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June 2020 Finance Report

Everything I earned and spent in Tbilisi

Below you’ll find all my finance details for June 2020.

I spent the entire month in Tbilisi, Georgia.

💵 Summary

June 2020 finance graph

Total Income € 8,026 $ 9,017
Total Expenses € 3,632 $ 4,080
Profit/Loss € 4,394 $ 4,937

🤑 Income

June 2020 income chart

Affiliate income (see below) € 7,423 $ 8,339
Coworking Bansko resell (3-month pass) 1 € 329 $ 370
Patreon 2 € 205 $ 230
eBiz Weekly coffee fund 3 € 44 $ 49
Book sales (via Amazon) € 25 $ 28
Total Income € 8,026
$ 9,017
Previous Month € 6,130 $ 6,809

I was expecting my income to be about $7000 for the month, so June turned out better than expected.

👍 Affiliate Income

Affiliate payments in June came from…

Affiliate Related Content
The Affiliate Lab Best Affiliate Marketing Course
Amazon Best Business Books For Online Entrepreneurs
Authority Hacker Authority Hacker Review
Commission Hero Commission Hero Review
Consulting.com Sam Ovens Consulting Accelerator Review
ConvertKit ConvertKit Pricing vs. Popular Alternatives
Freelance Writer’s Den eBiz Weekly
Income School Income School Project 24 Review
SafetyWing Digital Nomad Travel Insurance
Survey Junkie Survey Junkie Review
Tai Lopez Tai Lopez Social Media Marketing Agency Review
Udemy Best Udemy Courses
Wealthy Affiliate Wealthy Affiliate Review

(Btw, I don’t necessarily recommend everything I earn affiliate income from. Sometimes I’ll write a bad review of something and people will still sign up to it via my link. Humans are weird like that.)

Here’s a progress chart for affiliate income since starting eBiz Facts…

eBiz Facts affiliate income progress

Note that, to keep things simple for myself on a day-to-day basis, I practice cash accounting rather than accrual accounting.

“Under the cash method of accounting, sales are recorded when cash is received, and expenses are recorded when cash is sent out. It’s straightforward and intuitive. The problem with the cash method, however, is that it doesn’t always reflect the economic reality of a situation.” – Accounting Made Simple

The economic reality of affiliate marketing is that some companies pay their affiliates every month, while others have irregular payment schedules. As a result, my affiliate income can look more inconsistent month-to-month than it actually is.

💸 Expenses

June 2020 expenses chart

🍽 Food & Drink

Groceries € 355 $ 399
Eating out / Takeout € 267 $ 300
Total € 622
$ 699
Previous Month € 524 $ 582

🏡 Housing & Utilities

1 month at Tbilisi apartment € 400 $ 450
Cleaner € 14 $ 16
Total € 415
$ 466
Previous Month € 377 $ 419

💪 Health Care

SafetyWing travel insurance (1 month) 4 € 33 $ 37
Doctor visit € 27 $ 31
Medication € 19 $ 21
Masks € 6 $ 6
Total € 85
$ 96
Previous Month € 257 $ 285

🛫 Travel & Transport

Taxis in Tbilisi € 44 $ 49
1 day rental car in Tbilisi € 30 $ 34
Fuel for rental car € 14 $ 16
Electric scooters in Tbilisi € 6 $ 6
Total € 94
$ 106
Previous Month € 128 $ 143

💻 Business Expenses

Kinsta web hosting 5 € 820 $ 921
Outsourcing 6 € 679 $ 763
PayPal fees € 273 $ 307
Surfer subscription 7 € 52 $ 59
Patreon fees 8 € 26 $ 30
Ahrefs subscription 9 € 24 $ 27
Internet service at Tbilisi apartment € 15 $ 17
Dreamhost domain renewal 10 € 14 $ 16
Zoom 11 € 13 $ 15
Transferwise fees € 12 $ 14
YouTube Premium 12 € 11 $ 12
Adobe Photoshop monthly subscription € 10 $ 11
Google Drive storage (1TB) 13 € 9 $ 10
Virtual Post Mail 14 € 9 $ 10
Phone credit € 7 $ 8
Amazon Web Services (storage) 15 € 5 $ 6
Copycall 16 € 5 $ 6
ClickBank fees € 4 $ 5
Sendy 17 € 0 $ 0
SocialBee 18 € 0 $ 0
Teamwork project management software 19 € 0 $ 0
Total € 1,989 $ 2,235
Previous Month € 1,728 $ 1,919

🎁 Gifts & Donations

Various gifts € 89 $ 100
Flowers € 10 $ 11
Effective Altruism Fund 20 € 9 $ 10
Monthly Love & Courage podcast donation 21 € 5 $ 6
The Guardian € 4 $ 5
SamHarris.org subscription 22 € 4 $ 4
Patreon: The Blindboy Podcast 23 € 3 $ 3
Patreon: Kawehi € 3 $ 3
Patreon: Úna-Minh Kavanagh € 3 $ 3
Total € 129
$ 145
Previous Month € 69 $ 77

📚 Books

The Happy Body € 14 $ 16
Endurance: Shackleton’s Incredible Voyage € 12 $ 14
An Unsung Hero: Tom Crean – Antarctic Survivor € 8 $ 9
Total € 35
$ 39
Previous Month € 14 $ 16

👕 Clothing

Hiking boots € 107 $ 120
Long sleeve shirt € 13 $ 15
Hiking hat € 1 $ 2
Total € 122
$ 137
Previous Month € 0 $ 0

🤷‍♂️ Miscellaneous Expenses

Kitchen supplies € 35 $ 39
Toiletries € 32 $ 36
Badminton set € 15 $ 17
Netflix subscription € 11 $ 13
Monthly banking fee (Hong Kong bank) 24 € 8 $ 9
Umbrella € 8 $ 9
Quarterly banking fee (Irish bank) € 5 $ 6
Car phone holder € 4 $ 5
Cleaning supplies € 4 $ 5
Glue € 4 $ 5
iPhone armband € 4 $ 5
Glovo subscription 25 € 4 $ 4
Batteries € 2 $ 3
Monthly banking fee (Dutch bank) € 2 $ 2
Total € 140
$ 157
Previous Month € 112 $ 124

💸 Expense Summary

Business Expenses € 1,989 $ 2,235
Food & Drink € 622 $ 699
Housing & Utilities € 415 $ 466
Miscellaneous Expenses € 140 $ 157
Gifts & Donations € 129 $ 145
Clothing € 122 $ 137
Travel & Transport € 94 $ 106
Health Care € 85 $ 96
Books € 35 $ 39
Total Expenses € 3,632
$ 4,080
Previous Month € 3,209 $ 3,564

I was hoping to spend less than $3500 for the month. Went a bit over, mainly due to the web hosting upgrade which wasn’t planned but became necessary.

😢 Biggest Regret?

Nothing significant.

2020 So Far

Here’s how I’m doing this year in terms of profit and loss:

January € 1,734 $ 1,924
February € 1,948 $ 2,149
March € 1,085 $ 1,196
April € 2,394 $ 2,618
May € 2,921 $ 3,245
June € 4,394 $ 4,937
Total € 11,008 $ 12,221

📊 Where That Leaves Me

I had €16,546 / $18,377 to my name at the end of May.

Taking into account all my June 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 €21,039 / $23,636. 26

🔮 Outlook For July

Expenses will be around $4000.

Income will be around $15,000.

📲 How I Track All This

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

💬 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.

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4 Comments

  1. Hello Niall

    It is a wonderful life that you live truly ! Is it possible for anyone to start on a similar path ? I am trying to get started too but don’t know where and how to get started.
    It would be wonderful if you could comment as how should I start Affiliate Marketing as a side hustle. I am willing to put in the required efforts.

    Thanks

    1. Hi, thanks for the comment.

      For affiliate marketing, I’d recommend starting with the free training listed here.

      That said, if you’re new to working online, I don’t recommend affiliate marketing. That’s tough for beginners. It would likely be easier for you to earn a living online doing freelancing or with a remote job initially.

  2. I know that you have significantly increased your affiliate income the last few months, but what changes this month of July where you project your income to be $15K.

    1. I believe that’s mainly the result of the last major Google update. That boosted my traffic a good bit, which means more people buying some of the tools/courses I’ve reviewed.