Achieve Financial Freedom & The Lifestyle You Desire

April 2018 Income & Profit Report

Income & Profit header

April and May were particularly busy months for me. It’s a little later than planned, but here is my income and profit report for April.


This is a recurring monthly post to track my goal of earning at least £4,000 profit from my Side Hustle ventures this year.

My goal breaks down across the months and weeks of the year as follows:

£4,000 per year or
£333.33 per month or
£76.92 per week

This means that my target profit for each month would ideally be in the region of £333.33.

So far this year I haven’t had a month where I’ve hit this target profit, so if I have a chance of achieving my goal I need to get some serious money coming in!

Let’s see how I got on…


INCOME REPORT

Here’s how my income is panning out:

Month Income Running Total
January £377.45 £377.45
February £156.62 £534.07
March £120.29 £654.36
April £305.67 £960.03
May
June
July
August
September
October
November
December

It’s nice to be back up in the £300+ region after the previous two months generating less than £200 income each. At £305.67 I’m clearly not going to hit my profit target of £333 for the month though.

During April I was still working three days a week in my IT contract. Time that I had available to work on my side hustles was spent solely on publishing, which means there was no top-up from eBay, matched betting or surveys to help booster the kitty.

My running total income for the year is now sitting at £960.03, I’ve not quite managed to hit £1K, but hopefully next month!

Here’s a break-down of where the income came from in April:

April 2018 Income pie chart

EXPENSE REPORT

Here’s how my Side Hustle expenses panned out for April:

Month Expenses Running Total Expenses
January £145.20 £145.20
February £18.62 £163.82
March £17.84 £181.66
April £93.05 £274.71
May
June
July
August
September
October
November
December

My expenses were higher this month compared to the last couple of months because I started promoting my kindle books again. This significantly helps to boost book sales, hopefully increasing profits. At £93.05 it’s the second highest expenses month of the year so far. This figure is made up of 2 promotions and some marketing costs for advertising on Amazon.

Expenses to April 2018 chart

PROFIT PROGRESS

Here’s how my profit is looking now that April is taken into account.

Month Target Profit Actual Profit Difference Running Total Profit Running Total
Over / Under Target
January £333.33 £232.25 -£101.08 £232.25 -£101.08
February £333.33 £138.00 -£195.33 £370.25 -£296.41
March £333.33 £102.45 -£230.88 £472.70 -£527.29
April £333.33 £212.62 -£120.71 £685.32 -£648.00
May £333.33
June £333.33
July £333.33
August £333.33
September £333.33
October £333.33
November £333.33
December £333.33

A profit of £212.62 for April is an improvement on March’s profit, but obviously still not hitting my target of £333.33. It would just be nice to hit the £300 point at least! I’m not knocking it though, £200+ is a nice little extra considering this was semi-passive income. All I had to do to make this money in April was to run a couple of marketing promotions which took me an hour or two to set-up. Happy Days.



WHAT ACTIONS WORKED/DIDN’T WORK FROM LAST MONTH’S PLAN

Here’s a review of how I got on with the plans I made for April:

Focus my time and attention on core money making activities:

  • Online publishing
  • Growing Inspiring Life Design site and associated social media
  • I stopped spending time on matched betting and eBay. I did spend small amounts of time on Prolific to complete some surveys, but only occasionally - the money for these surveys will actually be realised in May because I didn’t reach the threshold for paying out during April
  • I continued to grow my social media accounts for Inspiring Life Design and have been seeing some success

Get stuck into the creation process for at least one new book to publish

  • During April I spent time doing research into new niches that I might want to publish book titles under

Run and track success of promotions booked for April

  • Big tick for this one, I ran 2 promotions during April

Plan and book promotions for May

  • I did this too, with 2 promos booked for May

Do at least 4 more lessons of publishing course

  • I didn’t manage to achieve this. I did do a little more of the course, but not 4 more lessons

Publish 4 posts during April

  • I published 3 posts during April

Grow Instagram following from 782 to 900+ followers

  • Instagram: increased from 782 to 897 followers. So close on this one!
  • Twitter: increased from 317 to 414 followers
  • I have not been seeing success on Facebook and YouTube yet. I think this is understandable for YouTube because I am not posting consistently. However it would be nice to see a bit more Facebook engagement. If you use either of these platforms and feel like helping a girl out, please consider subscribing!
    Facebook Page: Stayed at 13 subscribers
    YouTube: Stayed at 2 subscribers

Get at least 50% of the way through Turn Your Dreams Into Money course (I’m currently 31% through)

  • Sadly I failed completely at this and didn’t make any further progress. It’s still on my list to do, just when I have a bit more time on my hands


Things I will try this month to help improve future months’ income and profit

I’m not going to list any things here in this post because it’s already June as I write this, so there’s no point settng goals for May!


So that’s my income and profit for April. I’d love to hear from you in the comments below on how you’re getting on with any side income ventures.

Turn Your Dreams Into Money link to course

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