These are my online business finances for March 2022.
I spent the entire month in Tbilisi, Georgia.
I’ve been tracking everything I earn and spend since January 2011, just a few weeks after quitting my day job. Every month since, I’ve published one of these finance reports.
Sharing this info publicly keeps me accountable and hopefully gives you some insight into how I earn a living online.
Patrons get to see each new report before anyone else.
💵 Summary
| Total Business Income | € 13,599 | $ 15,089 |
| Total Business Expenses | € 2,385 | $ 2,646 |
| Profit | € 11,214 | $ 12,443 |
🤑 Business Income
| Affiliate income (see below) | € 13,407 | $ 14,876 |
| Patreon 1 | € 177 | $ 196 |
| Tip Jar 2 | € 8 | $ 9 |
| Book sales (via Amazon) | € 7 | $ 7 |
| Total Income | € 13,599 |
$ 15,089 |
| Previous Month | € 8,771 | $ 9,776 |
I was expecting my income to be around $15k for the month. One of those rare occasions when my prediction was quite accurate.
👍 Affiliate Income
Affiliate payments in March came from…
(Btw, I don’t necessarily recommend everything I earn affiliate income from. Sometimes I’ll write a negative 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…
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.
💸 Business Expenses
🤝 Hired Help
| Hired Help 3 | € 1,034 | $ 1,148 |
| Previous Month | € 2,856 | $ 3,205 |
📆 Subscriptions
| Cloudflare Pro Plan (monthly) 4 | € 18 | $ 20 |
| Secret outreach tool 😉 | € 17 | $ 19 |
| YouTube Premium (monthly) 5 | € 11 | $ 12 |
| Virtual Post Mail (monthly) 6 | € 9 | $ 10 |
| Adobe Photoshop (monthly) | € 6 | $ 7 |
| Copycall (monthly) 7 | € 6 | $ 7 |
| AAWP (annual) 8 | € 0 | $ 0 |
| Ahrefs (annual) 9 | € 0 | $ 0 |
| BerryCast 10 | € 0 | $ 0 |
| Brainiac (annual) 11 | € 0 | $ 0 |
| ConvertBox 12 | € 0 | $ 0 |
| EasyCron (annual) | € 0 | $ 0 |
| ExpressVPN (annual) | € 0 | $ 0 |
| GeneratePress Premium (annual) 13 | € 0 | $ 0 |
| Google Drive storage (annual) 14 | € 0 | $ 0 |
| Income School’s Project 24 (annual) 15 | € 0 | $ 0 |
| Instantly 16 | € 0 | $ 0 |
| JotForm (annual) 17 | € 0 | $ 0 |
| LastPass (annual) 18 | € 0 | $ 0 |
| Readwise (annual) 19 | € 0 | $ 0 |
| SocialBee 20 | € 0 | $ 0 |
| SOUNDRAW 21 | € 0 | $ 0 |
| Surfer (annual) 22 | € 0 | $ 0 |
| Teamwork project management software (annual) 23 | € 0 | $ 0 |
| Trends (annual) 24 | € 0 | $ 0 |
| Zoom (annual) 25 | € 0 | $ 0 |
| Total | € 68 | $ 75 |
| Previous Month | € 157 | $ 177 |
🤓 Hosting & Domains
| Kinsta (annual) 26 | € 0 | $ 0 |
| Dreamhost 27 | € 0 | $ 0 |
| Total | € 0 | $ 0 |
| Previous Month | € 0 | $ 0 |
📚 Books
| Call Me Ted | € 2 | $ 2 |
| Total | € 2 | $ 2 |
| Previous Month | € 12 | $ 14 |
- See my book ratings and everything I’m currently reading over at Goodreads
🏦 Transaction Fees
| Transaction fees 28 | € 478 | $ 530 |
| Previous Month | € 322 | $ 362 |
💻 Office Expenses
| Skype credit | € 9 | $ 10 |
| Internet | € 7 | $ 8 |
| Total | € 16 | $ 18 |
| Previous Month | € 16 | $ 18 |
📋 Admin Expenses
| USA LLC Annual Report Filing | € 56 | $ 62 |
| Total | € 56 | $ 62 |
| Previous Month | € 0 | $ 0 |
🎁 Gifts & Donations
| Student Review Giveaway | € 451 | $ 500 |
| Total | € 451 | $ 500 |
| Previous Month | € 0 | $ 0 |
🤷♂️ Miscellaneous Expenses
| JobRack job post | € 179 | $ 199 |
| Asana for Bloggers | € 87 | $ 97 |
| Amazon Web Services (storage) 29 | € 14 | $ 15 |
| Total | € 280 | $ 311 |
| Previous Month | € 101 | $ 113 |
💸 Expense Summary
| Hired Help | € 1,024 | $ 1,137 |
| Transaction Fees | € 478 | $ 530 |
| Gifts & Donations | € 451 | $ 500 |
| Miscellaneous | € 280 | $ 311 |
| Subscriptions | € 68 | $ 75 |
| Admin Expenses | € 56 | $ 62 |
| Office Expenses | € 16 | $ 18 |
| Books | € 2 | $ 2 |
| Hosting & Domains | € 0 | $ 0 |
| Total Expenses | € 2,385 |
$ 2,646 |
| Previous Month | € 3,465 | $ 3,889 |
I was expecting to spend about $5,000 overall, ended up less than that mainly because I still didn’t get around to hiring more help and making planned donations.
😢 Biggest Regret?
Nothing significant.
2022 So Far
Here’s how I’m doing this year in terms of profit and loss:
| January | € 8,842 | $ 9,911 |
| February | € 5,246 | $ 5,888 |
| March | € 11,214 | $ 12,443 |
| Total | € 25,302 | $ 28,242 |
🔮 Outlook For April
I expect expenses to be around $4000, with the biggest expenses being hired help and gifts/donations.
Income should be about $13,000.
📲 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.
