Wellllll, we all knew this was coming, it’s a month later than usual but it’s finally here, that big summer dip in income that has had me afeared for many a year.
One of the hardest aspects of self-employment for me has been the irregularity of payments and the inconsistency overall of the amount of money that comes in every month. I have always (well, since I sorted out my finances about 15 years ago) been an advocate of automating as much as possible. The problem with automation is that having set amounts going OUT every month is tricky when you don’t know exactly what’s coming IN every month.
I’ve found ways around it and, more recently, have reintroduced my old automated set-up albeit with much lower numbers involved. So far so good, but it’s going to be trickier over the next 3 months as my income drops - will there be enough in my account to make those precious payments to myself?
Also, my reselling income is such a SHOCKER this month that I almost can’t wait for you to see it…!
May Income Streams
Vintage Shop (reselling)
Youtube
Adsense
Affiliates
Amazon KDP
Redbubble and Society 6 (Print on Demand)
Substack (membership)
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 is a third higher, Canadian and Australian dollars are ROUGHLY double GBP and the Euro is the same as USD).
Please use an online currency converter for a more precise figure if needed.