Earnings December 2010

Although the financial year runs from April to March, I usually account for my earnings in calendar years and am reporting a profit of a little over £1250 this year.

Since I have started making significant amounts, it is all reported for tax too.

An Adsense payment and some affiliate income has boosted December to become the second best month of the year.

The steadiest income is from paid posting, the majority of which comes from PayU2blog, although every so often, I do get the odd opp from others companies.

Profitability for December was helped by a practically nil-spend. I am trying hard to limit spending, but it is very tempting when most payments arrive via 'Paypal' to then go onto eBay and buy lots of little things for myself and the family. In a way, this spending prevents me from feeling the need to spend hard-earned 'real' cash from my 'day-job' so I allow myself the indulgences. However, every so often I need to remind myself that the money could be better used paying off credit card bills, and am worried that the enjoyment of spending Paypal money is counter to the 'thrifty-living' philosophy that I have being living by since I became the only earner in the house.

At least my spending is relatively moderate, and this year we have once more paid a chunk off the mortgage by overpaying whilst the rates are so low. I have a feeling that interest rates are due to rise over the next 12 months, so the overpaying will have to be trimmed accordingly. Nevertheless, since the onset of the financial crisis, I think we have managed to pay off an extra £3000 off our mortgage due to the ridiculously low rates (we have a tracker mortgage which is only a fraction of a percent above base rate). Even if we have to stop the overpayments, the benefits of this boost to the mortgage should be significant in the longer run.

I am already churning over some new projects in my head and would like to create some quick and easy websites using some of my internet knowledge and experience which could turn into passive earners. With any luck, I will be reporting improved passive earnings next year - passive earnings are my favourite!