February 2016 Income/Expense Report
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The primary goal of these income reports is to give you an idea of how we manage our online endeavours, and to give you an indication of how much it costs to live and travel in the countries that we do. We figured they will also be a great motivator for us to keep striving towards bigger numbers in terms of income at the end of every month.
If you’re new to the blog, you’ll see that our main source of income is our content creation agency that we built-up from scratch back in late 2012. You can read more about how we make money online here.
Anyway, let’s get down to business…
The report below is a breakdown of our total income for the month of February 2016 as well as a rundown of our expenses and it also states the profit or loss figure after all is said and done.
If you’d like to see our past Income reports then head on over here to check them out!
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| INCOME | EURO € |
| Content Business | €7,312.77 |
| TOTAL INCOME | €7,312.77 |
| EXPENSES | EURO € |
| BUSINESS | |
| Writers | €3,620 |
| Facebook Ads | €45 |
| TOTAL BUSINESS EXPENSES | €3,665 |
| MONTHLY BILLS | |
| Accommodation/Rent | €455.10 |
| Phone/Internet | €83.10 |
| Car Insurance | €60 |
| Hostgator | €11.50 |
| Bluehost | €8.15 |
| Freshbooks Accounting subscription | €37.20 |
| Netflix | €9 |
| Google apps account | €12 |
| Crowdfire App subscription | €9 |
| Mailchimp | €14 |
| Clicky Pro subscription | €9.10 |
| Dropbox Pro | €10 |
| Meet Edgar | €44 |
| TOTAL MONTLY BILLS | €762.20 |
| FOOD/DRINK | |
| Eating Out | €666.05 |
| Cafes | €99.20 |
| TOTAL FOOD&DRINK EXPENSES | €765.25 |
| EVERYDAY EXPENSES | |
| Entertainment | €80 |
| Clothes | €78.20 |
| TOTAL EVERYDAY EXPENSES | €158.20 |
| TRAVEL EXPENSES | |
| Transport | €263.05 |
| Flights | €115 |
| Visas | €38 |
| Tours | €502.45 |
| TOTAL TRAVEL EXPENSES | €918.50 |
| MISC EXPENSES | |
| Medical | €23 |
| Personal Care | €42.10 |
| Gadgets/Tech | €1,285 |
| Gifts | €4.30 |
| Florence Misc | €103.60 |
| TOTAL MISC EXPENSES | €1458 |
| TOTAL INCOME | € 7,312.77 |
| TOTAL EXPENSES | -€7,727.15 |
| PROFIT/LOSS FOR THE MONTH OF FEBRUARY | -€414.38 |
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Comments:
INCOME
€7,312.77 in total income for this month.
Slightly less than January’s total.
We’re happy out with these figures because as you will see from the Expense section of the report, we’d have actually profited a decent amount in Feb if I didn’t buy another unnecessary gadget!
Our single biggest paying client also informed us that they’re shutting down shop…so we’ve lost a massive recurring income stream from them this month and for the future 🙂
Ouch!!!
They were throwing about €2,500 of work orders at us every month and it was that way for nearly 16 months straight. So that’s going to sting until we lick our wounds for a while!
Anyway, we’re going to try a few new ideas this month to try and gain some more traction.
Again, this little blip highlights the tempestuous streak that the freelancing world can throw at you.
Onwards and upwards 🙂
EXPENSES
We spent €7,727.15 this month.
A considerable amount less than last month….yet we still managed to go into the red for the month by a few hundred Euro.
As I said earlier, we bought a gadget in the form of an Iphone 6s plus which we didn’t even need. If we didn’t buy this then we’d have ended up in a nice healthy position at the end of February.
Our writing team were the biggest expense as usual with €3,620 paid to them.
Here’s a few notes about some of the expenses throughout the month:
- Pre-booked Flights to Athens from Ankara (€115)
- Tours – in Romania, Bulgaria and Turkey (€502.45
- Iphone 6s Plus + accessories (€1,285)
Some notes about travel in Romania and Bulgaria for anyone that’s interested
As you guys who follow us on the blog and FB know, we’ve spent most of February in Romania and Bulgaria, so our expenses are relative to that. Both countries are pretty cheap – Bulgaria in particular is easily one of the cheapest countries that we’ve travelled in. I mean…silly cheap for the majority of things.
Sofia, which is the capital is either the first or second cheapest capital city in Europe.
Internet is magically fast in Romania…..it’s everywhere.
For a month of travel in Romania and Bulgaria, you’d easily get by on €1,500 for two people. That’s eating well, sleeping well and doing a few tours here and there.
We’ve obviously spent quite a lot of money on food so you might be thinking, ‘hey, I thought you said it’s cheap?’ Well, it is very cheap and we could have reduced our costs considerably by making a conscious decision to grab a pastry for breakfast instead of opting for an omelette in a nice cafe and we didn’t have to drink so many grande lattes from Starbucks.
But, as ever, we don’t drink much alcohol whilst travelling and good food and nice coffee is what we look forward to so we tend to not hold back, even when in some of the cheapest countries in Europe.
Check out our blog for more informative articles relating to these two countries in particular.
Negative Month
We had a loss of –€414.38 at the end of the month.
Overview
Despite another red month, we’re happy with things. We’re back travelling full-time, back hustling and enjoying exploring new countries.
The goal for March is to get back into positives figures.
Snapchat
Snapchat is where we’re investing a lot of time the past 6 months. We’ve been working hard on building up a following over there, so if you’d like to follow us, then click on the yellow tab below and it will guide you the rest of the way! Username on Snapchat = nxtstopwhoknows
What are your thoughts?
Think there’s something we can improve on with these reports? We’d love to hear from you with any suggestions.
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