July 2020 Income Review - could have been a lot worse!

July's income was lower than I'd anticipated at the beginning of the year, but much better than I'd expected given the whole covid-crisis!

I've decided to start reporting my monthly income in percentages, it's much less revealing than doing the raw amounts!

This one's somewhat belated, but it is what it is!

Sources of Income

• ReviseScoiology.com resource sales - 55%
• ReviseSociology.com ad revenue - 5%
• ReviseSociology.com chat bot - 13%
• Marking - 6.5%
• Teaching - 0%
• Ebay sales - 3%
• Hive - 20%

I don't count any gains from passive investments, I'm not really sure why, I guess because in my head 'income' is something I live off, whereas I'm not willing to start drawing down on my investments for day to day living expenses just yet, so I let those returns accumulate.

Analysis

My revisesociology.com resource sales have been outstanding for July - in fact they're 800% up compared to last July. This is mainly due to one person making an enormous purchase, which is appreciated. I also think exams being cancelled have made a few students want to get ahead with next year's exams already.

Something else that is working out nicely are my teacher subscriptions - I'm currently up to 7, with 0 attrition, which is gratifying.

The ad revenue is just crap, I really need to sort that - it's tumbled since a couple of years ago.

The chat bot is an odd thing - it sits on my homepage and takes you to an assignment sales page, I then get a cut of assignments people pay to have written for them. Well, if we must have an education market, we may as well make it pure!

My earnings aren't quite as good as for the first month, when they just paid me, up front, $800 for a month of hosting it, but it's certainly helped with the finances in these crazy covid-times.

Marking is what it is - level 5 teaching Diploma marking - the least fun thing I do, but it takes less than an hour 4 days a week so I'm keeping it as part of my diverse income streams.

Teaching - £0! Courses for July were still cancelled, and I'm not sure I'm up for any going forwards either anyway.

Ebay sales are now scraping the bottom of the barrel - I've sold most of the good stuff, but if I can make £5 on something, it's still worth sticking on!

Hive - I'm still fortunate enough to be able to regard this as pure savings income, I don't need it to live off. It's a bit of a weird one with Hive - the percentage of my income depends on the Hive price. Ideally I'll keep on earning enough from the other sources (mainly just my other blog!) and keep on powering up, but if Hive goes to $1, it suddenly leaps to around 60-70% of my income I guess.

Funny thought!

The stats are actually from the last 30 days, but my income's pretty stable so it's accurate enough

Income compared to expenditure

I haven't looked back at July's expenditure yet, but I intuitively know it was a very light expenditure month.

As with the previous three months, all I've is gone to Tesco and Poundland once, and the odd Gregg's. I did buy a few beers here and there too.

Besides that, I don't think I had any major expenditures!

Final thoughts

If my income stays as it is for my planned move to Portugal, then happy days, I can live off what I earned this month, fairly easily too, and I might even be able to sneak a few squid away into savings!

Posted Using LeoFinance