October 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 October 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||€4,420.25|
|Freshbooks Accounting subscription||€37.20|
|Google apps account||€12|
|TOTAL MONTLY BILLS||€2,759.27|
|TOTAL FOOD&DRINK EXPENSES||€923.08|
|TOTAL EVERYDAY EXPENSES||€197.61|
|TOTAL TRAVEL EXPENSES||€283.33|
|TOTAL MISC EXPENSES||€430.25|
|PROFIT/LOSS FOR THE MONTH||+€609.54|
Happy November folks.
This report details our income and expenses having worked and travelled in Berlin and currently Budapest during the month of October.
We’ve been settled for 3 weeks now in Budapest and we love the city. Extremely cheap, buzzing cafe scene (you can be assured our cafe expenses are going to be high) and plenty to do and see (although we’ve done nothing yet) 🙂
We generated a total of €9,623.33 in income for the month.
Beats lasts months income by a couple of hundred and fell just shy of the 10k mark.
This time of year always gets pretty hectic for us with business because a lot of clients need to deplete their yearly budgets.
If you remember November and December’s report last year, you’ll have seen how things change come the end of the year.
We’ve already seen a similar trend for the next two months and we’re more than confident of breaking the €10,000 barrier in November and December. We’re silently hoping that December will be a really big month revenue wise so that we can recoup the expenses we’ve invested in our new business over the past few months.
We spent €9,013.79 last month.
Roughly the same amount of expenses as in September.
We paid for 9 weeks accommodation up-front for our apartment here in Budapest which will take care of those expenses up until we fly back home for Christmas.
We definitely should see an increase in our profits for the rest of the year due to the fact that it’s lovely and cheap here.
Seriously, maybe it’s just because we were in Vegas before coming here or something, but Budapest really is cheap for the standard of living you get.
The last time we visited the city was in 2007 and we always remember it as being a really cool city, and it’s not disappointed us on this visit either.
Here’s a few notes about some of the expenses throughout the month:
- Macbook laptop charger – €95
- Virtual Assistant Work – €99. 50
- Flight: Berlin to Budapest – €44.87
We had a profit of +€609.54 at the end of the month.
As I said above, we expect November and definitely December to be big revenue months for business.
We’ve been building our new agency business the past few months and we’ll be ready to launch properly with it in January.
Putting together a team of individuals for our agency has proven to be more difficult than we thought.
Finding the right team members is very important for us, especially when we’ll be working with real brick n mortar clients and growing their business through SEO and lead generation.
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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