With the first month in the books, I still have a long way to go to reach my $7,957 savings target.
My income & savings for January included:
$150 from the Hospital. $17.18 from selling a study guide for the GACE exam online from Amazon. No affiliate sales from Amazon yet, but with 150 page views per month, it may be a slow process.
Total receipts for January are $167.18, which I transferred to my savings account. I am contributing 100% of revenues at this time, since my expenses have been low. Later if expenses increase, I may only be able to contribute net income instead of gross.
GIMO, my largest holding, had a bad month after a poor earnings release. I have lost $387.91 (37.8%) since I purchased in December.
My balances today are:
Brokerage – $710.37
Savings Account – $267.64
Pepsi Co DRIP – 360.84
My income & savings for February included:
I have grossed $516.25 YTD in my tax business. I lost $520 last year, so I have a net operating loss (NOL.) It costs about $2,000 annually for my software and other expenses. I will probably pay myself any profits toward the end of the year after all expenses are covered.
I received my Federal tax refund. I used to pay off my credit card debt, paid $2,000 in my HSA (spent $1,992 last year in that account, so this will most likely not accumulate.) I also switched Home and Vehicle insurers from State Farm to Progressive to save $294 annually. I used the tax refund to pay upfront, so I should get a $600-700 refund. I will use that for savings along with the $693 State refund expected.
I still have not made any Amazon Affiliate sales. I also did not have any hospital earnings this month either.
My account balances are now:
Brokerage – $754
Savings Account – $568
Pepsi Co DRIP – $380
My income & savings for March included:
I have grossed $953.75 in my tax business YTD. I only have one more return to prepare, so this year will be another loss. In an effort to earn more online income I plan to start creating small business and legal forms for purchase. I have only added one to my website so far, but plan on doing several more. The Legal Engagement Letter I created took about 4 hours and I will charge $1 for a download. If this takes off, I will create a separate niche site later.
I still have not made any Amazon Affiliate sales.
My account balances are now:
Brokerage – $808
Savings Account – $1542
Pepsi Co DRIP – $384
My income & savings for April included:
I left my job this month, hoping to build real value in owning my own business. I have not pulled from savings yet, my account balances are:
Brokerage- $720 (GIMO continues a downward spiral)
Savings Account – $1548
Pepsi Co DRIP – $388
Savings Account – $1449
Pepsi Co DRIP – $400
May was a horrible month for revenue, I made less than $700. I withdrew $100 from savings to pay bills and will most likely continue if I do not get more revenue.
I am a firm believer in keeping track of my contacts and using to analyze my revenue. I contacted 106 companies for audits. From that, I submitted 2 proposals. One for close to $10,000 and the other over $25,000. I sent my Resume to 42 companies for PT or temporary consulting/accounting work. I received one offer in Atlanta for 4 weeks, but had to turn down due to the first week required, my wife was on vacation (her reward for graduation) and I had to stay in town for the kids. I contacted 10 companies for janitorial services, no one responded. I applied to 13 PT jobs to help pay my expenses through January. All were entry level, so the companies probably recognize that I would not stay.
I also started writing an ebook to sale on Amazon. I am about 7,500 words in. I expect it to be 36,000 words in total.
Even with withdrawing money, my investments increased in value, adding $146 to my goal. I had to add my withdrawal back to my annual savings goal:(
Brokerage- $882 (-71)
Savings Account – $1350 (-99)
Pepsi Co DRIP – $399 (-1)
June was a discouraging month. I was not awarded either audit I bid for. I applied for 92 jobs, most temporary or I offered to work temporarily. I had 6 interviews, I was offered 1 temporary position in Atlanta, but could not come as quickly as needed due to my wife being on vacation. I contacted 57 companies for cleaning services and have not had a chance to bid on any yet.
Only $497,369 to go to reach my lifetime goal and $7,172.40 to reach my 2017 saving goal!
I will update this post monthly to show my progress.