September 2016 Recap

I like to think of myself as my own little conglomerate (with little being the operative word).

Hence I like to take a look back each month at my income & balance sheet, as below:

September 2016 Income Statement

Period Ending 9/31/16
Total Revenue $11,921.64
Cost of Revenue -$545.00
Gross Profit $11,376,64
Operating Expenses
Food -$880
Shelter -$0.00
Child Support -$1,985
Student Loan -$0
Car -$0
Medical/ Insurance -$869
Taxes -$6,800.00
Operating Income or Loss -$10,534
Net Income $842.64

Total Revenue

  • Freelance Income: $9,845.  Still lower than usual, but an improvement over last month.
  • Interest: $111.17 from my  1% high interest savings account at Capital One
  • Fiverr Side Hustle: $1,750 –  This was a pretty solid month for Fiverr.
  • Dividends – $215.47 in dividend income.
  • Gross Profit: $11,921.64

Cost of Revenue

  • Payroll: $42 I have my personal consulting business structured as an LLC taxed as an S-Corp. This provides a number of tax benefits, but also there are some things you need to take care of – like running payroll for yourself. I have just started using Gusto and I love it since they make the process of running payroll and paying contractors easy. Affiliate note: you will receive a $100 bonus by signing up through this link: Gusto $100 offer
  • Proposal Software: I’m currently paying a steep $89/ mo to a cloud-based proposal software company. It’s pretty high, but in my mind worth it, because it makes snazzy as heck proposals – one of which I won for $10k so in my mind it’s an investment that more than pays for itself, even though it’s a cloud solution I use rather infrequently.
  • Rejected check charge: $9.
  • Subcontractors: I spent $405 on subcontractors during this time. These guys are great because I can just mark up the difference between what I pay them and what I get paid, which helps me to leverage my time. The key, however, is finding good quality talent at a decent price, which is a tough thing to do.

Operating Expenses

Food: $880 – Spent way too much on food. Been eating organics and stuff which is good, but going to resolve to keep this down next month.

Shelter: $0 Score. Yes, I actually don’t pay rent. I moved home for a while to try to get my finances back on track. I’m looking for opportunities to move out next year, but for now am enjoying the nice savings.

Car: $0  Yes, I earn 6 figures and don’t own a car. I do what I can to keep my expenses under control.

Child Support: $1985  This is my biggest expense by far. Marriage and divorce is the worst financial move you can make. Maybe I’ll write about this more sometime.

Student Loan; $0 I just kept this line item on since I paid the entire thing off last month, it feels good to say $0.

Medical/ Insurance: $869. Late on a premium which made this high this month.

Taxes: $6800. Yeah, so I am trying to catch up on paying taxes since I didn’t pay much for the first few months. So for the next few months, this is going to be really high.

Net Income


Taxes and child support are killing me here. Most of all the money I make goes to others. Managed to eek out a small bit of savings here.

August 2016 Balance Sheet

A balance sheet is a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.

Period Ending 9/31/16
Current Assets
Cash and Cash Equivalents $114.586.35 -0.3%
Long Term Investments $107,607 +2.8%
Intangible Assets $1.00
Total Current Assets $222,193.35 +0.8%
Current Liabilites
Student Loan $0.00
Debt $0.00
Total Current Liabilities $0.00
Net Tangible Assets $222,193.35

Cash and Cash Equivalents: $114,586.35 I currently hold half in cash

Long Term Investments: $107,607  This is the value of my stock portfolio. I don’t really own any other investments at this time. I actually sold out of my TEVA position at $50, which has subsequently fallen to $45, so may buy in if the price continues to drop.

Intangible Assets: $1 I added a dollar here for my great smile. I’m sure that has to be worth something.

Current Liabilities: $0. This is the one thing my balance sheet has in common with Visa or Facebook. No debt. This is the first month I can actually say this for many years which is cool.

Final Thoughts


Overall a decent month. Income up slightly from my low point last month; however high expenses – especially with taxes – kept my savings rate far too low. I’m sitting on a bit of cash still, and looking to deploy as soon as I can come up with more good ideas. Will look to lower my food expenses next month.

Thanks for stopping by!


  1. ADI October 5, 2016
    • Greg Gee October 5, 2016
  2. Andre - Gogoassets October 6, 2016
    • Greg Gee October 6, 2016
  3. MrSLM October 7, 2016
    • Greg Gee October 7, 2016
  4. DivHut October 7, 2016
    • Greg Gee October 7, 2016

Leave a Reply

CommentLuv badge