Income Report – February

Income Report - February 2014 // erineflynn.com
February 2014 Income Report // erineflynn.com

Well, at least it’s not negative this month, right?

Truth be told, I actually have a few checks sitting around waiting for me to drive them to the bank because I’m lame and don’t have a phone with which I can deposit them–have you seen that? I know it’s not really new anymore, but man, how nice would it be to just snap a photo of a check and deposit it in a bank account? But nope, my Nokia flip phone can barely receive text messages. Oh well.

February Income Report

  • Design Work: $0.00
  • Maintenance Work: $2,225.00
  • Affiliate and Advertising Sales: $0.00
  • E-course Sales: $111.56

Total: $2336.56 (before expenses)

What these things mean

Design Work: Anything that involves me designing something. A website, header, graphics of any kind, etc.

Maintenance work: Hosting, 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 2013 they’re all lumped together in my accounting software.

Affiliate & Advertising Sales: Affiliate programs I’m a part of (Studio Press, BlueHost, etc.), Google Adsense, and ads I sell on this blog. 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.

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.

February Expense Report

  • Advertising: $0.00
  • Domains/Hosting: $132.04
  • Licenses: $589.76 (includes TurboTax license this month)
  • Paypal Fees: $33.23
  • Training: $0.00
  • Office expense: $36.00

Total: $791.03

What these things mean

Advertising: Any ads I purchase, to promote my business, blog, and/or specific products or services.

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.

Paypal fees: This one is pretty obvious, don’t you think?

Training: Courses or books to improve my mad skillz and my business.

Office expense: Anything I need for my office; furniture, paper, etc.

February 2014 total profit: $1,545.53 (before taxes)

Notes: Since I had a negative month last month, my profit should probably be counted as $925.91 instead.

As I mentioned before, I’ve got a few checks here that need depositing, these total $1,150, so a decent chunk of cash. I’m just incredibly lazy and getting to the bank once a month is about as good as it gets. These payments will show up on my March income.

Also, have you noticed I have yet to make any money from design this year? Lately all my income is coming from maintenance and coding.

How did you do in February?

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Comments

  1. says

    Again – I love these posts. It’s nice to hear real-world experience from the freelance trenches.

    Licensing seems soooo expensive! Golly! How are you feeling about the brunt of your income this year coming from coding and maintenance? Or I suppose the better question is – what would you rather be doing?

    My anxiety would definitely not allow me to sit on cheques to be deposited (in that amount at least :P). I actually just read about the photo deposit the other day (apparently I’m behind in the times too). However, I feel like there are a few things I’m kind of stuck in my ways/paranoid about, and one of those things is depositing cheques. I like to physically go to the bank and know that someone (or a machine) is accepting my wonderful deposit :P

    • says

      Yeah, I always scratch my head at people who are like, “there’s basically no costs involved in making a website”–do they not purchase fonts or plugins or anything? I guess there’s no cost involved if you’re just using free stuff–but that typically ends up costing more because a lot of free stuff is crap.

      I don’t mind that most of my income is coming from coding/maintenance at all. I just feel like it’s time to re-position my business a bit to reflect that. To be honest, as much as I like design, I find coding to be much more straight-forward and easier. There’s not the same back and forth as with design, which can be nice sometimes.

      My laziness outweighs my anxiety when it comes to depositing checks. We seriously don’t have a bank very close, and the banks aren’t close to anywhere else I go, so to make a special trip just to deposit checks doesn’t happen often. I’ve been debating over whether a check scanner is worth it, but at $25/month I might be too cheap. :P

  2. says

    A few thoughts on the check thing. I have a smart phone but I do not do the scan deposit. My hubby said he’s read some bad stories about that and advised against it. I don’t mind driving to the bank and it’s super close for me. If it’s consistently an issue for you, why not offer payment via Paypal or credit card? I realize there are usually small fees involved with both but you can write it off as an expense.

    • says

      I try to avoid Paypal because of the fees–I’d pay $33.95 on the two checks I have to deposit right now. Cheaper to get a check scanner from the bank for $25/month!
      I do take some payments via Paypal, but if I did all of my payments via Paypal I’d pay about $100 for each website design just in Paypal fees. Not worth it! I’ll just drive to the bank once a month. :) I think I’d spend as much, if not more, processing credit cards too.
      Maybe one day those options would be worth it, but right now I don’t feel like I’m making enough to be paying the extra fees for easier payment processing!

  3. says

    You’re awesome for sharing these! As someone who is starting design studies this fall, it gives me great insight of freelance possibilities and real incomes. I’ve planned to start freelancing part time while still in school, too, and having real life examples of what’s possible give me great perspective. Thanks! :)

  4. Leah says

    Those charts sure look better than mine right now. I sell vintage clothing and I was hit with a lot of once-a-year costs in January and February, so I’m working to recoup my losses.

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