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September 2020 Finance Report

Everything I earned and spent in my business

These are my online business finances for September 2020.

I spent the whole month in Tbilisi, Georgia.

💵 Summary

September 2020 finance graph

Total Business Income € 14,554 $ 17,063
Total Business Expenses € 4,543 $ 5,326
Profit € 10,011 $ 11,737

🤑 Business Income

September 2020 income

Affiliate income (see below) € 14,244 $ 16,699
Patreon 1 € 273 $ 320
Book sales (via Amazon) € 20 $ 24
eBiz Weekly coffee fund 2 € 17 $ 20
Total Income € 14,554
$ 17,063
Previous Month € 11,360 $ 13,578

I was expecting my income to be around $12k, so September turned out better than expected 😊

👍 Affiliate Income

Affiliate payments in September came from…

Affiliate Related Content
Amazon Best Business Books For Online Entrepreneurs
Authority Hacker Authority Hacker Review
ClickBank University ClickBank University Review
Commission Hero Commission Hero Review
Consulting.com Sam Ovens Consulting Accelerator Review
ConvertKit ConvertKit Pricing vs. Popular Alternatives
Earn More Writing Earn More Writing Review
Income School Income School Project 24 Review
Respondent Respondent Review
SafetyWing Digital Nomad Travel Insurance
Tai Lopez Social Media Marketing Agency Review
Udemy Best Udemy Courses

(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 graph September 2020

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

September 2020 expenses

🤝 Hired Help

Hired Help 3 € 1,558 $ 1,827
Total € 1,558 $ 1,827
Previous Month € 921 $ 1,101

📆 Monthly Subscriptions

Surfer 4 € 50 $ 59
Ahrefs 5 € 23 $ 27
Zoom 6 € 13 $ 15
YouTube Premium 7 € 10 $ 12
Adobe Photoshop € 9 $ 11
Google Drive storage (1TB) 8 € 8 $ 10
Virtual Post Mail 9 € 8 $ 10
Copycall 10 € 5 $ 6
Total € 127 $ 149
Previous Month € 124 $ 149

🤓 Hosting & Domains

Dreamhost domains 11 € 27 $ 31
Kinsta 12 € 0 $ 0
Total € 27 $ 31
Previous Month € 17 $ 20

📚 Books

Shoe Dog € 13 $ 15
The Ride Of A Lifetime € 8 $ 10
Total € 21 $ 25
Previous Month € 20 $ 24

🏦 Transaction Fees

PayPal fees € 458 $ 537
Patreon fees 13 € 34 $ 40
ClickBank fees € 8 $ 10
TransferWise fees € 3 $ 4
Respondent fees € 2 $ 3
Total € 506 $ 593
Previous Month € 678 $ 810

💻 Home Office Expenses

MacBook Pro 14 € 1,589 $ 1,863
Cable management box (x2) € 24 $ 28
Cable clips (x2) € 16 $ 19
Phone credit € 14 $ 17
Power extension € 12 $ 14
USB wall charger (x2) € 12 $ 14
USB-C to HDMI cable € 11 $ 13
Phone stand € 10 $ 12
Floor cord protector € 9 $ 11
HDMI cable € 9 $ 11
Total € 1,706 $ 2,001
Previous Month € 162 $ 194

📋 Admin Expenses

Admin expenses € 5 $ 6
Total € 5 $ 6
Previous Month € 12 $ 15

🤷‍♂️ Miscellaneous Expenses

Chase Sapphire Reserve credit card annual fee € 384 $ 450
Newsletter giveaway 15 € 92 $ 108
ProBlogger job post € 60 $ 70
Brain Support Supplement (30 day supply) € 18 $ 21
Nootropic Brain Boost (30 day supply) € 18 $ 21
Skype credit € 8 $ 10
FlexJobs membership 16 € 6 $ 8
Amazon Web Services (storage) 17 € 6 $ 7
Sendy 18 € 0 $ 0
SocialBee 19 € 0 $ 0
Teamwork project management software 20 € 0 $ 0
Total € 593 $ 695
Previous Month € 477 $ 571

💸 Expense Summary

Hired Help € 1,558 $ 1,827
Home Office Expenses € 1,706 $ 2,001
Miscellaneous € 593 $ 695
Transaction Fees € 506 $ 593
Monthly Subscriptions € 127 $ 149
Hosting & Domains € 27 $ 31
Books € 21 $ 25
Admin Expenses € 5 $ 6
Total Expenses € 4,543
$ 5,326
Previous Month € 2,413 $ 2,884

😢 Biggest Regret?

Nothing significant.

🗓 2020 So Far

Here’s how my business is doing this year in terms of profit and loss:

January € 84 $ 94
February € 3.424 $ 3,776
March € 3,366 $ 3,710
April € 3,240 $ 3,542
May € 4,246 $ 4,717
June € 6,037 $ 6,782
July € 14,588 $ 17,242
August € 8,947 $ 10,694
September € 10,011 $ 11,737
Total € 53,943 $ 62,294

🔮 Outlook For October

Expenses will be lower than September, probably between $3k and $4k.

Income should be at least $12,000.

📲 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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