If you're new around here, it might be best to have quick read through the first and second income report I published in August and September, respectively, to find out what exactly I'm doing here and why. Basically, each month I'd like to share the following: How much I earned, how much I spent/invested into my business and on what and what I learned during that month. So let's get to it.
October 2015 Earnings:
- Social Media Projects: 1.958,00€
- Copywriting: 1.815,00€
Total Revenue (excl. VAT): 3.773,00€
October 2015 Expenses*:
- Adobe Creative Suite: 8,50€
- Google Apps: 4,00€
- Website Hosting: 46,10€
- Phone & Internet: 43,00€
Total Expenses: 101,60€ (*Not included: social insurance payments, taxes, rent, utilities)
Total Net Profit: 3.631,40€
FYI: Please bear in mind that the sum you see above is definitely not the amount of money I get to spend this month, as at least 50-66% of it goes directly into a savings account as I will definitely need it to pay for my final tax and social insurance payments at the end of the year as well as next year.
Again, October looks a lot different than the previous month's income report - mainly, because I took three weeks off to travel Vietnam with my husband and therefore decided not to take on any additional projects in October and November. Because I was obvisouly aware this, I was able to plan ahead and took on quite a few projects in September to balance out the lower income in the following two months - something every freelancers does, I'm sure. It's great to be able to do this, however, it's also always a little scary to have to say no to projects because you're not able to commit to them. For some reason, even after 4 years of knowing how my finances work and how much I need to survive and thrive, I still have a bad feeling in my stomach when turning down possible work.
Whilst mainly focusing on our Kickstarter campaign for #letsdothisNY (which is still going until Nov 30!), I also had the immense pleasure to work on the second edition of the Marco Simonis Bastei 10 Zeitung, which comes out twice every year and features stories around the amazing concept store in Vienna - truly one of my favorite clients!
To be honest, the break I took from work was definitely a much-needed one, and it helped me put a few things into perspective - I'll touch more on that in another post soon. Suffice to say that I am SO ready to start my coaching course with Jen Carrington next week and get to work on planning for 2016!
Now, tell me: What do you think of these income reports - do you find them informative, helpful or just TMI in general? Let me know in the comments or tweet me your thoughts.