Why in the world do you share your income publicly?
When I started this website more than nine years ago, I had just left a job working as a bank manager. I learned so much about misunderstood parts of banking and personal finance earning a finance degree and running a bank branch that I decided it was time to share what I had learned. I was the guy who decided if your mortgage was approved, after all, something most people never see firsthand.
I read other personal finance blogs as I worked to pay off my car loan (which I did in about half of the five year term), pay off my student loans (two years and six days after graduation), and conquer other financial challenges as a Millennial with a shiney new finance degree. I realized reading those other sites that I had a unique perspective thanks to my background, and to build trust with you, I would be completely transparent on how I deal with my own finances.
I used to share a monthly net worth update, but since stopped doing so regularly for the privacy of my family. However, I always shared what I earned online and through side hustles, and continue to do so every month. Side hustle income has changed my life, and I like to show you how in these monthly updates.
If it’s your first time stopping in, you can see a history of my online income reports here, going back to February, 2012, when I brought in $739 online. I did a whole lot better this month, but you’ll have to keep reading to find out exactly how much better and how I did it.
Most popular posts 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
A Brand New Personal Profitability Podcast
I’ve been running the Personal Profitability Podcast for about 18 months now, and I decided it is time for a change. I’ve read some interesting data on what makes podcasts successful recently, and I applying that to my own show. But as a podcast, I don’t want you to read about it! Click the short video below for a taste of things to come. It’s less than a minute long. C’mon. Give it a watch.
As you heard, the show has a completely new format starting in July! Going forward, shows will be closer to 25 minutes than 45 minutes. The show will feature a couple of segments, one a reader question or topic of the week and the second an interview with a successful personal financier or entrepreneur with useful tips for all of us to improve our own profitability.
If you are not subscribed, be sure to subscribe today. It’s completely free and a fun, educational listen perfect for your commute, fitness routine, background listening at the office, or even in the shower – seriously, I have a Bluetooth shower microphone I use to listen to podcasts. Head here for links to subscribe.
Buying Bought Moving to a house!
Two months ago I shared that my wife and I were buying a house. Last month I shared that we closed on the sale, but did a sale/leaseback that allowed the old owners to finish out the school year and find a place to live in their new hometown. Well, I’m excited to share that today is the start of moving!
While you are taking this in, I am on the way to pick up the keys and move the first load into my new house! My wife and I are so excited to get back into a house after spending the last 14 months in a two bedroom apartment with a 1 year old and two dogs. I am ready for more space and a dedicated home office so I can stop working in the kitchen.
When I moved into my first condo in Denver, I made a promise to myself that I would never do a move without movers again. That came true when we moved to Portland and again to California as a newly self employed blogger. This move is only a few miles away, but I’m sure as hell not carrying a couch or a bed down the stairs! We hired movers and expect it to cost well under $1,000. That is totally worth it to me. But to save a few bucks (the movers charge by the hour), we are going to drive over our clothes, fragile items, and artwork before the movers arrive. They will just have to carry down the furniture and some boxes. That won’t be so bad.
Getting caught up at home
I came home from my trips last month to Alabama and Victoria exhausted but energized. I got back in the flow quickly and probably ended up overworking myself a bit getting caught back up. I did some math in late May on my income progress and could tell that taking 15 days away from home, even doing some work, was going to cost me. I decided it was time to hustle and catch back up!
Because of the big move we are taking June and July off from any big travel, but I have Podcast Movement coming up in August where I’m running Ignite Podcast Movement. I may also attend my old fraternity’s annual convention in Las Vegas as it is a relatively short drive, a great way to catch up with old friends, and I may even wrangle a speaking gig out of it.
If you are interested in attending Podcast Movement in Anaheim this August, you can sign up with my code “EricRosenberg50” to get $50 off registration and an entry for a free podcasting mic from Blue Microphones. I use the Blue Yeti myself! If you have any interest in podcasting as a business, I highly recommend going. This will be my second year in attendance, and I imagine far from my last. I don’t get paid for referring anyone, but if you do sign up with my code I also get an entry for those free microphones. Learn more at Podcast Movement.
Writing – Last my month I didn’t get as much writing done as usual, which led to a busy last couple of weeks of May. I’ve had a little bit of client turnover the last month or so, which I attribute to the summer lull in online activity. I still managed to pickup a couple of new clients recently and earlier in June wrote my highest paying article ever, which was essentially an ebook. But as Jerry said, SHOW ME THE MONEY!
Speaking – I don’t have anything lined up right now, which is a bummer! But I do have a special guest, speaker extraordinaire Grant Baldwin, coming up on the first episode of the new format for the Personal Profitability Podcast! I need to get on the ball here Check out my last talk from TBEX in Huntsville available here on YouTube!
KosherFish.co – Kosher Fish is now live on the web, the Android, and the new iOS. I don’t have many other big plans for Kosher Fish. I emailed a few Rabbis to get the word out and may do an SEO/publicity outreach campaign to get the word out further. I don’t expect to make a ton of money from Kosher Fish, but I’d love to make a few more bucks than I am today!
Money Mola – Money Mola is now in the bug squashing and some final feature tweaks! The ACH platform, which was for a long time our biggest holdup, is now integrated. Expect a launch announcement sometime soon.
Entrepreneurial Income Breakdown
Now it’s time to get to the meat of the income report! If you are a new visitor, check out my entire history of income reports going back to 2012 here. That page just got a big overhaul, so long time readers may enjoy stopping in as well!
Personal Profitability Income – Advertising and Products
- Affiliate Marketing – $109
- Direct Ad Placements – $225
- Product Sales – $4
- Total Advertising – $338
- Website Support – $0 (this business closed at the end of April)
- Writing Services – $9,450
- Total Freelance – $9,450
- Flipping – $13
- Premium Plugins – $0
Gross Profit – $9,800
And like that, my streak of seven months in a row over $10,000 comes to a close. I started the year with a goal of earning an average of over $10,000 per month and I am absolutely on track to do that. However, I upgraded the goal in my head to $10,000 a month all year, which I had done from January to April.May said it wasn’t in the cards.
On a semi-ironic note, I had just shut down my monthly website support business which was making over $200 per month. Had I kept it up, I would have made the number.
EXPENSES (Does Not Include My Paychecks or Related Taxes)
- Advertising – $0
- Bank Charges and Payment Fees – $1 (some revenue reported net of fees)
- Computer and Internet Expense – $1,211
- Meals & Entertainment – $50
- SG&A – $51
- Outsourced Labor – $30
- Postage & Shipping – $3
- Professional Services – $0
- Telecom Expense – $162
- Travel – $158
- Total Expenses – $1,666
Total Revenue $9,800 Total Expenses $1,666, Profit Before Tax $8,134
Check out my full history of income reports here.
Financial Planning & Analysis
This month my revenue missed my goal by $200. That is only 2% off and still an amazing income by most measures, but I have to be honest that I was down on myself when the month wrapped up. However, I’m trying to focus on the positive, that I made a heck of a lot more than last year and compared to my old day job, plus I get a lot more free time. Like that two weeks I spent traveling North America in May. I can’t be down on myself too much with such great memories from the rocking month.
I’m going into the rest of summer with slightly tempered expectations, particularly with a few high paying clients on pause or in limbo. But new clients keep showing up to replace the ones that leave. Revenue is strong overall. I have plenty of free time. And I’m always working on side hustles to my writing business, my old side hustle, as I look for opportunities to earn even more while working less.
Until next time, stay profitable.