Time for Zero’s monthly Freelance Income update for August 2019!
Last month, I announced that because we got married, my husband and I are combining our assets. Our Net Worth ended at $527,202.60 in July.
However, I just feel like it’s not the same, when I’m not the one controlling how much money is coming in or going out day to day. I don’t want us to be the couple that nitpicks each other’s every dollar spent, and while I am going to still be keeping monthly calculations and looking for new ways to save more, I decided it’s not as useful to publish our net worth monthly anymore.
I am definitely going to let you know when we hit milestones, like $750,000 or $1 million (you will DEFINITELY hear about our first million!). But I feel like because we’ve amassed half a million at 29 and 30 years old, the month to month change is so small that it’s not as exciting as when I was tracking month to month from $80,000 and sharing with you.
SO! My monthly updates will be mostly focused on my Freelance Income! This is something I can control for myself, and I have been enjoying seeing the numbers go up, especially since the beginning of the year.
I know a lot of you are looking to start Side Hustles, or even maybe quit your day job like I did few months back, so I think these numbers might be much more interesting for you anyways!
YTD Freelance Income By Month
Freelance Income: $2,033.95
This is a great month to shift my focus from Net Worth AND Freelance Income to just Freelance Income, because I’ve acquired a few new income sources!
This month, the Freelance Income went past $2,000 for the 2nd time this year! Woo hoo!
My eBook sales was less than half of what it was in July, which is a little disappointing. But I think it just means I should really be doing a lot of mind searching to come up with the NEXT book to publish!
Regardless, I have crossed $1,400 in profit ($1,500 in revenue – Paypal fees) from my eBook sales for 2019, which has basically been 100% passive!
In beginning of August, I went to LA to record my 3rd and 4th courses for my video courses. Those should be up in a month or so. Once they’re up, I will get the second half of my royalty advance for both of them, which will mean I’ll have instant $2,000 more to add to my 2019 Freelance Income.
While the 1st course has consistently netting $750~$800 ish since its release in March, the 1st month of the 2nd course was pretty lackluster, at $100. So I might have to rethink my assumption that I will make $750ish per course. I know the 3rd course would be another one that’s jam-packed with potential, but of course, it’s all up to how they market it to the audience.
Being on the conservative side, I’m thinking maybe I can expect something like $1,500 a month from these 4 courses, instead of $2,000~3,000 a month of passive income? It’s a little disappointing, but definitely nothing to sniff at! And maybe I’ll find a way to market the courses myself to drive traffic.
Which brings me to one of my new passive income sources: Affiliate program for my own courses. The platform I’ve partnered with to create these courses has begun an affiliate program where we get a certain amount of money for every new user who purchases a course from us, including our own.
Which gives me a bit of a feeling like it’s turning a bit MLM-y, because I definitely make a lot more per student if I peddled it with an affiliate link than if they organically watched them… LOL. I KID. BUT THE SIMILARITIES ARE THERE!
I can’t cash out until I hit $50, so there’s no “actual” income into my bank account this month, but I can see how much I made.
Another new income stream is my Podcast! I get like, one cent per listen, and I can also get monthly supporters. I got my first supporter! So I’m pretty excited about that too! There’s a $0.25 fee to get my money out, so this one is also staying in the eWallet until I feel like I’ve accumulated enough funds to warrant taking it out. So this one is also “pending.”
For now, I’m not expecting much more than something like $5/month, but it’s pretty substantial for something I started with intention of getting nothing out of!
Also, I’m planning another Podcast for release in Fall, and I might have scored myself an ACTUAL corporate sponsor for that, so I’m excited! 😊
While the payout (which is what I track) is a month or 2 delayed compared to the actual income month, I just hit $1,000 income from Amazon Affiliates this month for 2019! Woo hoo! What a milestone!
For the first time this year, I had Writing gigs! It’s pretty exciting because about this time last year, I had my first paid writing gig as a contributing writer at the INSIDER publication. Their pay was $75/article, which I thought was amazing at the time.
Now, I write for $200~400 an article. I’m just mind blown at how much of a difference a year has made for my “worth”! I’m sure it’ll keep going up as I become more and more comfortable with asking for more with experience.
Becoming a writer has been a dream of mine since I was in middle school, so I hope to begin cultivating this part of “active income” making. My goal is to shift from technical writing to fiction writing at some point, but for now, I’m going to go with the technical writing, because that’s where the $$ is at!
YTD Total: $11,594.99
We’ve blown the first $10,000 of 2019 out of the waters! I’m hoping for at least $20,000, if not $25,000 by the end of the year. We shall see how that goes!
It’s kind of weird because the stable passive income of at least $1,200/month didn’t start happening until June. Before then, I was making around $400 a month in freelance or passive income. And then suddenly, boom! $1,200/month in passive income.
By the end of the year, I am hoping for $25,000 in annual freelance income, and passive income of $2,000/month. I don’t know how I’m going to make that happen, but I’m looking forward to trying to figure it out! (And hey, even if I don’t make it, I’ll get pretty darn close, which is still pretty awesome for me!)
This month’s win was definitely finding that I am capable of getting technical writing clients. This will go a long way in keeping me employed and fed!