I’ve seen a few other freelance designers post their monthly income reports, and I’ve always been fascinated by them. It’s really personal information to share how much money you earn, but as a freelancer myself, I always love to see how others are getting on and where their money comes from. So I thought I’d do the same.. at least for a while to see how it goes. 😉
Each month (or the months I feel like it..) I’m going to share with you how much money I’m earning, where that money comes from, and what my expenses are. Hopefully it will be interesting for you guys to see the ups and downs of a freelancer if that’s the path you’re thinking of taking!
All the screenshots and stats you see are courtesy of my homemade accounting system. 😀
March 2014
March Sales
- Design & Web Services: £815.52
- Hosting: £355.50
- Pre-Mades: £964.80
Total sales: £2135.82
This month was great for pre-mades! I’m thrilled with how those are doing. I also finally started taking on design/web services work again, so I saw a decent intake from those.
March Expenses
- Hosting: £187.21
- Licenses & Subscriptions: £65.13
- PayPal Fees: £54.92
Total expenses: £307.26
I think I’m actually missing a few hosting expenses from that list because I didn’t record them. This data was mostly imported since my accounting system was only finished at the end of the month, and a few things slipped through the cracks. But I think the hosting expenses should be more like what the intake was (£355).
Profit (before taxes): £1828.56 / $3078.20
April 2014
April Sales
- Design & Web Services: £1006.83
- Hosting: £262.06
- Pre-Mades: £817.04
Total sales: £2085.93
You’re probably wondering why hosting sales went down a bit this month from March. That’s because March saw a huge influx of new customers who bought domain names ($11) and things like that. April was mostly the month of “renewals” which means no domain names were purchased. That means less hosting sales, but also less expenses (because I only actually make like a $0.50 – $1 profit on domains lol).
I really amped up my design services in April though, it’s great!
April Expenses
- Commissions: £3
- Conventions & Events: £86.68
- Hosting: £249.12
- Licenses & Subscriptions: £11.28
- PayPal Fees: £55.64
Total expenses: £405.72
“Convention & Events” is purely my BEA pass. 😉 Yay for being a business expense!
Profit (before taxes): £1680.21 / $2837.20
What do you think about this new feature?
Is it weird? Too personal? I hope it’s not too “LOOK AT MY MONEY!” I’m not trying to shove it in your face or anything. But as a freelancer myself, I think it’s really interesting (and even helpful) to be able to look at the sales and expenses for other freelancers. Hopefully I’m not alone in thinking that!
OMG, I am always looking for people who talk about money, how much they make in their professions. I just don’t think it’s something that should be hidden. If someone asks, why not tell them? It’s not like you are boasting, it’s just fact. Thanks you so much. I love seeing this because I want to be where you are at one day.
No problem! Sometimes it can feel a little weird, like you’re comparing money (which then feels like comparing success), but I really like to see reports from other freelancers so I thought I’d do the same!
I think it is great to see how you are doing as a freelancer. It is always good to see someone do well especially when they put so much into their work. I find it interesting to see what other people are earning in my field too 🙂
Thanks Rosemary! 🙂
Actually this is really useful. Although I would never freelance in the same way as you because you are uber skilled it’s interesting to see someone actually tell you how well they’re doing!
Thank you for the post!
Jaq
My pleasure! 🙂
Noo it’s not weird. You’re making me a bit jealous, but that’s it. 😛 I’m happy you’re doing so good with your design services! 😀 You really are talented and awesome.
Thanks so much! 😀
It sure looks like you’re doing great! I’m still struggling in the freelance business. Hopefully it gets better! 🙂
Good luck! I hope it gets better for you! 🙂
Thanks, Jessica!
Hang in there! There are definitely ups and downs.
Thank you, Ashley!
Thanks for sharing! I love this post! I find it very informative, even for someone who’s not considering freelancing.
I’m so glad that you’re doing well! Congratulations!
Just a question, please don’t answer if you find it too personal. I am just curious, coz I know some freelancers struggle a lot and find it hard to make ends meet. Do you have another job or another supporting income? Or are you depending solely on the profits you make from freelancing? Is the profit from freelancing enough to support your lifestyle comfortably? If yes, may I know what are the factors you think might have contributed to that? Actually, I would love to know about your freelancing experience! I find it very interesting to hear about and understand more about others’ jobs, if they are comfortable with sharing 🙂
I don’t have another job, but I think it’s extremely helpful that I’m married and my husband and I can combine our income. With the two of us, we can live pretty comfortably. I wouldn’t be able to live where we are now all by myself because my income by itself wouldn’t support that. So I think I could get by, but if you estimate I’m earning about $3,000 per month, that’s $36,000 per year (before taxes), and that’s honestly not very much. At least not when you consider that the starting salary for an employed web designer is more like $40 – $50k per year (with it potentially going up to even $75k). So with that comparison, I’m not making a whole lot. But for me personally, I really value being able to run my own business so that makes it feel worth the cut in pay.
See: http://www.webdesigndegreecenter.org/starting-salary-for-web-designers/ and http://www.ask.com/explore/starting-salary-web-designer
Thanks Ashley for the detailed reply! You’ve really helped me to understand freelancing more!
Good luck! I hope your business gets even better! 🙂
I think it’s great that you are open with your income, especially for such an interesting profession. And it’s fascinating to see how much you can make as your own boss, and I know you’re still really young. You should be proud!
Thank you! 😀
Awesome post Ashley. My brother and I were just discussing all the things you do and wondering what the income was like because he’s in school trying to decide the direction he wants to go with his graphic and programming skills. Someone being so open about what they make is really helpful for someone like him who’s trying to make some big decisions right now! Thanks for sharing! (side note: you should be really proud of what you’ve accomplished at such a young age!!)
Oh awesome! I wish your brother all the best. 🙂 I think it’s great that your brother has both graphic and programming skills. I think it helps to have both (rather than just one).
I really like this new feature! I think it’s so cool to see what features of yours are the most popular and how much money you spend each money delivering on those services and all that 🙂 And yay for going to BEA, I hope you have tons of fun there! <33
Thanks Eileen! 😀 I’ll miss you at BEA!! It just won’t be the same without you!
Very interesting! I’m always fascinated by the work you do, probably because I suck at all this technical and creative stuff!
Wow. Seriously, that’s very good results considering you’re just beginning! You’re already earning the equivalent of a salary. Most freelancers don’t do as good at the beginning, when they need to build a client base. You managed to get that very fast… impressive! 🙂
I don’t think it’s too personal or ‘in your face’ at all, it’s really interesting actually. I’m glad to see you’re making a nice profit, as obviously it’s something you put a LOT of your time and effort in to – and I have to thank you for all your help lately! 🙂