Hey there Profiteers! Welcome to my April income report. I love the springtime, but here in Ventura, we have been in the “May Gray” recently on and off. But that didn't stop me from going out to start work on a new 2 Minute Money series on YouTube. Stay tuned for more on that. But for now, let's take a look at the last month in Personal Profitability.
What's the deal with these income reports?
Money is a big taboo for many people, which means we rarely talk about things like our savings, investments, and how much we earn from side hustles and projects. One of my biggest goals at this site is to help you reach your own financial dreams, and I believe that being open and transparent with my successes and failures can help you learn to build your own income streams.
Starting in 2012, I have reported my online and side hustle income on this website every single month! Check out my online income tracker and click through to the monthly posts to see a breakdown every month starting when I made $739 online in January 2012 to my first $10,000+ month in October 2016 to my current six-figure income I earn from the comfort of my own home office. Only eight years of hard work and I was an overnight success! But using what I learned the hard way, I hope to help you do the same far faster.
This blog started as a little side hustle project back in 2008, and it completely changed my life! Thanks to my online business that started right here, I now make more money than ever before, work fewer hours, have full control over my schedule, and love my entrepreneur lifestyle. If that sounds like something you would enjoy, follow along with my income reports each month, along with my free Personal Profitability Bootcamp, podcast, videos, and other goodies.
In-depth guides for new readers:
- Complete Beginner Guide to Budgeting
- Complete Beginner Guide to Credit
- Complete Beginner Guide to the Stock Market
- Complete Beginner Guide to Freelancing
- Complete Beginner Guide to Travel Hacking
- 137 Side Hustle Ideas
Update from Profitability HQ
Two months ago saw two milestones here at Personal Profitability. Be sure to check out my 100th podcast episode and subscribe if you have not already. Also, head over to my new Personal Profitability Bookshelf, complete with video reviews of some of my favorite books in personal finance, entrepreneurship, and a few just for fun.
My in development project Community Sharer is close to being ready for community sharing! I have been paying a company in India a fee for development for the last few months, and we are close enough I think we can launch with a small beta group at the end of June. I'm using it for a few of my projects so far, and I'm very pleased with the direction. Stay tuned for the launch, coming soon!
Mastermind Hunt is well into development. I wrote a new blog post there sharing everything about mastermind groups to kick off the blog. We are on track for a launch this year in September at FinCon! We don't have all the details locked down just yet, but I'm excited for what's in the works.
Swivel Money is almost ready to launch, finally, with a very scaled down version. We rebuilt the app from the bottom up in material design so it feels familiar and Googley. More soon.
Side Hustle and Online Income Report
I know the real reason you show up here is to see how much money I make. I get it! I'm a big fan of income reports too. You can view every monthly income report back to 2012 here.
APRIL 2018 RESULTS
Personal Profitability Income – Advertising
- Affiliate Marketing – $159
- Click advertising – $0
- Direct Ad Placements – $0
- Speaking fees – $100
- Website Support – $0
- Writing Services – $10,389
- Product Sales – $0
- Flipping – $0
- Premium Plugins – $0
Gross Profit – $10,648
EXPENSES (Does Not Include My Paychecks, Taxes, or Health Insurance)
- Advertising and Promotion – $7
- Bank Charges and Payment Fees – $34
- Business Licenses and Permits – $0
- Computer and Internet Expense – $681
- Continuing Education – $0
- Conference Fees – $0
- Dues and Subscriptions – $0
- Meals & Entertainment – $20
- Swivel Money Related Expenses – $0
- SG&A – $500
- Outsourced Labor – $663
- Postage & Shipping – $0
- Professional Services – $0
- Telecom Expense – $104
- Travel – $18
- Total Expenses – $5,014
Total Revenue $10,648 Total Expenses $2,027, Profit Before Tax $8,621
I figured I couldn't keep up the strong trend of top three month records forever. This month I was back down to my old $10,000+ revenue goal. That is 4 months in a row and 17 of the last 19 months over $10k since I first broke that threshold in October 2016. Income was down a bit this month from last month, but I also cut way down on expenses month over month.
I had two months in a row of affiliate revenue $100+, which is pretty sweet. I need to start a record there too! I have spent a lot of time learning about how to best promote affiliate programs, but have yet to put my money where my mouth is and follow through on everything.
One part of making affiliate marketing work is traffic. Google has not been kind to this site since changing the name from Narrow Bridge Finance a few years ago. I'm bringing on an SEO consultant to give things a boost. I was referred through a friend in the FinCon community to the company in India that is doing the work. I'm looking forward to the results!
I also booked a speaking gig later in May in San Luis Obispo. I'll be speaking at an event with the SLO Social Services Department, and I'm thrilled to be a resource to their local community. I will be speaking on budgeting for everyday needs. Big thanks to my friend Jackie Lam at Hey Freelancer for the connection!
I have spent far too long hunting for errors and omissions insurance, and I finally found a policy that makes sense for my needs as a freelance writer. The cost is $500 per year, which is well work it to protect myself and my business from legal liability for any unintentional problems with anything I create. I try to always be perfect, but you never know. That's why there's insurance.
#nuclear is the topic today! Specifically #nuclearpower. Join Eric and Whitney as Eric guides you through some important intricacies of our energy economy and why nuclear is the way to go to avoid destroying the planet. https://t.co/mNsoLmHRT1
— Eric Rosenberg (@EricProfits) May 10, 2018
Financial Planning and Analysis
Things have been working well lately, but I need to focus more on scale. My three app projects should do just that if all goes according to plan. I'm not hoping it will work, I'm working hard to make it a success. Some big and exciting launches coming soon!
Until next time, stay profitable.