January 2012 Self-Employment Income and Expenses

Since this blog is all about How I Make Money Blogging, I will be breaking down the past month’s online income and expenses at the beginning of each new month from here on out. You can see my traffic stats for my main blog, Budgeting in the Fun Stuff, at the beginning of every month too. So here we go!

January 2012 Income Breakdown:

• Ads on Budgeting in the Fun Stuff: $3101.91
• Ads on my other blogs: $1060.00
• Writing (Staff Writing and Ghost Writing): $175.00
• Freelance Online Tasks: $24.25
• Ad Negotiations for Other Sites: $15,918.96
• TOTAL GROSS INCOME: $20,280.12

Please keep in mind that I had been working in a professional position with my very own cubicle from June 2005 to July 2011 for $35,500 a year at my highest point (less than $3000 a month).

As you can see, my advertising business and regular advertising is really the only thing we are leaning on right now.  I will grow passive income streams online at some point, but right now we need to put all of our effort into the growing business.

January 2012 Expenses

• Outsourcing: $353.00
• Paypal: $807.91
• Empire Expansion: $1090.17
• Scribe SEO software: $0.00 – I cancelled the service since it has taught me what I needed to know
• BFS Giveaways: $0.00 – I paid at the end of December and will be sending the January prize tomorrow
• My Newsletter Monthly Giveaways: $25.00
• Prize for Another Blog’s Giveaway:  $25.00
• TOTAL: $2301.08 (about 11%)

I am now outsourcing my social media, my BFS newsletter, blog carnival submissions, niche site development for 6 new niche sites, my backups and back end work, staff writing on co-owned sites, and any sponsored posts. Plus, Jesse and I are buying up at least 1-2 dormant sites a month to grow our online empire. I am trying to keep my overall spending to less than 15% of what I bring in for right now just to help me feel comfortable, especially now that Mr. BFS is working from home with me.

January 2012 Net Income = $17,979.04

Please keep in mind that more than a third of that is being put away for taxes. BUT WOOT!!! WHOO-HOO!!! So happy!!!! Since this is the fifth month in a row that I beat the $10,000 mark, Mr. BFS and I are now aiming for $15,000 a month or more.

Any recommendations, questions, comments, or anything?