Income for July 2016 – $11,546.97

Another month in the books, and time to review income & expenses to see how well I’m staying on track to hit my goals this year:

Income

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Total Income in July: $11,546.97

Personal Expenses

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Personal Expenses in July: $2,430.42

Notes

This is my first full year freelancing, and it looks like the summer is turning into a slow season. Either that or my freelancing business is slowly imploding, as this was close to my worst month so far this year.

New business opportunities have all but ceased, and I’ve lost some key clients, and some have just completed. So income this month and next month is hurting relative to where I was previously.

Fortunately I was able to keep personal expenses low, so able to actually increase my savings percentage, although it was lower total savings. I’ve cut my expenses to the bone, and the majority of my expenditure went towards child support payments.

Savings Rate

I saved 78.9% of my income this month, which is higher than my goal of 60%.

Summary

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As mentioned, one of my goals is to reach $250,000 in purely online, virtual income. I’m currently at $167,908.86 for the year. Given the slowdown in July & August, I’m not sure if I’ll be able to still hit it.

I’ll update my monthly income report to reflect this most recent income.

Until next time…thanks for stopping by!

4 Comments

  1. DivHut August 2, 2016
    • Greg Gee August 2, 2016
  2. Dan August 6, 2016
    • Greg Gee August 6, 2016

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