For updates on my income reports every month click here.


My first income report, what’s that all about?

For the last few months, I’ve been considering the option of starting an income report. I’ve had various reservations about starting one, primarily my main concern has been that people may think that I’m out to make money when my main goal is to help people grow.
 
What I didn’t want to do was to have the focus of my blog be about making money, because that’s not the reason I’m writing it. I worried that if I started measuring income from my site that would be my main drive for the content, instead of focusing on helping people. This is a trap that I have fallen into before in my career, always chasing the money but that never making me happy.
 

I’ve decided to do a monthly income report because as I get closer to leaving my job it’s the perfect opportunity for me to not only track my own income but also to look at expenditure related to my blog and business. After all, an income report isn’t only about what’s coming in, it’s also about what’s going out too, right?
 
I want to use this income report as a measuring tool for both myself and new starters so I can look back in a year’s time and see how far I’ve come. This will hopefully allow new starters to see what progress can be made, even when you’re just starting out.
I’ve read a lot of other people’s blogs in the last 9 months and what inspired me was to see people who did income reports and how after making a few £100 pounds in their first few months their income levels seemed to sky-rocket. I put this down to them seeing the progress they made and using it as momentum, like rocket fuel!
 
So without further waffling, I’ll jump into my income report for this month!

Income report for June 2017

June seems like the perfect place to start for my first income report. In this month I refocused my effort on my blog which I’d been neglecting for the last 6 months. I committed myself to some new freedom goals:Freedom goals in journal
  • To leave my job by the end of September.
  • To make at least £300 a month in side income.
  • To speak to a new family member and friend daily.

Generally, it’s been very much a month of self-improvement! To read in a bit more detail about the changes I’ve been making this month you can check out my journal entry here on getting started vs getting confused!

First, let’s look at some of the spendings this month.

Expenditure

Start with the good stuff right? For now, I won’t include my regular living costs and spending habits until I quit my job. I’m going to look at only including expenses that are related to my blogging activities. Do you guys think this is the best way to go about tracking my outgoings? Let me know in the comments as I’d love to know what you, my readers would like to see in this section.
Let’s get started!
  • $197 (Approx £150) The Paradise Pack – By far my biggest expense this month has been buying The Paradise Pack (Check out my weekly journal on my progress through the pack here). What is reassuring is knowing that by investing my time into the pack I’m going to be adding value not only my life but also to my bank balance in the coming months.
  • £30.96 Leuchtturm1917 Bullet Journal Notebook & STABILO Fineliner, Rollerset, Wallet of 25 – After reading a great post on katieruns.com I’ve decided to get onboard and organize my life in a physical journal. I’ve been investing my time this month into Heath Armstrong’s Sweet Ass Journal and I loved the idea of keeping a diary. Keeping a physical log of my activities seemed a great idea so I invested in a bullet journal. Don’t forget the pretty epic looking pens for doodling and writing.
  • £12.54 Sweet Ass Journal to Develop Your Happiness Muscle in 100 Days I invested in a physical copy alongside the digital copy I already have from The Paradise Pack. Why? So I could have a physical copy I can take with me when I go traveling to start my 100-day journey fresh again. I also bought the copy so I could give Heath a review, since this guide has helped me so much I wanted to give back a little. I’d encourage any of you to get a copy and leave him some feedback!
  • £3.54 Miscellaneous Yorkshire Tea Bag & Milk usage – Being English, I’ve always drunk tea religiously. Due to the increased early mornings and late nights working on my blog, I’ve definitely seen tea levels increase. Naturally, it needed a mention here (we do have to be honest with ourselves now, don’t we?)
Heath's Sweet Ass Journal To Develop Your Happiness Muscle In 100 Days
My physical copy of Heath’s journal came through!

I’ve definitely invested quite a bit this month in growing both myself and my site for the future.

Income (the good stuff)

Before we dive into the income for this month I’d like to share something that will seem obvious. Most of my income this month has been grown from side hustles and other means that aren’t a direct reflection of my ‘business’ ideas that I’d like to grow. With that in mind, as it’s money that I wouldn’t have otherwise earned if I wasn’t focused on my blog and changing my life, I thought it was worth including!

£187.80 Matched betting whilst using Matchedbets.com

MatchedBets.comI’ve wanted to do Matched Betting for quite a long time (you know when it’s always on your to-do list?) I signed up with matchedbets.com which is a very simple website to follow, it gives you all the training you need. You can sign up for free and make your £50 in a few trades to give you a bit of confidence before you invest in the site. To get the full benefit of their site you need a membership, $14 a month or $99 annually. The site explains the whole process with videos and guides (I’d never even done even a simple bet before, let alone matched betting). It took me 2 weeks and a bank of £300 to make the £190 this month. So now I have £590 in my bank which was risk-free. It’s worth noting that matched betting isn’t gambling, for more information check out the site. The second half of the month I’ve been more focused on blogging and haven’t spent any time on the bets, but I’ll go back into more of this next month! I’m planning to write a blog series in the next few weeks on how to get started with matched betting. Let me know in the comments if you’d be interested in reading this.

$65 in BlueHost Affiliate income

Some of you already know that I’m an affiliate for BlueHost, which is the web hosting company that I use to host my blog. (If you’re interested in signing up with BlueHost to make your own WordPress blog click here). What’s great about affiliate income is you recommend great products that you use. For me, the aim is always helping others pursue their dreams, and for many, that is to start blogging. Blogging has been one of the most empowering things I’ve done in the last few years and has given me a stage to speak my mind and focus on what I want out of life. If I can help somebody else achieve the same thing, and help them achieve their goals, I’m all for it. I was concerned If I used an affiliate product that people would think I was just out for myself, knowing I would earn a commission if they signed up. What surprised me was that everybody who I’ve helped start blogging, who was aware I was an affiliate for BlueHost, didn’t seem to mind at all. If anything they seemed happy that I was able to get a reward for helping them get a good product. I love this, as what I’d love to do is have the financial freedom to be able to help people. If helping people also gives me financial freedom it’s going to allow me to give my time to even more people!

If you're interested in signing up for your own blog you can check the availability of your URL using the widget below.

£1250 in selling personal belongings

This was a shocker! Part of my Sweet Ass Journal is all about minimizing in my life. What I’ve since realized is I have a lot of pointless/expensive things that I hardly use and didn’t actually need! So I sold as much of it as I could, and I’ve never felt better. This is what I’ve sold so far:

  • A Playstation 4 with lots of games
  • A Sony 60″ Television
  • 2 x 22″ PC Monitors I hadn’t used in 2 years
  • 2 x 25″ computer monitors for my main PC I used once in a blue moon for gaming
  • A gaming computer which again was sporadically used
  • An iPad
  • An old HD5850 graphics card
  • A leap motion controller for the computer

That’s only the tip of the iceberg; this all added up to £1250 added to my travel fund. The good news is that this will buy me the gear I need to travel as well as my flights around Europe and Thailand. I’m hoping to make the flight to Thailand in November (more on my travel plans in the future…stay tuned).

Final Notes

So what are my thoughts on my first month back into my blog and my income and outgoing? Largely I’m very happy with what I’ve achieved in a very short space of time. The income generated is going to be larger in this first month due to the fact the majority of it has come through selling belongings I already owned, but I hope this will in the future serve as an inspiration for both myself and others reading about what is possible (I’m also hoping that I’ll look back in 12 months and be happy with the progress I’ve made…and hopefully have started earning enough of a side income so that I can still be traveling!).

Now I want to hear from you guys about your experiences. Let me know in the comments about what you’re facing right now.

  • Firstly, are you tracking your incoming and outgoing and making a list of wins? What are those wins? I wanna hear about them!
  • Secondly, what have you tried this month that’s been a success? I want you to inspire me and others reading your comments.
  • Finally, let me know in all honesty if you like hearing about money talk on the blog or if you prefer not knowing!

I’m going to try to do an income report every month. If you’re interested in hearing about when the next income report will be launched, Sign up here and I’ll email you directly.

Wish me luck!

Jamie

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Author

Finding ways to leave work and follow my travel dreams ? Aspiring entrepreneur & blogger ? Retail Sales Manager

6 Comments

  1. This is fantastic! Thank you for the shout out and for sharing these great tools! These are avenues I hadn’t considered before reading your post. I think you made a great choice with the Leuchtturm journal and my favorite pens on the planet! You’ve got this!!! Keep up the momentum Jamie!

    • Yes thank you for inspiring me Katie on the journal! I LOVE the pens and the journal is very helpful in planning! You’re welcome for the shout-out, maybe we should collaborate more in the future 🙂

  2. Hey Jamie,
    as always great read! Yes please keep writing about your financial achievements, at least for me it’s superhelpful to gage realistically what I can expect with similar ventures, and since I am sure you will be even more successful in the future, also very motivating for us others 🙂 !
    Love how much you have already achieved, not only financially! So I am more or less successful with Heath’s journal as well (it’s due to my slacking, not his awesome tool, of course) and have just today officially started with the Money Mindfulness programm…let’s see where that will take me 😉
    I haven’t sold any stuff yet but managed to weed out two big plastic bags of clothes from my closet, a few hundred books from my VERY huge library and started digitizing my CDs and giving the actual “analog” music away (which is, to be fair, not 100% minimizing since I keep a digital version, but living without my music is really not an option). And boy, does getting rid of the stuff feel great, even if I am not as ingenious as you in creating an income with it.
    Stay classy!

    • Hey Alex! Ok I’ll keep writing about my ups and down’s with finance, hopefully It’ll help you and others gauge what is possible, lets hope it helps to keep me accountable to! Love that you’re starting the money mindfulness course, I should really start it but … I just love spending money too much! Most of my money goes on social situations so its going to be hard for me to learn how to say no going forward. Congratulations on getting rid of so much already, your doing great. Keep it up and see how much stuff you can live without, it’s so much fun!

  3. Hi Jamie – I liked reading your thought process on deciding to publish an income report. I think it’s a great way to be transparent with your readers and helps make you more accountability for tracking expenses etc. Love that you put your tea expenditure in there. I’m a tea drinker too 🙂
    I have just started monetising my blog and I feel very strongly about not letting the drive for income take over the content. I’ve chosen affiliate marketing because I can pick and choose which companies and products the blog is associated with, selecting only those I truly believe in. However they aren’t always the highest selling/paying options!

    • Always great to have a fellow tea drinker on board Zoe! Thanks for your feedback, I’m glad you liked the post. I’m the same as you Zoe, I don’t want monetization to get in the way of me helping my readers, awesome to hear you’re at the same stages as me. I’ll check out your site, thanks for commenting!

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