January 2019 Income & Profit Report

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January 2019 Income & Profit Report header

It’s time for my first Income and Profit report of the new year. Here’s how my side hustles fared in January.


But first! Let me tell you what I got up to in January!

As for many people, January is traditionally a quiet month for me. I like to get my head down with goal setting and getting on with my work.

I did manage to fit in a few social events though. We invited my parents over for a nice Sunday roast followed by a few games. I went to one of my friend’s houses for our regular ladies film night evenings (we rotate hosting between 5 of us ladies). My Aunty turned 80 so we went to visit her with other members of the family, and my niece performed at the Birmingham NEC in a huge choir collaboration from many different schools called Young Voices.

January Income and Profit Report, Young Voices concert at the Birmingham NEC
My niece performed as part of the 7,000 voice choir in Young Voices


My cousin’s wife turned 50 and we joined her to celebrate with a lovely dinner at our local, and near the end of January we returned to our local to enjoy Burns Night.


How To Smash Affiliate Marketing As A UK Blogger image


This is a recurring monthly post as I pursue my 2019 goal of making £7,000 in one month from my side hustles, before the end of the year.

Last year I made a total profit of £3,166.15 from my side hustles, with my best month’s profit being £597.95.

So as you can see there’s a long way to go to achieve £7,000 in one month. How did I get on in January?


INCOME REPORT

Here’s my income position at the end of January:

Month Last Year's Income 2019 Income 2019 Running Total
January £377.45 £428.54 £428.54
February £156.62
March £120.29
April £305.67
May £217.61
June £281.89
July £311.20
August £496.84
September £762.16
October £732.34
November £529.77
December £297.16

So I started the year with income of £428.54 from my side hustles, beating the income I made last year by £51.09.

Here’s a break-down of where my income came from in January:

January 2019 Income & Profit Report income pie chart

The income split was pretty typical compared to previous months in 2018. The majority of my income comes from kindle book sales, followed by blogging income and paperback sales, which both provided similar income levels. My audiobook income for January was £24.74 - my 4th biggest earner - this is an income stream which I plan to increase dramatically throughout 2019. Bringing up the rear is income from completing surveys, and cashback from sites such as TopCashback (affiliate link) and Quidco (affiliate link) where I make money back on my regular spending.

EXPENSE REPORT

Here’s how my Side Hustle expenses looked in January:

Month Last Year's Expenses 2019 Expenses 2019 Running Total Expenses
January £145.20 £178.09 £178.09
February £18.62
March £17.84
April £93.05
May £54.86
June £28.83
July £121.26
August £156.39
September £296.98
October £134.39
November £162.58
December £192.85

I ran several book promotions during January totalling £178.09 in expenses.

Incidentally, the expenses in this table do not include the costs of creating new books. The expenses in this table are purely for marketing/advertising and costs for running my side hustles.

I use the profits from my side hustle businesses to reinvest when I’m paying for new products to be created.

January 2019 Income & Profit Report chart showing expenses for Jan 2018-Jan 2019

PROFIT PROGRESS

So here is my first profit reveal for 2019!

Month 2018 Profit 2019 Profit 2019 Running Total Profit No. of Kindle books No. of Paperback books No. of Audiobooks
January £232.25 £250.45 £250.45 4 5 1
February £138.00
March £102.45
April £212.62
May £162.75
June £253.06
July £189.94
August £340.45
September £465.18
October £597.95
November £367.19
December £104.31

My January profit was £250.45. It’s not the highest profit month I’ve had, but it’s not the lowest either. It’s a start!

Since book publishing is my main side hustle, I thought it might be interesting to keep a tally of how many books I had available for sale each month. In theory the number of books I have available for sale should correspond with how much profit I make each month. In other words, the more books I have for sale the more profit I make. Noting down the number of books I’ve created should be motivation for me to keep pressing on with getting more books made. I do have a tendency to procrastinate from time to time, so this will help me to maintain momentum.

Here’s a pretty bar chart that I’ll use to track how my profit is faring month on month compared to previous years:

January 2019 Income & Profit Report, year on year profit bar chart




Last year in my Income and Profit posts I would list the things which did/didn’t work for me from the past month’s efforts, as well as setting myself actions for the next month. However, this year I am updating my progress toward my annual goals in a separate monthly post. If you’d like to read about how I got on with my goals in January take a look here.


That’s it for my first income and profit report of the year. How did you get on in January? Leave me a comment to let me know, I love hearing from you.

January income and profit report pinterest image


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Previous & Next Posts

backward arrow for previous post   forward arrow for next post In my last post I shared the progress I made toward my 2019 goals in January.
  In my next post I give an update on my progress toward becoming financially free.

You can find all my previous income and profit reports here.



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