t much different from working at home, thanks to good planning.
My plans for my website and business include starting an eBook, building my brand, promoting more, and accepting more interviews. June was decent for staff writing, but I plan to apply for more positions to get my name out there.
Finding staff writing or virtual assistant jobs can be done in two ways: they find you, or you find them. To attract clients, have a “Contact/Hire Me” page on your blog and participate in related forums. To find clients yourself, use job boards and reach out to publishers. For more tips, check out my article on finding writing jobs.
If you need a staff writer or content writer, let me know. I offer quick turnaround and reliability. For more on becoming a freelance writer, read my article on the topic.
I own six websites and manage several others. I’m considering adding more to my portfolio. Managing websites and social media for clients is something I enjoy and want to grow. If you need help managing your blog or social media, feel free to contact me.
Affiliate income has been slow, but I aim to increase it in 2014. Affiliate income can be like passive income, requiring minimal maintenance after setup. I plan to review more programs and services soon.
Here’s my business and extra income breakdown for June:
– Staff writing: $790
– Managing websites and social media: $5,149
– Website-related income: $5,998
– Affiliate income: $525
– Selling items: $0
– Miscellaneous: $0
– Mystery shopping: $0
– Rent (from my sister): $325
I’m often asked to break down my income further, but I keep some details private to protect my livelihood. Revealing exact sources could lead to losing clients to competitors.
Comparisons and 2014 Business Income Total (after expenses, but before taxes):
– Total extra income for June: $12,787
– Income in May: $12,747
– Difference: +$40
– Total in 2014: $77,221
How did you do in June? What are your extra/business income goals?