2013 was my third full year being a self-employed vagabond, traveling around the world without flying while working from my laptop. I managed to visit eight countries during the year, starting in Thailand and ending up in South Korea. I increased my income significantly over the previous twelve months, but like a dumbass I more than doubled my expenses at the same time, and netted a loss of almost $7,000 for the year.
If you’re a regular visitor here you’ll know that I’ve been tracking all my income and expenditure since I quit my day job at the end of 2010, and sharing detailed monthly finance reports with my email subscribers. Below I’ll share with you a summary of all my income and expenses from 2013.
|Business Expenses||€ 15,269||$ 20,208|
|Food and Drink||€ 6,428||$ 8,503|
|Travel||€ 6,185||$ 8,315|
|Housing and Utilities||€ 5,432||$ 7,254|
|Gifts and Donations||€ 5,376||$ 7,135|
|Books||€ 304||$ 402|
|Miscellaneous||€ 5,533||$ 7,336|
|Total Expenses||€ 44,523||$ 59,157|
Total Expenses in 2012: €21,049 / $27,751 (view my 2012 financial summary here).
|Sigma 6 project||€ 31,605||$ 41,894|
|SEO Writing Business||€ 2,116||$ 2,769|
|Freelance web design||€ 1,343||$ 1,787|
|Gifts and Donations||€ 1,101||$ 1,466|
|Wood Egg project||€ 731||$ 989|
|$50 Blogs||€ 708||$ 924|
|Coaching||€ 349||$ 480|
|Affiliate Income||€ 332||$ 438|
|Book royalties||€ 255||$ 338|
|A Course In Courage||€ 173||$ 229|
|Miscellaneous||€ 695||$ 914|
|Total Income||€ 39,408||$ 52,228|
Total Income in 2012: €25,269 / $33,316 (view my 2012 financial summary here).
Other numbers of interest
|Total cash and bank balances on January 1, 2013||€ 8,374||$ 11,057|
|Total cash and bank balances on December 31, 2013||€ 4,036||$ 5,547|
|Difference between those two numbers||€ 4,338||$ 5,510|
|Money spent per day in 2013||€ 121.98||$ 162.07|
|Money earned per day in 2013||€ 107.97||$ 143.09|
|Lowest earning month (November)||€ 1,835||$ 2,494|
|Highest earning month (June)||€ 4,538||$ 5,904|
|Most expensive month (November)||€ 5,227||$ 7,104|
|Least expensive month (February)||€ 1,655||$ 1,966|
- I’m aware that the difference between my income and expenses for the year doesn’t match the difference between my start of year bank balances and end of year bank balances. I’ve double-checked the numbers and can’t find any mistakes in my calculations so I’m at a loss as to the cause of this. Seems to be too much of a discrepancy to attribute to inflation or interest rates. Any ideas?
- There are several expenses I regret from 2013. The apartment I rented for two months in On Nut, Bangkok was overpriced. I also overspent on food while I was living in Bangkok. Also the GoPro I bought back in April (barely used it since).
- My goal was to donate 15% of my income in 2013. I didn’t quite make the mark, falling short the last two months especially as my savings began to dwindle and I couldn’t quite justify digging into them to keep donating. Interesting that I spent about $7k more than I earned throughout the year, and my donations amounted to about the same. So if I hadn’t donated anything I would have been right at the break even point for the year. That said, I don’t regret giving away all that money. The vast majority went to causes I was happy to support. Plus, I don’t pay taxes, so giving away a chunk of my income is the least I can do to contribute back to society.
- Throughout the year I leaned heavily on the (largely passive) income from the Sigma 6 business. I’m grateful for that as it gave me the freedom to devote lots of time to experimenting with other business pursuits and getting into the best shape of my life. As previously noted though, I’m leaving that income stream behind in 2014. Might be the dumbest move ever. We’ll see.