Uhm, oops. I kinda forgot to post this because I was on vacation in July. Also, I made almost no money because I was in vacation in July. Oops.
July Income Report
- Affiliate and Advertising Sales: $55.96
- Consulting/Mentorship: $0.00
- Design Work: $0.00
- Development work: $750.00
- E-course Sales: $0.00
- Maintenance Work: $425.00
- Refunds: $0.00
Total: $1230.96 (before expenses)
What these things mean
Affiliate & Advertising Sales: Affiliate programs I’m a part of (Studio Press, Gravity Forms, etc.), and Google Adsense. I only count this as income AFTER it is deposited in my bank account. I don’t do a ton of affiliate marketing or ads, so sometimes my earnings sit in the program for months before I ever get them. Any earnings listed here are likely an accumulation of several months’ earnings finally being deposited in my bank account.
Consulting/Mentorship: Consult calls and mentorship for designers and small business owners.
Design work: Anything that involves me designing something. A website, header, graphics of any kind, etc.
Development work: Full site development, theme development, etc.
E-Course sales: Sales of my e-course, of course. Most customers have purchased at a discount. I receive payment approximately two months after the sales occur. For example, in February I received payment for my December course sales.
Maintenance work: Hosting setup, coding, plugin installations, etc. I lumped these all together because I often do coding/website tweaks as part of clients’ monthly maintenance packages. I will possibly break this down further in the future to distinguish between new coding projects and actual maintenance work, but for 2014 they’re all lumped together in my accounting software.
Refunds: Money I get back from business expenses that I get refunded on. Like training programs, software, etc. Not really income, but for the sake of the blog post…
July Expense Report
- Advertising: $0.00
- Contractors and freelancers: $100.00
- Domains/Hosting: $0.00
- Licenses: $21.42
- Meals and entertainment: $0.00
- Office expense: $0.00
- Other expenses: $270.70
- Paypal Fees: $23.08
- Training: $0.00
What these things mean
Advertising: Any ads I purchase, to promote my business, blog, and/or specific products or services.
Contractors and freelancers: Anyone I hire to do something for me, or finder’s fees for client referrals.
Domains/Hosting: Any new domains, hosting plans, or renewals. I typically pay for an entire year, not month-to-month, so some months this may be non-existent and others it may be crazy.
Licenses: Plugins, fonts, software, or any other type of licenses for my business or a client websites.
Meals and entertainment: Meetings with clients or to network.
Office expense: Anything I need for my office; furniture, paper, etc.
Other expenses: Filing fees, random stuff.
Paypal fees: This one is pretty obvious, don’t you think?
Training: Courses or books to improve my mad skillz and my business.
July 2014 total income: $815.76 (before taxes)
Notes: My biggest expense in July was a smart phone. Yeah, I’d totally been using a circa 2006 flip-phone, but it kept dropping calls and really didn’t even work in our basement apartment. So… I upgraded to a smart phone. Which is pretty fun, as long as I remember to pause my inbox at the end of the day so I don’t constantly check my emails!
I was on vacation for about two weeks in July, so really didn’t get much work done.
Pro tip: When you’re self-employed, vacations don’t just cost you a plane flight and a hotel–you give up your paycheck for as long as you’re on vacation.
So vacations, although fun and required for sanity, can be quite expensive when you work for yourself.
But it was worth it.
How’d you do in July?