February 2020 – Freelance and Blogging Income Report

Welcome to my freelance and blogging income report for February 2020.

Previous Income Reports:

• January 2020 – $13,695.50 Revenue
• December 2019 – $10,363.90 Revenue
• November 2019 – $9,619.30 Revenue
• October 2019 – $9,584.39 Revenue
• September 2019 – $6,300.75 Revenue
• August 2019 – $5,397.25 Revenue

I thought a lot about whether or not I wanted to publish a monthly freelance and blogging income report but after thinking about the pros and cons, I know how helpful they were to me prior to making the leap into the world of freelancing and blogging. It is my hope that these reports will continue to show my growth as the months go on and showcase what is possible when working from home.

NOTE: While I am in Canada, most services and clients are billed/paid in USD currency so that’s what currency I am continuing to use for these reports.

Updates this Month:

My goals from last month’s report for February and whether I hit them or not are listed here:

• Make a net profit of $10,000 — Success!
• Grow my email list to 400 subscribers — Success! 421
• Send out 2 email newsletters — Missed, I only sent out 1 email in February!
• Create a new opt-in Freebie — Success! 
• Make $400 in affiliate marketing revenue for the month — Success!
• Prepare for the full launch of Introvert Studios — Success!

With February being a shorter month, I didn’t make my goals for the month too crazy. I’m very happy with my affiliate marketing income for the month, especially since I’ve pretty booked up with client work and managing new contracts this month! It’s given me a little push to focus more on my affiliate marketing strategy going forward, though.

This Month’s Revenue Breakdown:

• Monthly Clients & One Time Services: $15,367.31
• Courses & Programs: $485
• Affiliate Marketing: $578.45

Total February 2020 Revenue: $16,430.76 USD 

This Month’s Expenses Breakdown:

• Subcontractors / Writers / Virtual Team: $3,903.40
• Tailwind: $89.96
• Later: $29
• Calendly: $10
• Zoom: $14.99
• Teachable: $39
• Dubsado: $35
• Canva Pro: $12.95
• Pinterest VA Membership: $99
• SavvyVault Course: $97
• Convert Kit – $29
• Adobe Photoshop Subscription: $9.99
• Placeit – $14.95
• SEMRush – $99
• Social Insider – $99
• The Scalability Lounge Membership – $67
• Kajabi – $199
• Writing Revolt Course – $147
• ClickUp – $57

Total Monthly Expenses: $5,052.24

Expenses were quite a bit bigger in February because I have switched from Asana to ClickUp, signed up for Kajabi and have signed up for a couple of courses to continue learning and improving my skills.

Net Profit:

Total Revenue ($16,430.76) – Total Expenses ($5,052.24) = $11,378.52 USD

Keep in mind, my net profit is before my 30% held back for taxes, equipment costs, etc.

For larger yearly subscription expenses, rather than split the payment across the next 12 months, for these reports, I am going to include revenue and expenses when they are paid to make it easier on myself to create these reports accurately. Months that yearly payments come out will definitely have a higher expense number but that’s how it rolls when it comes to online businesses.

My Goals for March 2020:

• Make a net profit of $12,000
• Grow my email list to 500 subscribers
• Send out 2 email newsletters
• Make $500 in affiliate marketing revenue for the month

I’ll be posting an income report for March to see if I met my goals for the month!

I hope this freelance and blogging income report was interesting to read!