I still have some sorting out to do next year.
I’ve cracked June and July, two months that used to form part of a trilogy of dodgy months, but I still haven’t got myself into a position where August is okay.
That’s all I want really, for my August income to be okay. I’d like it to be enough to cover all my expenses (household and personal), my savings and investments and my £200 spending money every month.
I did really well during the first half of the year by setting extra money aside to cover weaker months. May wasn’t great. You can see that income report here.
💰 However, I had enough extra money from the previous months that I barely noticed there was a blip. I’ve come up with a little plan to finally nail this problem next year which I’ll share with you soon.
Q. How was your summer (or winter) doing business online in June, July and August?
Q. What would you recommend to someone going through a month-long dip in income?
💬 Your ideas in the comments section might just help some other Clubhouse members make positive changes to their business preparations so please do share. All genius ideas are welcome here! 💡🤓
The Clubhouse in October 🏠
Before I get into my income report here’s a list of my intentions for Clubhouse content in October.
September income report
Small Business Vlog - a day in the life
My business strategy for Quarter 4 of 2024
October Goals for my business and personal finances
Mid-Month business and financial check-in - reviewing and renewing my goals, my financial to-do list etc
How I’m planning for a comfortable retirement
Book Club Live Chat and feedback post
Overview
Income Streams
Vintage Shop (reselling)
Youtube
Adsense
Affiliates
Amazon KDP
Redbubble and Society 6 (Print on Demand)
Substack (membership)
Coursework moderation for exam board
I will be sharing the amounts that were paid into my business account during the calendar month, rather than what was earned. I often earn money in a month that doesn’t pay out for a further month or two. Mixing the two together could get confusing so I will stick to the above for consistency and because that’s how my bookkeeping is done.
Amounts will be given in GBP (as a rule of thumb USD and the EURO is a third higher, Canadian and Australian dollars are ROUGHLY double GBP).
Please use an online currency converter for a more precise figure if needed.
What I’m showing you now is essentially my bookkeeping. In the UK you can use cash-basis accounting where all you have to do is input what comes in and what goes out and all your taxes etc. are calculated for you. There’s a wee bit more to it than that, but honestly not much.
The screenshot in the video (from my ever-evolving spreadsheet) shows the numbers mostly in the way they will be used for my tax return.
I talk about all the different income streams in the video so you get some context for the month ranging from how many listings I have in my Etsy shop to how many hours I might (or might not) have worked on a specific business!
If you are a new subscriber then don’t forget to catch up on all my income reports published in Sparrows End Clubhouse here
See you all again soon!
Mel
