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Personal Income Statement, January 2007 (Net Income: $5,415)

This article was written by in Monthly Update. 9 comments.


If every month this year turns out like January 2007, I’ll have nothing to complain about, except the amount of work I have to do. You might want to check my balance sheet first, or jump right into my income and expenses.

Income and Expense Report

I’d like to say that I set a personal record for income this month, but I’d be wrong. I earned about $1,000 more before expenses in March 2006 thanks to my annual bonus. On the other hand, this is the most I’ve earned outside my regular paycheck. I don’t expect that to continue; in fact, February may seem like a disappointment in comparison. If you’re interested in reading more about my side job income, I generally write more about blogging and online income on Meta.

I need to start seriously considering tax liability rather than just letting myself be surprised when I calculate my return, which is what will happen this year. I’m going to end up with a significant bill, so I’d rather deal with taxes on a quarterly basis.

One of my goals for 2007 is to cut back on my food-related spending. That hasn’t happened yet. This is going to require a conscious effort to buy the right groceries, prepare my lunches, and motivate myself to eat healthier. I’ve failed at this in the past, so I’m really going to have to motivate myself using whatever means possible.

Nothing else seems out of the ordinary. My electricity bill seems to be following the same pattern as last year, so I expect that to continue. I will need to purchase airline tickets for a trip to California in April, so that will be a large expense. Airfare seems to get more expensive each year. It will be affordable, but the longer I wait as April approaches, the more expensive it will be.

Updated February 6, 2012 and originally published February 2, 2007. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 9 comments… read them below or add one }

avatar ntguru

How are you generating these–through Quicken?

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avatar Luke Landes ♦127,387 (Platinum)

Quicken holds all the data, and I export a custom income/expense report into an Excel template similar to this one.

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avatar Dus10

Well, if you don’t start addressing the dining out issue, the least you could do is try to maximize your perks for dining out. Rewards Network has a great list of restaurants that give you some rewards. The two programs that utilize it, for which I am aware, are UPromise and AAdvantage. I have used both, but I now use the AAdvantage program exclusively (aa.rewardsnetwork.com), because I have a goal to get 25K miles accumulated this year. I reached elite status this month, so I get 10 frequent flyer miles per dollar that I spend. They also have bonuses from time to time (like right now). For January and February, I will have about 10K miles, so I won’t have much of a problem reaching my annual goal.

In addition, the card I use already has its own rewards, so I double dip there. And, I try to go to establishments that have some sort of other benefit (like a frequent patrons card or an online coupon).

I used to eat Subway very often, but I now frequent a Quiznos for the same price, thanks to my coupons, and get a lot of rewards.

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avatar Matt

You’ve seen a monster boost in Business Income these past 6 months or so- I would be interested in seeing the breakdown, if you haven’t done it already (and I missed it).

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avatar Luke Landes ♦127,387 (Platinum)

Matt: I haven’t addressed the specific sources of business income other than to say it’s from advertising on this and other sites (when I get a long-term contract, I lump all the income in the first month), subscriptions, and freelance work. I’ll probably post more details on Meta.

Dus10: I haven’t had a chance to maximize my rewards beyond the 2% I’m getting from my Citi Dividend card (latest $200 check on the way) and the few cents I get from uPromise.

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avatar not confucius

very nicely done… of course, if you spend more time working, then you’ll have less time to incur expenses (at least leisure)… jk… =)

thanks for sharing… your posts are very informative…

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avatar Saving Advice

Congratulations on a stellar month with your “hobbies” – keep those numbers up and your net worth will soar this year.

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avatar Money Vs Debt

Geesh now thats what I call blogging! That crazy awesome you went from absolute $0 to $5k!!! In two years, what is your now uhhh side job. :-P That thing they refer to as your 9-5 because obviously PF Blogging is now offically your bread winner :-D

Also how many blogs do you have that your write in?

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avatar Luke Landes ♦127,387 (Platinum)

Money vs: I saw a spike in January, but I don’t think it’s sustainable. But over the past few months, this is how it has been. It’s a strange feeling to be making more from my extravocational activities than from my day job.

Of course, I can’t just decide to quit my day job; there’s the whole issue of benefits which are being significantly subsidized by the employer… and the security of having a job with a predictable income.

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