This week I earned $166, all of which was from staff writing, virtual assistant work and advertising. That means for the entire month so far, I have earned $3.097.22, which I find mind-boggling! When I had to make the decision to quit my job in June, I knew that if I stayed at the job, after daycare for two girls under 3, I would only be bringing home about $1,000 a month. To see how far I have exceeded that income is amazing, especially because I get to work from home and take care of my kids during the day. (Not to say that it is easy, but I am so glad for this opportunity!)
However, not all of that money gets set aside for February’s bill. I immediately snowflaked the entire pay from one of my virtual assistant jobs. In addition, I had $50 in blog and PayPal expenses, so all told, between snowflaking and blog expenses, I deducted $141 from my earnings this week, leaving me just $25 to put aside for February expenses for a grand total of $1,458.27.
I do have two rather large payments pending, so if those go through by the end of next week, I will close up the month nicely.
To see how others are doing on their challenges, visit The Saved Quarter.
The Saved Quarter Challenge, 2012, #1 – Earned $1541.22
The Saved Quarter Challenge, 2012, #2 – Earned $1390.00
{ 6 comments… read them below or add one }
That is an impressive amount for the week just from stafff writing! Don’t forget to account for taxes as an expense…
Thanks. I am now making enough that taxes are finally becoming a consideration.
How are you accounting for your tax liabilities? I looked through your old posts, but I didn’t see anything about setting money aside to pay income tax on your earnings. Can you explain how you are doing that?
We made so little money together last year, I don’t think it should be an issue for this current tax return, nor did my bookkeeper. However, I am working with an accountant to file my taxes, and based on how my earnings are growing, she is going to give a recommendation for taxes.
You had some yummy recipes. I would definitely be making the enchiladas if we could eat cheese.
Congrats Melissa! You are doing great. Definitely smart to speak with an accountant to be prepared for taxes.