Here be all my finances for January. I spent the entire month living in Las Palmas de Gran Canaria.

Summary

Total Income € 2,828
$ 3,048
Total Expenses € 3,496
$ 3,768
Profit/Loss € 668
$ 720

Income

30DBC 1 € 1,392 $ 1,500
Freelance web development 2 € 586 $ 632
3M1K 3 € 438 $ 472
Chase Sapphire Reserve credit 4 € 233 $ 251
Google Adsense payment 5 € 78 $ 84
Coaching / Consulting 6 € 74 $ 80
Book sales (via ebizfacts.com) 7 € 15 $ 16
Book sales (via Amazon) 8 € 12 $ 13
Total Income € 2,828
$ 3,048
Last Month € 4,140 $ 4,355

I was aiming to pull in at least $2.5k in January and beat that easily enough.

Expenses

Food & Drink

Eating out € 136 $ 147
Groceries € 239 $ 258
9 Total
€ 375
$ 404
Last Month € 410 $ 431

Housing & Utilities

2 months coliving in Las Palmas 10 € 773 $ 833
Cleaner for Las Palmas apartment 11 € 40 $ 43
Total € 813
$ 876
Last Month € 236 $ 248

Health Care 12

Total € 0
$ 0
Last Month € 108 $ 114

Travel & Transport

Flights: Gran Canaria (LPA) to Tenerife (TFN) round-trip 13 € 84 $ 91
Taxis in Las Palmas € 8 $ 9
Rental car 14 € 4 $ 4
Buses in Gran Canaria € 2 $ 2
Total € 98
$ 106
Last Month € 196 $ 206

Business Expenses

Outsourcing 15 € 766 $ 826
2 months coworking a CoworkingC 16 € 300 $ 323
Teamwork project management software 17 € 240 $ 259
MemberMouse 18 € 199 $ 215
Consultation with US tax attorney 19 € 139 $ 150
UpdraftPlus Premium 20 € 88 $ 95
ActiveCampaign mailing list software € 45 $ 49
PayPal fees € 19 $ 20
Irish business credit card annual fee 21 € 19 $ 20
Domain registration: cheapflightchecklist.com 22 € 13 $ 14
Book: The Subtle Art of Not Giving A F*ck 23 € 12 $ 13
TransferWise fees 24 € 11 $ 12
Phone credit € 10 $ 11
Virtual Post Mail 25 € 9 $ 10
CoworkingC Pitch Night 26 € 5 $ 5
Gumroad fees € 2 $ 2
Postage € 2 $ 2
Google Drive storage (100GB) € 2 $ 2
Amazon Web Services (more storage) € 1 $ 1
Total € 1,882
$ 2,029
Last Month € 814 $ 856

Gifts & Donations

Food for homeless dude outside supermarket € 3 $ 3
Total € 3
$ 3
Last Month € 81 $ 85

Books 27

Tools of Titans ***** € 15 $ 16
At Home *** € 12 $ 13
Genghis Khan and the Making of the Modern World **** € 11 $ 12
El Principito 28 € 2 $ 2
Total € 40
$ 43
Last Month € 34 $ 36

Clothing

Shoelaces € 2 $ 2
Total € 2
$ 2
Last Month € 51 $ 54

Miscellaneous Expenses

Spanish lessons 29 € 127 $ 137
Ticket for CoworkingC carnival party 30 € 70 $ 75
California Sports Club 31 € 40 $ 43
Toiletries € 17 $ 18
Tinder Plus 32 € 14 $ 15
Netflix subscription € 10 $ 11
Monthly banking fee (Dutch bank) € 2 $ 2
Laundry detergent € 2 $ 2
Kitchen cleaning supplies € 1 $ 1
Total € 283
$ 305
Last Month € 215 $ 226

Expense Summary

Business Expenses € 1,882 $ 2,029
Housing & Utilities € 813 $ 876
Food & Drink € 375 $ 404
Miscellaneous Expenses € 283 $ 305
Travel & Transport € 98 $ 106
Books € 40 $ 43
Gifts & Donations € 3 $ 3
Clothing € 2 $ 2
Health Care € 0 $ 0
Total Expenses € 3,496
$ 3,768
Last Month € 2,145 $ 2,256

I was aiming to keep my expenses under $2.5k for the month so I failed miserably there. It was a conscious choice though to pay for a few things in advance in exchange for discounts, which saves me money in the long run. All of those advance payments added up to about $1k.

Biggest Regret?

The client project I bought UpdraftPlus Premium for feel through, so that was a waste of $95. Hopefully I can use it on other projects. Also forgot to cancel my Irish business credit card and got stung with the €19 annual fee.

Where That Leaves Me

I had €9,780/$10,288 to my name at the end of December.

Taking into account all my January income and expenditure, and the most recent exchange rates – I have accounts in EUR, HKD and USD – my total bank and cash balances now work out to €9,582/$10,329. 33

Outlook For February

I’ll aim to keep expenses below $2.5k again, which should be doable. Income should be close to $4k from freelancing alone, so I’ll aim to $5k total.

Feedback Welcome

Thoughts? Questions? Speak up in the comments below.

Archived Finance Reports

I’ve been posting these monthly finance reports since January, 2011. You can view all my old reports via this page.

Curious as to how I track everything I earn and spend? Check this video…