Well hello there o’ legendary email subscriber. This is my June finance report, prepared and delivered to you from the fine city of Berlin.

As usual, I’ll share with you all the details of my finances below, along with a few notes that I think you’ll find interesting.

Diving in…

June Income

June 2016 Income

3M1K 1 € 2,123 $ 2,365
Freelance web development € 762 $ 849
Loose change 2 € 109 $ 121
Book sales (via Amazon) € 36 $ 40
Total Income € 3,030
$ 3,375
Last Month € 6,487 $ 7,243

I was aiming to pull in at least €3k in June, so happy enough overall. I was hoping to collect a bit more from freelance work but got a bit scattered and didn’t put in the hours. Thankfully, 3M1K picked up the slack.

June Expenses

June 2016 Expenses

Food & Drink

Eating out € 184 $ 205
Groceries € 167 $ 186
Total € 351
$ 391
Last Month € 390 $ 435

Housing & Utilities

10 nights in Berlin AirBnb 3 € 382 $ 426
Cleaning fee for Amsterdam apartment € 30 $ 33
Rent for Amsterdam apartment 4 € 10 $ 11
Total € 422
$ 470
Last Month € 1,160 $ 1,295

Taxes

Total € 0
$ 0
Last Month € 0 $ 0

Health Care

Health insurance (monthly payment) € 101 $ 113
Total € 101
$ 113
Last Month € 101 $ 113

Travel & Transport

Lyfts in New Orleans 5 € 30 $ 33
Bus: Amsterdam to Berlin € 29 $ 32
Streetcar trips in New Orleans € 4 $ 4
Total € 63
$ 70
Last Month € 192 $ 214

Business Expenses

Outsourcing 6 € 634 $ 706
Taxes € 371 $ 413
Accountant: AGC Associates 7 € 328 $ 365
Wyoming LLC Setup 8 € 263 $ 293
Stripe fees (for 3M1K payments) € 104 $ 116
3M1K refund 9 € 95 $ 106
Notary 10 € 58 $ 65
Phone credit 11 € 56 $ 62
PayPal fees (mostly for 3M1K payments) € 42 $ 47
ActiveCampaign 12 € 41 $ 46
Teamwork project management software 13 € 26 $ 29
TransferWise fees 14 € 25 $ 28
UpdraftPlus Migrator 15 € 23 $ 26
MemberMouse 16 € 18 $ 20
iPhone charger € 14 $ 16
T-Mobile SIM card 17 € 14 $ 16
Printing/scanning/photocopying € 6 $ 7
Virtual Post Mail 18 € 4 $ 4
Google Drive storage (100GB) € 2 $ 2
Amazon Web Services (more storage) € 1 $ 1
Total € 2,125
$ 2,367
Last Month € 1,828 $ 2,041

Gifts & Donations

Gifts for friends € 53 $ 58
Camp fire party donation 19 € 5 $ 6
Newark airport charity box 20 € 3 $ 3
Total € 60
$ 67
Last Month € 127 $ 142

Books 21

Total € 0
$ 0
Last Month € 6 $ 7

Clothing

Tuxedo rental 22 € 168 $ 187
Espirit blue jeans € 40 $ 45
Guess blue shorts € 31 $ 35
Guess black v-neck t-shirt € 13 $ 14
Espirit green v-neck t-shirt € 13 $ 14
Total € 265
$ 295
Last Month € 8 $ 9

Miscellaneous Expenses

Big black suitcase 23 € 75 $ 84
Electric shaver 24 € 11 $ 12
Toiletries € 8 $ 9
Netflix subscription € 8 $ 9
Amazon movie rental: Deadpool **** € 4 $ 4
Kitchen cleaning stuff € 1 $ 1
Monthly banking fee (Dutch bank) € 1 $ 1
Total € 108
$ 120
Last Month € 142 $ 159

Expense Summary

Business Expenses € 2,125 $ 2,367
Housing & Utilities € 422 $ 470
Food & Drink € 351 $ 391
Clothing € 265 $ 295
Miscellaneous Expenses € 108 $ 120
Health Care € 101 $ 113
Travel & Transport € 63 $ 70
Gifts & Donations € 60 $ 67
Books € 0 $ 0
Taxes € 0 $ 0
Total Expenses € 3,495
$ 3,893
Last Month € 3,954 $ 4,415

My goal was to keep expenses under €3,000, so didn’t quite make it. Business expenses were what did me in; I failed to anticipate several there.

Biggest Regret?

I outsourced some client work during the month and the contractor didn’t do a great job so I had to hustle and get it done myself, spending more than a dozen hours at it. Those are hours I could have used to work on other freelance projects and earn another several hundred yoyos, so that stung a bit.

Lesson learned: check in with a contractor after their first 2 hours of work to make sure they’re on track, rather than leaving them alone for a week and assuming it’s all going according to plan.

Where That Leaves Me

I had €9,579/$10,695 to my name at the end of May. After applying the most recent exchange rates (I have accounts in EUR, HKD and USD), those totals shifted a little to €9,582/$10,673.

Taking into account all my June income and expenditure, my total bank and cash balances now work out to €9,798/$10,914. 25

Outlook For July

Expenses should be down a good bit. Business expenses won’t be nearly as high and my accommodation is mostly paid for already. I’ll aim to keep everything under €2k, which might be a bit of a stretch but I think it’s doable.

Income is tougher to predict. I plan to get back to regular freelance work but I’m unlikely to see the fruits of that until August. 3M1K always has the potential to generate a lot of revenue, but unless I get a bunch of new leads into the sales funnel, I doubt I’ll even earn €1k there. If I manage to pull in €2k the entire month, I’ll be doing pretty well.

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.