Sunday, 3 July 2016

Income Report: June

Ok, so this is my second report and it certainly threw up a few elements I hadn't considered before. It's early days with all of this but I've certainly learned a bit about consistency (or lack thereof), assumptions and random trends (in this case "Brexit").

So it's time to have another look.

Resume writing: $726. So for May I estimated that I made about $800 in resume writing. It actually turned out at a more healthy $953. But at the same time it should have been more...

Why should it have been more? Poor organization by me and Brexit. I'm British so kept a keen eye on events in the run up to the referendum that decided on whether the UK was going to leave the European Union. What I hadn't factored in was the fact that UK voters would actually vote to leave!

How does this relate to my earnings? Well, my resume work is with a UK-based company and they pay in pound sterling. I get paid directly to my PayPal account, denominated in US dollars. The day before the vote you could get US$1.43 or so for every one pound. The shock of the departure from the European Union saw the UK currency collapse and resulted in a US$1.33 conversion rate.

That wouldn't have mattered so much if I had invoiced the UK company at the correct time for payment for May - i.e. before the referendum. But I didn't. As a result, I probably lost about $60 as a result of the pound collapsing.

So the message is to stay organized.

As for June, volume slowed because of the summer so I received less work than before and can expect fewer resumes at the moment. As a result, there's even more reason to build out my own resume writing brand locally.

Article writing: $120. I haven't done much in the way of writing but I did manage to get paid $120 for a single article. That's because the last piece I wrote up required a lot more work to get it into shape.

That's the big problem with this consistent gig. It takes a long time to get the written piece to the right standard. For example, I've been working on a piece over the last three weeks or so and still haven't finished it.

Prolific Academic: $27. As mentioned previously, this is the only survey I bother with.

And this was a pretty good month for it as well. One reason for that: Brexit. Because I'm British there were a number of surveys posted to see how people would vote in the referendum. This was great for me.

The currency element sucks again, though. as the surveys are denominated in pound sterling. But all in all a decent month for that.

Fiverr: $0. Zero sales this month.

Postloop: $0. Not the best result here either. I've done a bit of forum writing but only worth pennies, So I'll skip that.

So that's it: $873 compared with a revised figure for May of $1,127.50

Down on the previous month by over $250. For now, I'll give myself a score of C--. No passive income, less diversification and a lower return than last month. At the same time, I'll raise last month's to C+ after getting more income in resume writing than I expected.

It's not the best, but the marathon continues. And the passive income story is to come.