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I cannot believe that it’s been 1 full year since Inspired Budget has been an actual place that you can visit on the internet! I’ll never forget when I hit “publish” on my first blog post. I was so worried and thought that no one would read it. I doubted myself and I looking back, I wish I would have given myself more credit. Not only have I made money this year (which I will detail in this blogging income report), but I have learned that my passion for personal finances and helping people save money runs in my blood. Seriously, I could talk about this all. day. long. More and more I am learning just how Inspired Budget allows me to take my love of teaching and combine it with my passion for finances. And I am happier than ever to share that passion with you!
Why I’m sharing my blogging income report.
Before I give you all the juicy numbers, I want to take a moment to explain exactly why I’m writing a blog income report. It’s an odd thing to write and you may be wondering why on Earth I’m willing to share this information. Well, let me tell you that I’m pretty much an open book (sometimes to a fault) so I’m going to give you all the details. I’ve listed out several reasons why I decided to publish my income from my blog.
- I want to be able to look back years from now and see where I started. We all have a beginning and I feel like I’m still in the beginning stages of this business! Of course, I hope to continue to produce an income from Inspired Budget and I hope that income grows over time.
- I want others to know that it’s possible to blog as a side hustle! So often people need extra income to pay off debt and save money. I’ve been there and I sometimes wonder if we could have become debt free a lot sooner if I had started this blog 5 years ago.
- Ultimately, I want to inspire others to go for their dreams! After originally thinking about starting a blog, I gave myself a hard time. All the doubts flooded my mind. What if no one wants to read my work? What if I never make a dime? I’m so thankful that I ignored my insecurities and went for my dreams! I hope you too can reach your goals and kick the insecurities to the curb!
Some quick disclaimers.
One of my goals is to be transparent with all my readers! I want to tell it how it is and I never want to hide something or lead you to believe something that is false. So for that reason, I’m going to set some disclaimers here about my income.
- The income that I am sharing today is only what has cleared my bank account within my first year of blogging. I am not counting any income that has not entered my bank account yet!
- Most of this income was generated in the past 6 months. If you read my 6 Month Blog Income Report, then you know that I made $447.85 before expenses. So that wasn’t even how much money I actually got to keep! It’s so amazing what another 6 months can do!
- Blogging takes time. This is definitely not a get rich quick attempt! During the school year (when I’m working as a full-time teacher) I am putting in anywhere from 10-15 hours each week on my blog. During the summer, I’ve been working on Inspired Budget for about 30-35 hours each week. The good news is that I’m doing something that I really love, so the time goes by fast!
Okay, okay. Here’s the part you’ve been waiting for.
I know, I know. Get on with the good stuff, right? Okay, so here it is! During my first year of blogging, I made $7,297.06 before expenses. Please read that carefully. That is before expenses. Here’s the breakdown of my earnings:
- Budget Binder Bundle: $5,377.47 This is the income that I have made directly from my Budget Binder Bundle sales.
- Coaching Income: $1,357.85 Back in May I decided to try out something new. Since I had some extra time this summer, I took on 7 clients. I’ve been working with them to get their budget set up. It’s been so awesome to talk with people one-on-one and truly coach these amazing clients towards financial freedom! I’m able to meet them where they are when it comes to budgeting and help them make progress.
- Google Ads: $486.43 I have several ads on my website and Google pays me when I hit a certain threshold each month.
- Amazon Affiliate: $75.31 I get a veeeeeeeery small percentage from any sales through my Amazon Affiliate links. I don’t recommend products often, so this number is definitely not a ton!
Of course, this amount does not include how much money I am spending to keep my blog up and running. So let’s look at my expenses below!
My blogging expenses.
During my first year of blogging, I spent $2,919.89. I’m not going to go through every single expense, but I will touch on most of them below.
- Convertkit and MailChimp: $524.32 I used MailChimp for most of my first year, but I found that they were not sending all my emails out. I decided to switch to Convertkit in March. I wish I had switched sooner! Although some of my emails go to people’s spam folders (make sure to check there, friend!), it’s a lot less than when I used Mailchimp. Convertkit is a tad pricey, but I still love them!
- Etsy Fees: $181.51 I no longer use Etsy as my main selling source for my Budget Binder Bundle. But since I still do make sales on Etsy every now and then, I do have to pay monthly fees based on how much I sell.
- Elite Blog Academy Course: $897.00 I decided to make a HUGE investment and purchase the EBA Course. I have not completed the course, but I’m loving it so far!
- Stock Photography: $319.00 I switched over to a new stock photo site and I’m loving them! I’m currently using Kate Max Stock Photo and I purchased the yearly subscription. I highly recommend investing in a stock photo membership because I save a ton of time now that I no longer take all my pictures or scour the internet for pictures that I can legally use!
- General Supplies: $395.89 I grouped several “supplies” together which included things like my Blue Yeti Microphone, webcam, and some cute backdrops for some of my images. I also paid for a PO box for 6 months, an Erin Condren planner, and a cute calculator.
- Giveaways: $223.54 I love to host giveaways on my blog, and one of my favorite things to give away is my cash envelopes filled with money! This amount covered the cash as well as the cost to ship these items to the winners.
- General Blog Costs: $378.63 This amount includes my hosting fees, my DBA for my business, and my Boardbooster fees (Boardbooster is no longer around!). This also includes my Bluchic WordPress Theme. I am currently using the Isabelle Theme and it does not disappoint! The best part is that they have easy to follow videos to make setup a breeze. If you’re thinking about starting a blog or switching themes, I highly recommend them!
Let’s talk about net profit.
After all my expenses, I made $4,377.17 in my first year of blogging. I know that this amount will not keep our family afloat by any means. And I definitely want to make more and spend less this next year when it comes to my business. I had no idea what to expect during this first year, but I now have set some goals for my second year of blogging (more on that in a minute)!
How I plan to spend, save, and pay myself.
I thought I’d share my NEW plan on what I will actually do with the money that I make each month. So here is my very new (and totally subject to change) plan.
- First and foremost, I will take 30% of my net income and set it aside into my business savings account. I know that I’ll be paying taxes and I don’t want to set myself up for not having enough money saved when that time comes!
- Then, I plan to keep 40% in my business checking account. My current plan is to let this 40% cover any expenses that come up. Of course, I hope to not spend it all and let it grow over time.
- Lastly, I plan to pay myself 30% of my net income. It’s not a ton, but I do have a plan for this money! My goal is to use my income from Inspired Budget to pay for my husband and me to take a vacation next summer together! I love the idea of being able to use my hard earned money on a trip for just the two of us.
What Inspired Budget accomplished in its first year.
As the face behind Inspired Budget, I feel like I’ve accomplished a LOT during this first year. But then again, I have some serious goals that I want to hit during Inspired Budget’s second year. I’ve rounded up a few stats from my first year of blogging:
- Pageviews: 251,477 I am proud of this number, but ultimately I’d love for this to be how many pageviews I have in a 2 or 3 month time span! So I have some work to do!
- Email List: 9,573 people are on my email list! My current opt-in is my Budgeting Basics Email Course. Although I still have people unsubscribe from my email list every day, I also have people joining it! So this number has been steadily increasing which I am very proud of.
- Instagram Followers: 39,600 Instagram is definitely where my people are! I love everything about Instagram! From the amazing community to the fun stories, it’s just where I like to hang out! If you aren’t already, you’ve got to start following Inspired Budget on Instagram!
- Number of Posts: 60. I try to post at least once each week, but sometimes I miss one week during the month. Somehow though, I managed to squeeze out 60 blog posts during my first year!
So what’s next?
I mentioned earlier in this post that I have some great plans for Inspired Budget in year 2! I thought I’d share a few things that I’m currently working on as well as share what I hope to continue to improve over the next year.
- Budget Better Than Ever Course: I cannot wait to release my first full course all about how to budget better than you ever thought possible! It’s full of how to write your best budget, pay off debt, and save money! I hope to release the course as soon as possible!
- Elite Blog Academy: I’d like to completely finish working through EBA before 2019 hits. It has helped me tremendously when it comes to organizing my blog and making it what I always wanted it to be. So after I release my Budget Better Than Ever course, I’ll be focusing on completing this wonderful course that I paid for.
- Tackle Pinterest: I know that I need to master Pinterest, or at least get better at the basics. It’s definitely out of my comfort zone and something that I need to improve!
- Increase Pageviews: I’d like to steadily see my pageviews increase over the year. I’m now averaging about 37,000 pageviews a month. I’d love to see that number go up!
- Client Coaching: I’m not 100% sure that I’ll continue coaching clients one-on-one, but I’m definitely open to it! When I go back to work in August I know that it will be difficult to juggle lots of clients, so I might open it up only to 2 or 3 new clients each month. We will see!
So there it is! My first full year income report as a blogger! Once again, I’m so thankful for where I have come and where Inspired Budget is headed. I ultimately believe that Inspired Budget has the potential to help thousands of people face their financial truth and gain control of their finances!