Well hello there o’ legendary email subscriber. This is my October 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||€ 165||$ 182|
|Groceries||€ 194||$ 214|
Way down from €445/$498 the previous month. My ideal is to keep my total food and drink expenses around the €400 mark each month. Didn’t think I did anything super-special in October but it shook out nicely.
Housing & Utilities
Way down from last month’s total of €2,300/$2,576, which was expected since I choose to pay rent every two months instead of every month. As such, my rent for October was pre-paid.
Travel & Transport
|Flights: Amsterdam to Cork round-trip (December)||€ 144||$ 159|
|OV-chipkaart (Dutch travel card)||€ 70||$ 77|
|Buses in Utrecht||€ 3||$ 3|
|Total|| € 217
|| $ 239
Way up from the nothing I spent on travel and transport in September. I loaded a good bit of credit onto my travel card so that should keep me going for a while.
|Accountant||€ 254||$ 280|
|Kindle Station: Book cover and formatting (for The Cargo Ship Diaries)||€ 244||$ 269|
|Professional photos||€ 50||$ 55|
|AWeber email marketing||€ 27||$ 30|
|Edgar social media management||€ 45||$ 49|
|Dreamhost domains||€ 22||$ 24|
|MemberMouse||€ 18||$ 20|
|Postage||€ 21||$ 23|
|Currency conversion fee for AWeber affiliate payment||€ 12||$ 13|
|Printing, scanning, photocopying||€ 6||$ 7|
|Stationary||€ 4||$ 4|
|Google Drive storage (100GB)||€ 2||$ 2|
|PayPal fees||€ 2||$ 2|
|Gumroad fees||€ 1||$ 1|
Up a good bit from the €479/$536 I spent on business in September. 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 worried about it. My business is now officially registered but not yet trading, as I still need to get my business bank accounts sorted.
- 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 keep posting on your behalf. The $49/month price tag is a bit hefty, but once I have a few things set up to make the most of the extra traffic Edgar generates, it should easily pay for itself.
- I’m using MemberMouse to create an online course for people who want to get started working online (more on that in due time).
- Gumroad is the payment processor I used to sell Travel The World + Work Online.
Gifts & Donations
|Philip Reeves donation||€ 18||$ 20|
|Wikipedia donation||€ 11||$ 12|
|Church candle||€ 1||$ 1|
About half of last month’s donation total of $66/$74. I’m not big on donating to religious organizations but I like going into an old church and lighting a candle for my grandmother every now and then.
|Factotum||€ 11||$ 12|
|Outliers||€ 10||$ 11|
|The Checklist Manifesto||€ 9||$ 10|
|The Autobiography of Malcom X||€ 9||$ 10|
|Email Marketing Blueprint||€ 3||$ 3|
|Is $.99 The New Free?||€ 1||$ 1|
|Alice In Wonderland||€ 1||$ 1|
Up a bit from the €32/$36 I spent on books in September. You can see all my book recommendations and what I’m currently reading over on Goodreads.
|Coat||€ 129||$ 142|
|Gloves||€ 7||$ 8|
Way up from last month’s total of €44/$50. I have a clothing budget of €150/month but roll over anything unspent to the next month. For October I had €293 to play with, so now in November I’ll have €457. I very much doubt I’ll spend that much on clothing though. My wardrobe is fine for now.
|Dutch museum card||€ 60||$ 66|
|Bank transfer/currency conversion fees||€ 60||$ 66|
|Phone credit||€ 40||$ 44|
|Apple earbuds||€ 35||$ 38|
|Toiletries||€ 18||$ 20|
|Storytelling event at Pllek||€ 15||$ 17|
|Friday night entertainment at Mezrab (pay what you want)||€ 10||$ 11|
|Buddhist meditation class||€ 8||$ 9|
|Netflix subscription||€ 8||$ 9|
|Frying pan||€ 8||$ 9|
|Laundry||€ 7||$ 8|
|Sex Museum entry||€ 4||$ 4|
|Mug||€ 3||$ 3|
|Pub quiz||€ 3||$ 3|
|Printing||€ 2||$ 2|
|Kitchen cleaning supplies||€ 1||$ 1|
|Postcard and stamp||€ 1||$ 1|
Not far off last month’s total of €299/$337. Some notes:
- The museum card gives me access to pretty much every museum in the Netherlands. As long as I use it three times in twelve months, I get my money’s worth. (Unfortunately I couldn’t use it at the Sex Museum though.)
- The big bank transfer fee was on account of sending a few thousand dollars from my American bank account to my new Dutch bank account.
|Business Expenses||€ 708||$ 779|
|Food & Drink||€ 360||$ 396|
|Miscellaneous expenses||€ 283||$ 311|
|Travel & Transport||€ 217||$ 239|
|Clothing||€ 136||$ 150|
|Books||€ 44||$ 48|
|Gifts & Donations||€ 30||$ 33|
|Housing & Utilities||€ 0||$ 0|
|Total Expenses||€ 1,777
Less than half last month’s expense total of €3,638/$4,075. I was aiming to keep expenses under $2k, so mission accomplished.
Away from the minuses and on to the pluses…
|Freelance web design||€ 2,530||$ 2,785|
|Affiliate income: AWeber||€ 195||$ 215|
|Affiliate income: Danny’s Elance/Upwork course||€ 54||$ 59|
|Sales of Travel The World + Work Online||€ 16||$ 18|
|Book sales (via Amazon)||€ 13||$ 14|
|Total Income||€ 2,808
A nice chunk better than the €1,952/$2,186 I pulled in the previous month. My income goal for October was $3.5k though so I feel a little shy of that mark.
- Most of that freelance income was for work on a big client project I’d been chipping away at for a couple of months.
- I believe that affiliate payment from AWeber is the first I’ve ever received from them, despite being an affiliate of theirs for about four years now. It’s a nice chunk of change, but not exactly sustainable.
I could have done without buying two books: Outliers and Alice In Wonderland. The former I just needed for a reference that I realized later I could have done without, while I just plain didn’t enjoy the latter (not sure why that book has the reputation it does).
Where that leaves me
I had €9,304/$10,421 to my name at the end of September. After applying the most recent exchange rates (I have accounts in EUR, HKD and USD), those totals shifted a little to €9,451/$10,403. Taking into account all my October income and expenditure, my total bank and cash balances now work out to €10,222/$11,252.
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
- €6,264/$6,840 overall
Outlook for November
Expenses will jump this month as I’ll have another rent payment, though just paying for a single month this time. I don’t foresee any other big expenses, so keeping it under $2.5k total should be doable.
As for income, I’ve been cutting back on freelance work and clearing my schedule so I can focus on creating products, so I’m unlikely to earn a lot in November. Even a goal of $1k might be pushing it. I can afford not to earn much for a couple of months, but the psychology of being in the red is tough to deal with.
Thoughts? Questions? Speak up in the comments below.