November 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 November 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!
|TOTAL BUSINESS EXPENSES||€4,782|
|Freshbooks Accounting subscription||€37.20|
|Google apps account||€20|
|TOTAL MONTLY BILLS||€246.45|
|TOTAL FOOD&DRINK EXPENSES||€629.57|
|TOTAL EVERYDAY EXPENSES||€128.3|
|TOTAL TRAVEL EXPENSES||€3|
|Next Stop Marketing||€878.70|
|TOTAL MISC EXPENSES||€1,349.3|
|PROFIT/LOSS FOR THE MONTH||+€3,094.99|
Happy Christimas folks! A little early for all that, I know!
This report details our income and expenses having worked and lived in Budapest for the month of November.
We’re nearing the end of our two months here and we’ve literally done nothing but work on our current business and also continued to build our new agency business.
We generated a total of €10,233.61 in income for the month.
It feels nice to hit a 10k month again as it was December last year since we had our last one.
As predicted, November and December – right up until the day before Christmas Eve is going to be our busiest time of the year.
Hopefully it’s going to be a close call as to whether we can beat last December’s revenue of 25k.
The content orders have already been flowing in heavily the past 2 weeks so we’ll have to wait and see.
Either way, we’re delighted to be in the position of having another big December.
We spent €7,138.62 last month.
Having already pre-paid for the month of November with our accommodation means that November’s expenses decreased a little.
As we said, Budapest is pretty cheap overall. Couple that with the fact that we eat out very little and didn’t actually do anything apart from work – then it’s easy to keep the costs down.
We’ve just been focusing on work really hard these past two months as we are launching our new online marketing business in January.
We also managed to land our first client for it – so we’re really excited at what the potential could be for next year and beyond.
Here’s a few notes about some of the expenses throughout the month:
- Virtual Assistant work – €457
We’ve a really good new VA that’s been helping us lay the foundations of our new business. In order for us to be able to grow and scale our new business over time, we need a good solid team behind us.
- Cafes – €169.56
That’s not much considering there’s two of us working for a few hours each day 7 days a week in cafes!
- SEO Software – €117
We’re trialling out a piece of software that will help completely manage most of our SEO headaches when it comes to link building, managing clients etc.
We had a profit of +€3,094.99 at the end of the month to bank.
We’re going to have a big month in December, which is needed because January is always going to be a dead month biz wise.
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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