2017 Income And Finance Reporting

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

May:

Brokerage- $953

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:(

June:

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.

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