It’s time to review my online income report from last month. This report only includes income I received from the month of September. If I haven’t received the money, then I don’t put it in this income report. This is the best way for me to track how much money I am making on a monthly basis.
This was a transitional month for me. To be blunt, I didn’t really work. I took some unexpected time off for about three weeks in September. I worked maybe 15-20 hours in all of September. This produced some interesting results for my online income, which I’ll get to below.
Second, I completed the final phase of cutting down on freelance work. My freelance work used to make up around 90% of my blog income every month; now it’s around 10% of my income. While I will be decreasing this source of income, I am growing other areas of online income.
Third, I’m struggling with writing online income reports. I like writing them because I like being able to track my progress. At the same time, I go through phases where I don’t like talking about money. Ironic, as I started as a personal finance blogger, right?!
I’ve had this blog for almost two years and have been able to maintain a lot of privacy. I keep my real life separate from my blog life. To this day, only a few people know I even have a blog. I have this fear of friends or family finding my blog and then reading about my income, regardless if I’m making $0 or $100,000 (I can dream, ha!) For now I’m going to keep doing income reports, but I’m getting more uncomfortable with it all 🙂
Here are some previous online income reports:
- April 2015 online income report (my very first online income report) $61.83
- June 2015 online income report $66.10
- July 2015 online income report $515
- September 2015 online income report $1530.94
- October 2015 online income report $3634.28
- December 2015 online income report $4238.99
- April 2016 online income report $5920.52
- May 2016 online income report $7,268.68
- June 2016 online income report $9,700.11
- July 2016 online income report $9,566.15
Breakdown of my September online income report:
September was my eleventh month freelancing full time. A year ago I was still at my day job and blogging part time. Starting this blog has changed my life and I can’t imagine doing anything else!
- $924.74 Ad revenue
- $0 Partnerships/Sponsorships
- $3,580.50 Affiliate Income
- $1,377 Courses + products
- $800 Freelancing
GRAND TOTAL: $6,682.24
Ok, so first thoughts are I am down around $3,000 from August. Here’s why:
- I accepted a couple of new sponsorships in September, but haven’t been paid yet. This seems like the first time in a long time I haven’t received income from partnerships/sponsorships.
- I wasn’t able to promote my courses as much as I normally do since I took some time off. Instead, I relied on my email funnel sales.
- Reduced freelance income, as mentioned above.
Online income breakdown
This income amount is the grand total before I deduct taxes. Right now I am putting away 30% of each paycheck I receive. If I break this down into sections of income, it looks like this:
- 12% freelance income
- 88% in ad income, products, affiliate income
Courses and products
Because I am not in launch mode, I expected my sales from my online courses to decrease over time. In September I relied on sales funnels to earn money from my two online courses.
It is awesome that I was able to make money from my courses without doing anything thanks to email funnels or direct traffic, but it also shows me that I need to keep up with promoting if I want to make more income from this source of revenue.
Both courses will be getting a makeover in the coming months. I’m also debating whether I want my courses to be evergreen or switch to an open/closed enrollment period. Either way, these projects will be keeping me busy!
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- My Pinterest Pin templates have been such a fun and unexpected product that I created! I receive a lot of emails from readers who struggle with making pins for Pinterest. So I created a dozen Pinterest pin templates that are fully customizable that everyone can use! You can learn more about the Pinterest pin templates here.
These are my September expenses:
- $5 Google Apps
- $113 VA work
- $9.95 FreshBooks – I stopped using PayPal and did the 30 day trial with Freshbooks. I pay 50 cents per transaction (regardless of the invoice amount) as opposed to 3-4%of the invoice amount in PayPal fees. That’s crazy!
- $99 Teachable
- $110 Affiliates
- $79 ConvertKit. I use ConvertKit and LeadPages together. I’ve created some really great newsletters, funnels, sign up forms and even hosted webinars with both of these companies. I don’t include LeadPages in every income report as an expense because I pay it quarterly.
- $0 Tailwind. I pay for this annually. Tailwind is the scheduler I use when I do all my pinning on Pinterest. It’s my favorite scheduler I use for my clients and myself.
- $0 Bluehost. I pay tor this annually as well. This is the company I used when I first started my blog and still use today! Here’s a tutorial on how to get started blogging.
TOTAL EXPENSES: $415.95
This month my expenses were around 6% of my budget. I try to take care of a lot of things on my own so I don’t have to outsource.
I think it’s crazy that I worked under 20 hours in September and made over $6,000. This tells me that my hard work for creating passive income is working. After stepping away for a few weeks, nothing fell apart, ha!
However, when I don’t work, my income decreases. I didn’t have time to work with brands to line up more sponsorships/partnerships nor have time to focus on promoting my courses.
Either way, I never made $6,000 working only 20 hours at my day job, so I’ll take it 😉
Bright Bloggers + Business
I’ve teamed up with Allison (AllisonLindstrom.com) to create an amazing Facebook group called Bright Bloggers + Business. This is a safe, encouraging environment for all you bloggers, entrepreneurs and online business owners. Click here to join our private group!