June 2017 Finance Report

Everything I earned and spent in Tallinn & Moscow

Привет! 1

Here be all my finances for June.

I spent the first 10 days out of the month living in Tallinn in Estonia, then flew to Moscow and stayed there.


June 2017 income graph


Total Income € 4,204
$ 4,804
Total Expenses € 2,449
$ 2,798
Profit/Loss € 1,755
$ 2,006

June 2017 finance graph

Note: there are a bunch of affiliate links on this page. That means if you click through to another website and buy something from there, I will probably get a commission, but you won’t be charged anything extra (actually you’ll often get a discount). These kickbacks help justify all the time I spend putting these monthly reports together.

3M1K 2 € 3,702 $ 4,230
Freelance web development 3 € 396 $ 453
Book sales (via Amazon) 4 € 74 $ 85
Cheap Flight Checklist 5 € 32 $ 37
Total Income € 4204
$ 4,804
Last Month € 3,501 $ 3,934

I predicted $3,300 income for the month so I’m very happy with how it all shook out.

Elegant Themes


June 2017 expenses graph

Food & Drink

Eating out € 167 $ 191
Groceries € 202 $ 231
6 Total
€ 369
$ 422
Last Month € 441 $ 496

Housing & Utilities

12 nights at 1905 Goda apartment, Moscow 7 € 553 $ 632
4 nights at Studencheskaya apartment, Moscow 8 € 177 $ 202
5 nights at Istanbul apartment 9 € 163 $ 186
10 nights at Fili apartment, Moscow 10 € 0 $ 0
Total € 893
$ 1,020
Last Month € 666 $ 748


Health Care

IMG Global Health Insurance 11
€ 0 $ 0
Total € 0
$ 0
Last Month € 1,167 $ 1,311

IMG Insurance

Travel & Transport

Flight: Moscow (ZIA) to Istanbul (IST) 12 € 79 $ 90
E-visa for Turkey 13 € 35 $ 40
Taxis in Moscow € 12 $ 14
Ubers in Moscow 14 € 11 $ 13
Bicycle rental 15 € 11 $ 13
Train: Moscow airport (SVO) to Moscow city center € 8 $ 9
Metro in Moscow 16 € 7 $ 8
Flights: Istanbul (IST) to Chiang Mai (CNX) via Bahrain (BAH) and Bangkok (BKK) 17 € 0 $ 0
Flight: Tallinn (TLL) to Moscow (SVO) 18 € 0 $ 0
Total € 163
$ 186
Last Month € 487 $ 547

The Cheap Flight Checklist

Business Expenses

Outsourcing 19 € 583 $ 666
Dreamhost web hosting 20 € 101 $ 115
3M1K refund 21 € 64 $ 73
Phone credit 22 € 27 $ 31
Quuu Promote 23 € 26 $ 30
PayPal fees 24 € 24 $ 27
BuzzStream 25 € 21 $ 24
Skype credit 26 € 18 $ 20
Currency exchange fees 27 € 10 $ 11
Virtual Post Mail 28 € 9 $ 10
Buffer 29 € 9 $ 10
Gumroad fees 30 € 4 $ 5
Amazon Web Services (storage) € 1 $ 1
Google Drive storage (1TB) 31 € 0 $ 0
Total € 897
$ 1,024
Last Month € 508 $ 571

Flag Theory

Gifts & Donations

Flowers 32 € 19 $ 22
Deep Work 33 € 14 $ 16
Waking Up podcast donation 34 € 4 $ 5
Total € 37
$ 42
Last Month € 39 $ 44

Love and Courage podcast

Books 35

Never Split The Difference 36 € 14 $ 16
The Tiger: A True Story of Vengeance and Survival 37 ***** € 13 $ 15
Ogilvy On Advertising 38 € 12 $ 14
The Copywriter’s Handbook 39 **** € 9 $ 10
Letters From A Self-Made Merchant To His Son 40 **** € 1 $ 1
Civil War Stories 41 € 0 $ 0
Total € 49
$ 56
Last Month € 42 $ 47


Total € 0
$ 0
Last Month € 82 $ 92

Miscellaneous Expenses

Toiletries € 14 $ 16
Netflix subscription 42 € 10 $ 11
Cinema: Guardians Of The Galaxy Vol. 2 **** € 9 $ 10
Amazon movie rental: The Theory Of Everything (imdb) **** € 3 $ 3
Azimo transfer fee 43 € 3 $ 3
Monthly banking fee (Dutch bank) € 2 $ 2
Total € 41
$ 47
Last Month € 79 $ 89

Expense Summary

Business Expenses € 897 $ 1,024
Housing & Utilities € 893 $ 1,020
Food & Drink € 369 $ 422
Travel & Transport € 163 $ 186
Books € 49 $ 56
Miscellaneous Expenses € 41 $ 47
Gifts & Donations € 37 $ 42
Clothing € 0 $ 0
Health Care € 0 $ 0
Total Expenses € 2,449
$ 2,798
Last Month € 3,511 $ 3,945

I predicted $3,025 for June expenses so quite pleased with myself here.

Extreme Ownership
Ego Is The Enemy
The Miracle Morning
Elon Musk
Wait But Why
The Diving Bell and the Butterfly

Biggest Regret?

It was a good month so minimal regrets. The only place I reckon I wasted money was on phone credit. I had a lot of apps set to use cellular data so they just ate through my credit while in Estonia. Wasn’t big money though.

Year To Date

Here’s how I’m doing so far in 2017 in terms of profit and loss:

January € 668 $ 720
February € 724 $ 763
March € 2,704 $ 2,881
April € 1,023 $ 1,114
May € 10 $ 11
June € 1,755 $ 2,006
Total € 120 $ 271

Where That Leaves Me

I had €8,314/$9,342 to my name at the end of May.

Taking into account all my June 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 €9,388/$10,728. 44

Outlook For July

I’ll be spending about two weeks of July in Chiang Mai in Thailand, where the cost of living is quite low, so that should help a bit with expenditure. However, I’ll also be spending time in Istanbul and Japan, which probably won’t be so cheap. I’ll aim to keep everything under $2,500 and see how it goes.

As for income, I have a few affiliate payments due, and if nobody requests a refund for 3M1K I should pull in $2,000 there, plus however much I make from new signups. Doubtful I’ll get many new signups though as pretty much everyone on my list who was going to buy probably did so last month before the price increase.

Freelance income will be close to zero since I haven’t done any freelance work for weeks, busy as I’ve been with personal projects. I’m okay with that for now though. I can pick up freelance gigs pretty easily if needs be in a month or two, but for right now it makes more sense to keep working on 3M1K and some other things.

All that considered, I should pull in $3,000 in July.

As I figured out last month though, by looking through fifteen of my previous finance reports, I usually underestimate income by 10% and expenses by 21%.

So my final predictions for July should be $3,300 for income and $3,025 for expenses.

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.


  1. Pronounced PRIVET, that’s how you say “hello” in Russia, where I’m preparing this report :-)
  2. This is my course that teaches people how to start an online freelance business. I announced a price increase for it near the end of the month, and that drove enough sales to make it a record month for the course in terms of revenue.
  3. You can find links and details for my latest web dev projects here. I did very little freelance work in June as I was busy with 3M1K stuff.
  4. I currently have two books for sale on Amazon:

  5. This is a short guide I released earlier this year. I produced it with a partner so I only receive part of the profits.
  6. Under €400 is what I usually aim for. Moscow is quite expensive for eating out. I probably ate 90% of my meals at home throughout the month.
  7. Found on Booking.com. Use this link to find accommodation there and you’ll get a €15 discount.
  8. Found on Airbnb. Use this link to sign up and you’ll get $37 off your first Airbnb booking.
  9. Found on Airbnb. Use this link to sign up and you’ll get $37 off your first Airbnb booking.
  10. Stayed at my girlfriend’s place for a while. She kinda likes me so she let me stay for free.
  11. I paid for 12 months up front back in May, but listing it here each month so you don’t have to ask :-) Works out to $109/month and covers me everywhere in the world.
  12. Booked this flight for the beginning of July. Could have gotten a similar flight for free via credit card points but wouldn’t have been as convenient so decided to save the points and pay for this one. Used the process in my Cheap Flight Checklist to find the flight.
  13. Easily arranged this via VisaHQ. You can use them to organize lots of different visas for your travels.
  14. Turns out Uber is super-cheap here in Moscow and way faster than taking public transport. Use my link to sign up for Uber and get your first ride free (should work worldwide).
  15. There’s a great stretch of public park along by the river in Moscow, loads of people on roller blades, skateboards and bicycles for about 15 kilometers.
  16. The metro is quite cheap in Moscow. I have a metro card and occasionally load it up with credit.
  17. Booked these free flights for July via points on my Chase Sapphire Reserve card, saving me $544.50. If you want to find cheap flights, use my Cheap Flight Checklist.
  18. Took this flight in June. Also booked for free via points on my Chase Sapphire Reserve card, saving me $160.70. If you want to find cheap flights, use my Cheap Flight Checklist.
  19. I have an assistant helping me with 3M1K and I also hire some other freelancers every now and then to help me out with various projects.
  20. I host all my websites on Dreamhost and like them a lot. Use my link and you’ll get $25 off shared hosting over there and I’ll even help you get set up :-)
  21. I offer a 30-day refund policy on my course. I think only 8 people have asked for (and received) a refund out of ~200 sales so far, and two of them ended up buying the course again later (they didn’t have enough time available first time around).
  22. Spent more than usual here as I had too many apps using cellular data and it drained my credit.
  23. Testing this out with some blog posts on my site to see if it helps increase social media traffic.
  24. Mostly on 3M1K payments.
  25. Started using this to help with outreach and link building for ndoherty.com. Not sure yet if it’s worth it.
  26. A bit more than usual as I had to make some phone calls via Skype last month.
  27. Some freelance clients pay me via TransferWise and I lose a bit in the transfer. Still way better than PayPal though.
  28. This service allows me to receive old-fashioned mail in the USA without having a physical address there. They scan any mail received and email it to me, and can also forward along any important documents to another address I specify.
  29. Myself and my VA’s use this to queue and schedule social media posts.
  30. I use Gumroad to process payments for The Cargo Ship Diaries and the Cheap Flight Checklist.
  31. Have this free for a few weeks because of a technical issue that Google couldn’t seem to resolve.
  32. I gets real romantic sometimes.
  33. Gifted a copy of this to a 3M1K member I thought would really get value out of it.
  34. Via Patreon, I donate $1 per episode of this podcast because I reckon it does a lot of good in the world and we need more like it.
  35. You can see all my book recommendations and what I’m currently reading over on Goodreads.
  36. Just started this one as part of my 3M1K Book Club, so no rating.
  37. Phenomenal book. Probably the best I’ve read so far this year.
  38. Just started this one, so no rating.
  39. Read this for the 3M1K Book Club. Basic in parts but a good overview of copywriting.
  40. If it wasn’t a work of fiction, I might have given it five stars.
  41. Haven’t read this yet. Was free for a while so I grabbed it.
  42. Currently watching: Planet Earth, F Is For Family, Dexter, plus random movies.
  43. Second time I used this service to transfer money to a Russian bank account so I could get fast access to cash here (e.g. for renting an apartment). TransferWise is similar but doesn’t allow me to transfer money to Russia.
  44. Note that these totals are never quite right and don’t really align with my profit/loss numbers each month. That’s because of the different currencies and money constantly moving around between my accounts, plus I have some investments that can make or lose money in any given month. But I couldn’t be arsed figuring it all out perfectly and the above figures are close enough so let’s roll with them.


  1. MikeyC

    Hey Niall, hope your doing well. Thankyou for putting this out there, it really helps visualize this as a possibility for income. Do you try to keep to 10k as a float or does it just work out like that? Any thoughts on pensions or is it just not part of the overall plan for now? All the best.

    • Niall Doherty

      Hey Mikey. Thanks for the comment.

      I don’t try to keep to 10k. I’d like to have a lot more! 😛

      Though I definitely do get more conservative with my spending when the bank balances get below that.

      As for pensions, I don’t pay tax anywhere and so am not entitled to any social security. With that in mind, I’ve started taking saving and investing a lot more seriously in the 12 months or so. I now aim to put at least 20% of my earnings each month into savings and investments. I’d like to increase that as my income increases.

      • MikeyC

        Thanks Niall, yes same here on the 10k! Am tracking everything i spend on the same app so thanks for the heads up on it, shame i seem to spend more than i earn every month – need to work on that! Good luck in Thailand.

  2. Nancy L

    You really do an amazing job of tracking and sharing this data and delivering quality content consistently. So thank you for that!

  3. Magda (your surfer friend from Puerto de la Cruz)

    Hi Niall,
    Thanks for sharing this. I think I will start doing the same. The question is why do you do it? My motivation is too see how much I really do need to live a comfortable life here in Tenerife. I have noticed I am spending too much of my time working (8h hours a day) and earning a lot but not have enough time for surfing. I will be trying to reduce my working hours to the level I need. I have no idea how much I spend each month at the moment.

    • Niall Doherty


      Thanks for the comment.

      Yeah, the main benefit of tracking for me is just keeping me conscious of where my money’s going. I can tell pretty quick from the reports if I’ve gone off the rails somewhere. There’s no way to turn a blind eye.

      But of course I could get that benefit without sharing these reports online. I do that part because it holds me even more accountable, and it makes me think twice about what I’m spending my money on. I always have to ask myself, “Am I willing to admit online that I spent money on this thing I’m about to spend money on?”

  4. Christopher

    Hey Niall,

    I just came across your video about the cost of living in Amsterdam … and as I keep poking around on your web site .. I see more and more cool ass stuff .. I think you are GREAT!!
    I am a 53 year guy that has been SAVING SAVING SAVING my money .. now I am doing my homework on places i would like to live for a year or so … your insight and observations are very helpful .. just a quick question about the taxes thing in Amsterdam .. if I do not earn any income while i am there .. do I have to still pay some min tax? and when is a person considered a “resident” ..



    P.S. I am glad to be one of your new followers …

    • Niall Doherty

      Hey Christopher, thanks for the kind words 🙂

      I don’t believe you would need to pay any tax if you’re not earning any income, since they can only tax you on income earned.

      And I believe you have to live there for 6 months before being considered a resident, though that’s assuming you register as a resident as soon as you arrive.


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