Well hello there o’ legendary email subscriber. This is my November finance report, prepared and delivered to you from the fine city of Amsterdam.
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.
Food & Drink
|Eating out||€ 160||$ 170|
|Groceries||€ 219||$ 233|
About the same as the €360/$396 I spent in October. My ideal is to keep my total food and drink expenses around the €400 mark each month, so this was right on target.
Housing & Utilities
|1 month’s rent for Amsterdam apartment||€ 1,150||$ 1,221|
This was €0/$0 in October as I’d paid for two month’s rent in advance back in September. So a big jump this month. I could save quite a bit on rent if I shared an apartment but I’m happy to pay a premium for my own place.
|Amsterdam municipal tax||€ 60||$ 64|
|Water tax||€ 15||$ 16|
A new category since I’m now registered as a resident of the Netherlands and they’ve started to send me bills :-/
Travel & Transport
|Total|| € 0
|| $ 0
Way down from €217/$239 last month. I loaded a good bit of credit onto my travel card back in October so I was able to get around using that.
|Accountant: AGC Associates||€ 328||$ 348|
|Elegant Themes: 1 Year Subscription||€ 65||$ 69|
|Thunderbolt/HDMI cable||€ 60||$ 64|
|Edgar social media management||€ 46||$ 49|
|Gravity Forms||€ 37||$ 39|
|Dreamhost domains||€ 34||$ 36|
|AWeber email marketing||€ 28||$ 30|
|Skype credit||€ 24||$ 25|
|MemberMouse||€ 19||$ 20|
|Gumroad fees||€ 12||$ 13|
|Google Drive storage (100GB)||€ 2||$ 2|
|PayPal fees||€ 1||$ 1|
Down from the €708/$779 I spent on business in October. Some notes on the above:
- I pay my accountant in Ireland approximately €80 per week. For that he takes care of essentially everything so I need not worry about it.
- I bought the subscription for Elegant Themes for a client project. That cost has been billed to the client so I’ll be reimbursed for it in December.
- The thunderbolt/HDMI cable was for a dual-monitor setup, handy for presenting a webinar.
- Edgar is a service I started using recently to push more content out to my Facebook page. It’s pretty cool in that it allows you to automatically recycle content, so you can put a lot of evergreen stuff in there (like many of my old blog posts) and let it keeps posting on your behalf. The $49/month price tag is a bit hefty — almost $600/year! — but once I have a few things set up to make the most of the extra traffic Edgar generates, it should easily pay for itself.
- I’m using MemberMouse and Gravity Forms to create an online course for people who want to get started working online.
Gifts & Donations
Down from last month’s donation total of €30/$33.
|All The Pretty Horses *****||€ 12||$ 13|
|How Proust Can Change Your Life ****||€ 12||$ 13|
|Managing Oneself ****||€ 6||$ 6|
|A Moveable Feast ***||€ 2||$ 2|
Down from the €44/$48 I spent on books in October. You can see all my book recommendations and what I’m currently reading over on Goodreads.
Down from last month’s total of €136/$150. I have a clothing budget of €150/month and usually roll over anything unspent to the next month. For November I had €457 to play with, so now in December I could allow myself a clothing budget of €607. That seems excessive though. I want to buy a couple of things but methinks I’ll cut the budget back to €300, should be plenty.
|Entry to Sauna Deco||€ 23||$ 24|
|Toiletries||€ 21||$ 22|
|Phone credit||€ 15||$ 16|
|Bike service||€ 15||$ 16|
|Apenkooi meetup||€ 12||$ 13|
|Cinema: Spectre ****||€ 12||$ 13|
|Cold medicine||€ 9||$ 10|
|Netflix subscription||€ 8||$ 9|
|Overtoom 301 entry (nightlife venue)||€ 3||$ 3|
|Laundry||€ 3||$ 3|
|Kitchen cleaning supplies||€ 2||$ 2|
Way down from last month’s total of €283/$311.
|Housing & Utilities||€ 1,150||$ 1,221|
|Business Expenses||€ 655||$ 696|
|Food & Drink||€ 380||$ 403|
|Miscellaneous expenses||€ 123||$ 131|
|Books||€ 32||$ 34|
|Taxes||€ 75||$ 80|
|Clothing||€ 0||$ 0|
|Gifts & Donations||€ 0||$ 0|
|Travel & Transport||€ 0||$ 0|
|Total Expenses||€ 2,415
Up a bit from last month’s expense total of €1,777/$1,956. I was aiming to keep expenses under $2.5k, went a little overboard.
Away from the minuses and on to the pluses…
|Sales of Travel The World + Work Online||€ 146||$ 155|
|Google Adsense (from YouTube videos)||€ 73||$ 78|
|Blog reader donations||€ 42||$ 45|
|Book sales (via Amazon)||€ 35||$ 37|
|Affiliate income: Amazon||€ 14||$ 15|
|Total Income||€ 311
Way way way down from the €2,808/$3,091 I pulled in the previous month. In last month’s report I wrote that even $1k would be a tough target given that I’d put almost all freelance work on hold to focus on building my course.
That’s also the least I’ve earned in a month since March of 2014.
No expense I can point to as regrettable in November. Aside from rent I only spent €1,265/$1,344 while living in an expensive city. I’m content with that. Obviously my income could have been much better, but a few lean months is a price I’m willing to pay in order to focus on building the course. I believe that’s the most important work I could be doing right now.
Where that leaves me
I had €10,222/$11,252 to my name at the end of October. After applying the most recent exchange rates (I have accounts in EUR, HKD and USD), those totals shifted a little to €10,314/$10,953. Taking into account all my November income and expenditure, my total bank and cash balances now work out to €8,198/$8,706.
Here’s how I’m doing so far this year in terms of profit and loss:
- €174/$196 in January
- €2,170/$2,355 in February
- €608/$655 in March
- €1,366/$1,526 in April
- €389/$425 in May
- €1,422/$1,576 in June
- €2,945/$3,236 in July
- €689/$777 in August
- €1,686/$1,889 in September
- €1,031/$1,135 in October
- €2,104/$2,235 in November
- €4,160/$4,605 overall
Outlook for December
Expenses should be a similar story this month. I will be home in Ireland for ten days over Christmas but I already have the flights booked and paid for. I’ll be buying some gifts for family and friends but even with that I’ll aim to keep everything under $2.5k again.
Income should jump quite a bit thanks to some client payments I have due. I very much doubt I’ll make it into the green though. $1.5k is a reasonable target.
Thoughts? Questions? Speak up in the comments below.