January 2020 – Freelance and Blogging Income Report

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

Previous Income Reports:

• 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 January and whether I hit them or not are listed here:

• Make a net profit of $8,000 — SUCCESS!
• Gain 2 new Pinterest clients — SUCCESS!
• Have 6000 number of monthly views on my website for the month
• Post 10 blog posts this month
• Grow my email list to 400 subscribers
• Send out 2 email newsletters — SUCCESS!
• Create a new opt-in Freebie — SUCCESS!
• Make $300 in affiliate marketing revenue for the month – SUCCESS!

January was a very busy month and mostly focused on client work. So, some things slipped to the back burner like growing my email list and I intentionally posted fewer blog posts in January than I had originally planned. I’m going to continue doing about 5-7 per month and see how it goes. Any more than that and I think it will be a quick road to burn out. I’ve been there and don’t need to experience major burnout like that again!

This Month’s Revenue Breakdown:

Monthly Clients: $9,489
One Time Services: $3,010
Courses & Programs: $874
Affiliate Marketing: $322.50

Total December 2019 Revenue: $13,695.50 USD 

This Month’s Expenses Breakdown:

• Subcontractors / Writers / Virtual Team: $2,200
• Tailwind: $89.96
• Later: $29
• Calendly: $10
• Zoom: $14.99
• Asana: $37.50
• Teachable: $39
• Dubsado: $35
• Canva Pro: $12.95
• Pinterest VA Membership: $99
• SavvyVault Course: $97
• ConvertKit – $29
• Adobe Photoshop Subscription: $9.99
• Podia – $67.15
• Placeit – $14.95
• SEMRush – $99
• Social Insider – $99
• The Scalability Lounge Membership – $67

Total Monthly Expenses: $3,050.49

My expenses in January were practically the exact same as December, but my revenue was higher which means more profit!

Net Profit:

Total Revenue ($13,695.50) – Total Expenses ($3,050.49) = $10,645.01 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 February 2020:

• Make a net profit of $10,000
• Grow my email list to 400 subscribers
• Send out 2 email newsletters
• Create a new opt-in Freebie
• Make $400 in affiliate marketing revenue for the month
• Prepare for the full launch of Introvert Studios

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

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