I mentioned in my August net worth report that there were three main reasons for my 7.7% increase. One reason was the stock market, which slightly lifted some of my investments. The other two reasons should be apparent from the income and expense report that is included in this post.
My net income for the month was $11,582. That’s the highest monthly amount on the bottom line I’ve ever had when not including realized gains. In fact, my August total beats my 2004 full year total. Continue reading for the full report and details. Click on the image for a larger version of the report.
Answers to Frequently Asked Questions.
The report is made with Intuit Quicken and Microsoft Excel. Here’s an income and expense report Excel template.
Explanation and Details.
My salary line is larger than usual this month. Thanks to the biweekly payment schedule, I received three paychecks in August. When you budget on a monthly basis, three-paycheck months are big boosts to cash flow. Business income was also larger this month, thanks to a multi-month advertising deal. I’ve sent out the invoice, but haven’t received the payment yet. I consider the income recorded even though I the money is not yet in my hands. If for some reason the deal falls through, I will have to cancel the invoice and adjust my income for August after the fact.
I’m thankful of what I’ve been able to accomplish so far with my “side business.” Consumerism Commentary itself is the main driver of this income, but there are a few extra endeavors that contribute. I’m not convinced that this level of income is sustainable forever, so I’m trying to make the most of it now. I’ve considered many times leaving my day job and devoting an additional 8 hours a day to writing and managing websites, but I’ve delayed that decision for a while.
Then again, right now I have few responsibilities to people other than myself. This might be the perfect time to take a risk. On the other hand, I have a lot of flexibility and “social capital” at my day job right now. There are many factors to weigh before making this decision, but it is frustrating that I have to do all my writing and webmastering between 6:00 pm and around 2:00 am, at the same time I also need to be cooking dinner, doing chores, and spending time with my girlfriend. Those precious 8 hours “lost” to a moderately-paying but relatively-secure corporate job might be better spent working for myself.
I’ve spent about $500 so far replacing items stolen from my car last weekend. I think I’m going to pass on replacing my GPS navigation system. Another notable purchase this month is a pair of running shoes. I’ve started walking during my lunch hour at work, trying to maintain four miles per hour for about thirty minutes. My sneakers don’t provide the right kind of support, so I went to an expert who analyzed my gait and recommended shoes that will provide support where I need it.
I expect September to be a slower month. While my regular income will remain constant — I will receive only two paychecks this month — I expect a decrease in overall income. My goal for now is to keep income from my websites equal to or greater than income from my day job, and that might take some extra work, and some luck, through the end of the year.
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