Income Report – June 2012
Wow, well…I just looked at my income report for the month of May and I can’t believe how dark it seems. I wasn’t in a great place that month and for reasons that will certainly crop up in a future post, I’m feeling much better this month. So instead of spouting a load of nonsense, let’s get straight to the numbers.
Salary - £2043.28 after tax.
Property - £316 tax free.
Websites - £365.81 pre tax profit for my share of websites that I’m involved in. This is a little down from last month due to some outstanding payments so I’m expecting this to recover and hopefully improve next month.
Consultancy and web hosting - £57.50 – This is just ticking along and we’re not currently doing an awful lot with this. Web projects and maybe some upcoming app projects will be taking priority for the foreseeable future.
Dividends - £37.20 tax free. Another one of those sad months for dividends. I really do love this income stream and would like to make it a bit more stable. That said, maximising total return, with a heavy focus on income is a much more important focus for me. July and August promise to be much sexier months in terms of dividends payments.
Interest - £3.17. I’ve intended to grow this stream but I haven’t had an awful lot of free funds to make it happen. I have however invested over £1,000 in RateSetter, which should bring my monthly interest income to about £10. These baby steps are important to me as they will eventually reduce the volatility of my net worth as well as create a greater focus on income.
Non-salary subtotal £779.68 – Not my best, but still a respectable number considering. I do seem to be moving closer to my short term target of making over £800 every month so I’m really happy about that.
Total - £2822.96. With the many expenses of last month out of the way, my net worth has increased nicely, despite the fact that my earnings have decreased. Again, I think I can consider this a successful month. I’ve acquired more than £1,100 of assets in the form of consumer debt. Although my earnings are down a little, volatility is to be expected so I won’t let that get to me. I think it’s about time I started eyeing £900 as a monthly target.