Sawadee krab to all you legendary email subscribers. Welcome to my May finance report, as prepared while trying out this whole standing desk dealio.
As usual, I’ll share with you all the details of my finances below, along with a few notes that I think you’ll find interesting.
But before we get to that, let me throw out some of the many kindnesses that came my way last month. All told, they ended up saving me a good chunk of money or just making my life better in some shape or form.
Paid in Kindness
- Franck and Oye at Bangkok Bikes Rental, for being cool, honest people and thinking win-win.
- Dean for being an absolute fountain of great ideas for my YouTube channel. Expect to see some changes there soon.
- That random girl I ran into while apartment hunting in On Nut. She let me into the building and showed me up to the reception area.
- Alice, for buying me a drink, and for understanding.
- Hajer, for haggling for a pair of sunglasses on my behalf. Saved me a few bucks 🙂
- All the gang who showed up at El Diablo’s for some good conversation and savage Mexican food. Oh, and thanks to the cool people at another table there who shared some birthday cake with us.
- Richard and Ian for interviewing me and asking great questions. You can listen to my interview with Richard here. All about entrepreneurship.
- Mitch for some great business brainstorming throughout the month.
- Yo at my building reception for getting the Internet kick-started again when it went down.
- Jacee for the book recommendation. Actually, come to think of it, people are recommending cool books to me all the time. Thanks!
- Dwight Turner for inviting me to the home of his organization in Bangkok. We spent about an hour playing games with all the kids. Simply amazing how that man is changing lives.
- Matt, Ian and Turner for chats and laughs at Cheap Charlie’s. Oh, and the couple of Polish dudes who kept me company while I was waiting for that trio to arrive.
- All the guys at Parkour Generations Asia, especially Johann for all the great coaching and for letting me interview him for this video. Parkour has quickly become one of my favorite activities.
- Slow post office biker dude ahead of me in traffic who pulled over and let me pass by. Rare that someone is courteous on the streets of Bangkok.
- Random couple at 7-Eleven who helped me decipher the instructions to put credit on my phone.
- Spyros and Kai for the cool Masterminding as always.
- Note, my brilliant personal trainer at The Lab here in Bangkok. Had a great ten sessions with him, learned a lot, made good progress.
- The staff at Oh La La cafe, near my apartment. They’re cool with my weird orders and have even kept the place open a little late more than once to accommodate me.
- Random lady at the supermarket who helped me figure out the whole avocado-weighing process.
- All the hostel people whose brains I’ve been picking these past few weeks, particularly Harish, Avery, Mohit, and Pan. And everyone who has been helping me get in touch with such people, such as Karen and Turner.
- Doorman at Emporium, who shared a laugh with me over a low ceiling.
- Two dudes working at the supermarket in Emporium who went out of their way to help me find pomegranate juice.
- That lady who emailed me to compliment me on my nose :–)
- Jayhawk and Skyfall for sitting down with me and sharing their vast business knowledge.
- Random dude on a scooter who stopped traffic at a crosswalk so myself and a few other people could pass.
- Tom for a good chat over lunch.
- Johnny for going out of his way to show me around his apartment building and put me in touch with his management contact.
- Syed and Turner for sending me some quality video suggestions.
- Mam and Dad. I realized that I never really thank them in this space, even though we stay in regular contact and they’re always there when I need them.
- Kitty, for lots of things, but I’ll just sum it all up as her being a legend of a lady.
- And thanks to everyone who read, commented, and shared my writing during the month of May. You People make me feel all warm and fuzzy inside 🙂
(Note: The risk of listing out such kindnesses is that I may forget someone who was very kind to me during the previous month. My apologies if you did me a good turn and I haven’t mentioned you above. It’s not that I don’t appreciate your generosity; more likely that I just had a brain fart.)
Okay, let’s move on to the more numerical form of currency. Keep in mind that I spent all of my time last month in Bangkok. Diving in…
Food and Drink
|Groceries||€ 235||$ 305|
|Pubs, Coffee Shops, Restaurants, Take-aways||€ 463||$ 602|
|Total||€ 698||$ 907|
Almost exactly the same as last month. I usually eat two meals at home each day during the week, grab lunch or dinner at a restaurant, and then go a bit nuts with restaurants at the weekend.
Housing and Utilities
|Deposit on On Nut apartment||€ 646||$ 840|
|1 month rent for On Nut apartment||€ 414||$ 538|
|Last electricity bill at Wittayu apartment||€ 187||$ 243|
|Last water bill at Wittayu apartment||€ 10||$ 13|
|Cleaner||€ 3||$ 4|
|Total||€ 1,260||$ 1,637|
Way up from the €283/$373 I spent last month. I should of course get all that deposit money back at the end of July, when I plan to move out of my apartment in Bangkok.
|2 months of scooter rental in Bangkok||€ 129||$ 168|
|Scooter deposit||€ 52||$ 68|
|1-month Thai visa extension||€ 50||$ 65|
|Scooter fuel||€ 23||$ 30|
|Taxis in Bangkok||€ 10||$ 13|
|Bangkok BTS (skytrain)||€ 5||$ 6|
|Total||€ 269||$ 350|
Not too different from last months’ numbers of €211/$278. The scooter rental and fuel definitely costs me a bit more than using public transport all the time, but for the convenience it’s a small price to pay.
|S6 Personal Assistant||€ 1,207||$ 1,569|
|SWB writers||€ 423||$ 550|
|PayPal fees||€ 25||$ 32|
|WordPress premium theme||€ 23||$ 30|
|AWeber email marketing||€ 23||$ 30|
|Post Affiliate Pro (for $50 Blogs, monthly subscription)||€ 15||$ 19|
|Ecwid shopping cart (for $50 Blogs, monthly subscription)||€ 14||$ 18|
|Amazon Web Services (ndoherty.com CDN)||€ 4||$ 5|
|Socialoomph.com (monthly subscription)||€ 3||$ 4|
|Total||€ 1,737||$ 2,257|
Up from €1,226/$1,617 in April. I’ll tell you a bit more about the S6 and SWB projects further down. Other notes…
I link to everything I use so you can go ahead and check out the products and services for yourself. However, I only become an affiliate for products and services that I actually like and am happy to recommend. If you click through and buy something via my affiliate links, it doesn’t cost you anything extra, but I get a percentage of the sale price. Please don’t buy anything unless you have a clear need for it.
Gifts and Donations
|Donation to In Search of Sanuk||€ 154||$ 200|
|Donation to Umbrella Foundation||€ 150||$ 195|
|Donation to Heifer International (Mastermind penalty)||€ 77||$ 100|
|Donation to PETA (Mastermind penalty)||€ 77||$ 100|
|Tip for restroom attendant||€ 1||$ 1|
|Total||€ 459||$ 596|
Down from last months’ donation total of €695/$917, but I still reached my goal of donating 15% of my income.
|Monthly gym membership (True Fitness)||€ 57||$ 73|
|Replacement for lost scooter key||€ 34||$ 44|
|Convection cooker||€ 26||$ 34|
|Phone credit||€ 26||$ 34|
|Toiletries||€ 24||$ 31|
|Cinema: Iron Man 3 (premium seating)||€ 21||$ 27|
|Bed sheets||€ 16||$ 21|
|Yoga mat||€ 12||$ 16|
|Ferriss wheel ride||€ 12||$ 16|
|Haircut||€ 11||$ 14|
|Sunglasses||€ 9||$ 12|
|Book: The Education of Millionaires||€ 8||$ 11|
|Book: Bad Astronomy||€ 8||$ 11|
|Book: The Way to Love||€ 7||$ 9|
|Big canvas bag (for moving stuff to new apartment)||€ 7||$ 9|
|Cop bribe||€ 6||$ 8|
|Traffic fine||€ 6||$ 8|
|Book: The God Delusion||€ 6||$ 7|
|Subscription to Raam Dev’s Journal||€ 5||$ 7|
|Book: Rich Dad, Poor Dad||€ 5||$ 6|
|Laundry||€ 5||$ 6|
|Cinema: Great Gatsby||€ 3||$ 4|
|Book: The Upside of Irrationality||€ 2||$ 3|
|Postcard and postage||€ 2||$ 3|
|Kitchen cleaning supplies||€ 2||$ 3|
|Total||€ 320||$ 416|
Way down from the €1,477/$1,948 I spent on miscellaneous last month. Only a few of the books I bought are affiliate linked as I haven’t read them all yet.
|Food and Drink||€ 698||$ 907|
|Housing and Utilities||€ 1,260||$ 1,637|
|Travel||€ 269||$ 350|
|Business Expenses||€ 1,737||$ 2,257|
|Gifts and Donations||€ 459||$ 596|
|Miscellaneous expenses||€ 320||$ 416|
|Total Expenses||€ 4,743||$ 6,164|
Balls! I somehow spent even more this month than last, when my expenses added up to €4,577/$6,038. I wouldn’t mind but as you’re about to see, I wasn’t able to keep up the pace with my earnings.
Away from the minuses and on to the pluses…
|Sigma 6 project||€ 1,854||$ 2,410|
|SWB project||€ 753||$ 978|
|Book editing (freelance for a friend)||€ 149||$ 194|
|$50 Blogs||€ 96||$ 125|
|Reader donations (muchas gracias!)||€ 65||$ 84|
|A Course in Courage||€ 33||$ 43|
|Amazon book royalties||€ 22||$ 29|
|Amazon affiliate payment||€ 8||$ 11|
|Total Income||€ 2,981||$ 3,874|
A big drop from last month’s earnings of €4,507/$5,946. Notes…
Sigma 6 project
I can’t reveal too much about this money-making endeavor. Reason being that it’s a partnership that was offered to me on condition that I don’t go blabbing about the whole thing. All I can say is that it involves selling advertising on travel blogs, and my assistant is handling most of the workload for me nowadays. Business wasn’t great this past month however, and if I subtract what I paid my assistant this income stream only produced €647/$841 for the month of May. Things looked to be picking up a bit at the end of the month, so hopefully I’ll have better numbers to report for June.
This is my new SEO Writing Business (SWB for short), and I’m happy to spill all the beans on this one. I won’t say much yet though since it’s still in the early stages and I don’t have any solid lessons to share. Right from the start with this one I’ve been experimenting heavily with outsourcing. I hired an assistant to do much of the work and she hires writers on my behalf. We then edit and sell the articles to clients at a marked up price. May was our first real month in business and we pulled in almost $1k in revenue. However, when I subtract the cost of writers and my assistant’s commission, there’s not a whole lot left for me. At least not yet. By month three I hope to be pulling in about $1k in profit. Should I get to that point I’ll gladly post a detailed report showing how the business operates.
Where that leaves me
I had €8,884/$11,720 to my name at the end of April. After applying the most recent exchange rates (I have accounts in both Dollars and Euros), that had increased slightly to €8,995/$11,690. Taking into account all my May income and expenditure, my total bank and cash balances now work out to €7,307/$9,496.
Here’s how I’m doing so far this year:
- €1,439/$1,970 in January
- €1,275/$1,655 in February
- €262/$337 in March
- €70/$92 in April
- €1,762/$2,290 in May
- €2,258/$2,944 overall
Outlook for June
I’d love to get back under the $5k mark for expenses. I’ve been over that for three straight months now. Business expenses will likely be high again, but aside from that I don’t foresee much big spending. I will have to do a visa run, pay rent and buy more travel insurance, but that’s about it methinks. As for income, hopefully the S6 and SWB projects will pick up and get me back to at least the $5k range.
Last thing I’ll say is that I don’t really mind that I “lost” so much money last month. I’m experimenting with a lot of business projects these days, and some losses are inevitable. I see it as the price of a real-world business education. If the worst were to happen and I fell flat broke, I’m confident I’d be able to handle it and get back on my feet pretty quick with freelance work. All part of the adventure 😉
Thoughts? Questions? Speak up in the comments below.