Sunday, July 31, 2011

Pay the Taxes Challenge: July Results

It's time to check in with the pay the taxes challenge. I did better than expected even though I didn't make money in all the income categories I could have. In the month of July I made $245.52 outside of my regular job. That's 35% of the way to my initial goal of $700! However, when I made that goal, I forgot I should also take into consideration that most of these earnings will also be taxed, so I should probably add another 25% to that $700. So I really need to raise $875 total to pay the $700 in taxes. Darn taxes! I feel like I'm getting taxed on top of the tax!  So, I'm pretty much starting over again this month with $629.48 left to earn to reach my goal of making $875 before taxes outside of my full time job by the end of the year.

Here are the numbers broken down:

Part time job: $52.01
Blog advertising: $178.27
Amazon affiliate: $15.24
Babysitting: $0
Ebay (minus fees and shipping costs): $0
Craig's List: $0

Total: $245.52
Total left to raise: $629.48

My part-time job was about what I expected.  I didn't try to sell anything on Ebay or Craig's List this month. I finally got around to posting some Ebay auctions today, but they won't end for a week, so anything I make there will go towards next month's total. I was asked to babysit once, but had other plans, so unfortunately I didn't make any money babysitting this month either. As you can see my biggest source of income was advertising. I had started another blog about three years ago and pretty much just report on news stories about a certain topic and that's where I make about 99% of my blog ad revenue. Sadly I expect the interest in this topic to die down a bit next month and then really cool down this fall. But, I still did better than expected for this month!

No comments:

Post a Comment