Like I’ve said before. It’s not so much the amount of money I earn that motivates me as much as it is about growth. It’s like a game almost – I just want to beat the previous month’s numbers, which doesn’t always happen!
If you’re new here I also want to point out that it was a long road getting to this point. When I started trying to make money online I was also working two day jobs just to get by. Then in October of 2013 I made the decision to try and turn my online business into something more. At that time I was only making around $1,800 a month.
After that my income slowly rose and I made around $2,500 a month for what felt like forever. It was only this year that my income quickly went up to what it is now. (And that took a whole lot of hard work!)
Making money online is an awesome thing but it’s not something that happens quickly.
Income Report for July 2015
As a reminder the money I report in income reports is what I actually received in that month. That means that most income was technically earned in June but paid in July.
In July I received $5,716.17.
It came from:
- Freelancing (Writing, Virtual Assistant Work, Blog Management) $2,962.10
- Blogging $2,754.07
To break it down further blogging income came from the following places:
I also had expenses of $438.99 making net income before taxes $5,277.18. Then I save 25% of that amount to go toward taxes.
Future Income Goals
I always go back and forth on my income goals. On one hand I feel like I should be working harder and trying to do better and on the other hand I’m currently at the amount of money that feels really comfortable.
Have you ever heard of the happiness number? I’ve heard some people say you reach maximum happiness at $50,000 a year and others say that magic number is $250,000 per year. Honestly, $5,000 a month seems to be doing the trick for me.
I’m able to pay all the bills, have a little fun money, and still have plenty leftover to save and go toward my financial goals.
With that said I still worry all the time about how long this will last. On one side of the equation I feel like I got my skin in the game at the right time and that my future income earning potential will be pretty bright. Plus, if everything tanked I know that I am more than capable of getting freelance clients.
On the other side of the equation the whole make money online thing feels a little surreal. I wonder how I’m actually getting paid to blog and run other blogs? Being able to make money in this way is so incredibly unique. And those thoughts force me to want to go all in while the sun is shining and earn and save as much money as possible!
Honestly, I don’t know if making money blogging will be around forever but I am super confident that through all of this I’ll have in demand skills for whatever the future of the internet looks like.
So for right now I am just focusing on putting one foot in front of the other. My short term goal is to reach the $6,000 per month mark. I’ve got a few things I’m going to try out this month so hopefully I’ll get there.
As far as my long term goal I suppose right now it is to keep diversifying in passive ways. (Working on my own projects that repeatedly bring in money for one times worth of work rather than hustling my butt off on other people’s projects and trading time for money.) And to also save as much money as possible!
(See how that inner dialogue affects my goal setting decisions?)
Related Posts on How I Earn Money Online:
- The Ultimate Guide to Finding Freelance Blogging Jobs
- How to Find High Paying Virtual Assistant Jobs
- How to Start a Blog for $12/Year
- How to Make Money with Ad Networks Through Blogging
If you’re a blogger wanting to get more traffic you can also check out my guide:
How was your July? How are your goals going?