April 2018 Finance Report

Below you’ll find all my finance details for April 2018.

I was in Gran Canaria until April 19th, then Moscow for the rest of the month.

Summary

Total Income € 7,456 $ 8,999
Total Expenses € 3,862 $ 4,662
Profit/Loss € 3,594 $ 4,337

Income

Consulting / Project Management 1 € 6,733 $ 8,126
3M1K 2 € 694 $ 838
Patreon 3 € 17 $ 20
Book sales (via Amazon) 4 € 12 $ 15
Total Income € 7,456
$ 8,999
Last Month € 4,851 $ 5,915

Expenses

Food & Drink

Groceries € 293 $ 354
Eating out € 181 $ 218
Total € 474
$ 572
Last Month € 536 $ 654

Housing & Utilities

17 nights at Moscow apartment 5 € 564 $ 681
Deposit for Amsterdam apartment 6 € 500 $ 603
Deposit for Montenegro apartment 7 € 150 $ 181
Total € 1,214 $ 1,465
Last Month € 1,513 $ 1,845

Health Care

Medical tests
€ 58 $ 70
Doctor visit in Moscow € 17 $ 21
IMG Global Health Insurance 8 € 0 $ 0
Total € 75 $ 91
Last Month € 14 $ 17

Travel & Transport

Train: Edinburgh to London (x2) 9 € 95 $ 115
Rental car: 3 days in Gran Canaria 10 € 57 $ 69
Fuel for rental car in Gran Canaria € 46 $ 56
Taxi to airport in Moscow € 33 $ 40
Train: London to York (x2) 11 € 30 $ 36
Taxi to airport in Gran Canaria € 25 $ 30
Ubers in Moscow 12 € 8 $ 9
Parking in Gran Canaria € 4 $ 4
Moscow metro € 3 $ 4
Total € 300 $ 362
Last Month € 714 $ 870

Business Expenses

Accountant 13 € 709 $ 855
Outsourcing 14 € 289 $ 349
ActiveCampaign mailing list software upgrade 15 € 152 $ 184
Dreamhost web hosting 16 € 127 $ 153
Audioblocks subscription17 € 82 $ 99
Phone credit € 23 $ 28
TransferWise fees 18 € 22 $ 27
SmarterQueue 19 € 19 $ 23
PayPal fees 20 € 13 $ 16
Dreamhost domain registration € 12 $ 14
Postage € 8 $ 10
Virtual Post Mail 21 € 8 $ 10
Patreon fees 22 € 3 $ 3
Amazon Web Services (storage) 23 € 1 $ 1
Elegant Themes 24 € 0 $ 0
Teamwork project management software 25 € 0 $ 0
MemberMouse 26 € 0 $ 0
Google Drive storage (1TB) 27 € 0 $ 0
Total € 1,467
$ 1,771
Last Month € 802 $ 978

Gifts & Donations

Flowers € 30 $ 36
Phone charger € 13 $ 16
Monthly Love & Courage podcast donation 28 € 5 $ 6
Waking Up podcast donation 29 € 3 $ 4
Total € 51 $ 62
Last Month € 46 $ 56

Books 30

Start Something That Matters *** € 12 $ 15
A History Of The World In 100 Objects 31 ***** € 7 $ 9
Total € 20 $ 24
Last Month € 17 $ 21

Clothing

Levi jeans € 110 $ 133
Sunglasses € 23 $ 28
Black t-shirt € 5 $ 6
Sports socks (3 pairs) € 5 $ 6
Total € 143 $ 173
Last Month € 93 $ 113

Miscellaneous Expenses

Banking fees (Irish bank) € 45 $ 54
Toiletries € 26 $ 31
Sunscreen € 12 $ 14
Netflix subscription € 11 $ 13
Monthly banking fees (Hong Kong bank) 32 € 7 $ 9
Mosquito repellent € 6 $ 7
Beach lounger rental € 5 $ 6
Amazon Movie Rental: Belle and Sebastian *** € 3 $ 4
Monthly banking fee (Dutch bank) € 1 $ 2
Kitchen cleaning supplies € 1 $ 1
Total € 118 $ 142
Last Month € 208 $ 254

Expense Summary

Business Expenses € 1,467 $ 1,771
Housing & Utilities € 1,214 $ 1,465
Food & Drink € 474 $ 572
Travel & Transport € 300 $ 362
Clothing € 143 $ 173
Miscellaneous Expenses € 118 $ 142
Health Care € 75 $ 91
Gifts & Donations € 51 $ 62
Books € 20 $ 24
Total Expenses € 3,862 $ 4,662
Last Month € 3,943 $ 4,808

I was aiming to keep everything down around $4000 for the month. Didn’t quite make it.

Biggest Regret?

That Audioblocks subscription wasn’t a good idea. I already have a subscription to Epidemic Sound for the same purpose.

Also, I had to pay that accountant in Ireland to shut down a business that I never should have opened in the first place. My business setup in the US is way better and cheaper, and I wish I’d gone that route from the start.

But hey, I did manage to earn $4000 more than I spent last month, so can’t dwell on the regrets too much.

2018 So Far

Here’s how I’m doing this year in terms of profit and loss:

January € 2,466 $ 3,070
February € 4,384 $ 5,346
March € 908 $ 1,107
April € 3,594 $ 4,337
Total € 2,584 $ 3,168

Where That Leaves Me

I had €11,511 / $14,185 to my name at the end of March.

Taking into account all my March income and expenditure, and the most recent exchange rates – I have accounts in EUR, HKD and USD – my total bank and cash balances now work out to €15,533 / $18,747. 33

Outlook For May

I should earn about the same amount from consulting work again, so around the $8,000 mark there. If I get my course relaunched by the end of the month I could also see some income from that.

As for expenses, I have a $5,000 payment due to my coach, and will probably need to pay for some upcoming travel adventures as well. I’ll aim to keep everything below $8000 so I can finish another month in the green.

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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6 Comments

  1. Out of curiosity, why are you employing an accountant at this stage? Seems like it is taking a disproportionate amount on income on the expense side.

    1. Hired him to manage the shut-down of my business in Ireland. It’s a bit of a process. That expense includes putting an ad in the newspaper and all other fees associated with the shut-down. All done now so I won’t be paying an accountant in Ireland anymore.

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