Hello Hello F22 Crew!
I’m back with another income report! This one is especially exciting because it ends the 2019 year! I actually forgot to do a November 2019 income report, but I know there will be plenty more in the future to make up for it!
I like writing and reading income reports because it gives freelancers and non-freelancers a look into our world! Sometimes people don’t understand exactly how we make money, or what it takes to keep a business running. So Here is my latest installment, including a year round up!
Past Income Reports!
So for December I did next to no pitching, which was intentional, but makes me feel a little anxious for the coming year. Now we know I have a 9-5 job right now as well as my freelancing business, but in January I start my MBA accelerated program as well! You can read more about that here. So in preparation for that I’ve been making a lot of content to share later, as well as ending my current contracts. I’d love to get a part-time remote job to supplement my lack of freelancing, but we’ll talk about that later!
For reference I call anything where I get paid via a 1099 and have to save for my own taxes ‘freelancing’ or a ‘client’, and anything that pays via a W-2 with taxes taken out is a ‘job’. It just helps me keep track of how much I need to set aside for taxes, and also indicates how much I pitched/work to get that income initially.
Freelancing Project Breakdowns
Reputation Management: $400
Social Media: $300
Egg Donation: $12,000
I also did a bunch of logo work for free this month. It was for friends and my boyfriend which makes me feel a little better about it, but in general you shouldn’t do free work! Your family and friends should value your work enough to pay you. So learn from my mistakes. I left roughly $750-$1,200 on the table by not charging them. (those are my business rates, though sometimes I give friends and family discounts.
I went through the initial process of setting up another blog. (More on that later!) So I paid roughly $45 for monthly hosting and the domain.
Total Profit: $12,655
Hey that’s pretty good! My social media client is finishing 12/31/2019 so I won’t have that month to month in 2020, but I am keeping my reputation management client so I will have a little funds incoming! Obviously my egg donations are not constant, and this will probably be my last, but I am paid via 1099 and it is a lot of work! So we count it here. If you want to read more about that process you can jump over to this post.
Totals for the Year:
(Or at least June-December when I started publishing these!)
So that’s a decent amount! This is after expenses, but before I set taxes aside. Considering this is only half the year AND I have a 9-5 I’m pretty proud of this. For 2020 I have a big goal to make over 100k and/or double my entire income so we shall see what happens!
So How Did I do on My Goals From October?
- Turn 26! ( Did that! Though I didn’t really have a choice….)
- Record and Edit 15 Youtube videos, to be published starting January 1st, 2020. (Ehhhh I’ve recorded 6 so far but I haven’t edited any of them yet! There will definitely be some up in Jan 2020 though.)
- Finalize everything for my masters degree. (yep! I start Jan 1, 2020 and I even got a scholarship!)
- Schedule our vacation info for Mardi Gras 2020! Wooo! (We are all set!)
- Get a new client for either social media or a website. (Nope! But we know why so that’s okay.)
- Finish all the designs for a dropshipping store I plan to open in 2020. ( I did not do this and it’s 100% my own fault.)
Goals For January 2020!
- Start Masters Program and finish 9 CU’s (aka 3 classes) in one month, putting me ahead of schedule to finish the program in one semester.
- Get a retainer email client AND/OR a part-time remote marketing position.
- Go to Seattle to see my friend Melissa, and go to Colorado with my sisters to see a Monet exhibit!
- Start blogging for my other blog and the Instagram that goes with it!
- Really beef up my Instagram game in general.
So overall I’m pretty proud of this year, though I know there is room for improvement! I’m excited to see how my hard work has paid off this next year! What goals do you have for your business in 2020?!