May Income Report/ Overview

Now that we’re a few days into June, it’s time to take a look at how I did for the month of May.

This is my first income report and does not quite check all the boxes of where I’d like to be, but it’s a start.

The good news is that I did break my minimum threshold of $1920 for the month! Barely, but it counts. I also came in under in a few budget categories, so I will have a decent chunk of change to throw at a credit card or two.

Income breakdown:

Earning breakdown by gig:
VIPKid: $1191.00
eBay: $638.54
Grubhub: $585.41
Poshmark: $135.40
Doordash: $13.88
Total: $2564.23 ———> $1923.17 after 25% tax is considered

Gig breakdown:

I taught 116 classes and qualified for $29 of bonus incentives in May. I generally teach from 7 am- 10 am but am contemplating opening up 6 am slots to increase this number. The incentive platform changed this month, making it easier to track, so I anticipate receiving a higher participation incentive in June as well.

I sold 54 items on eBay for $931.95. After cost of goods, fees, and taxes were considered, my profit is $638.54 or approximately 68.5%. I am happy with the profit to fees ratio, but I would like to increase the number of sold items to 75 for June.

I delivered 50 different orders on 13 different days during the month of May for $585.41. This comes out to approximately $11.71 per order. My goal is to average $10 per order, so this checks that box.

I sold 11 items on Poshmark for $135.40 after fees and cost of goods. I crosspost what I post on eBay for more exposure on my clothing items. Overall, the Poshmark fees are a bit higher than eBay so I don’t focus my energy here. It is a very social platform that encourages sharing of items, following people, etc. and I find that takes more time than I want to put into it. I generally make (and expect to make) a lot more money on eBay. I would like to get this number up to 20 sold items for June, though.

As you can see, I did not deliver any orders for Doordash until the end of the month and I only delivered one. Doordash used to be my number one delivery platform until they reorganized their app and it became much harder to schedule shifts. I now use it as a backup for Grubhub and focus my energy there.

As for the monthly budget allocations, this is where my money went:
Car insurance: $100/$100
Jeep: $258/$258
Verizon: $78/$80
Discover loan: $369/$369
Dental Insurance: $20/$20
Qapital Savings goals: $168/$168
Misc./fun spending: $135/$135
Groceries: $280/$350
Gas: $139/$340
Dogs: $80/100

Which means, I spent $1627 of the budgeted $1920 and am $293 under budget! I also made $3.17 over that $1920 goal so I have a grand total of $296.17 to use as an extra credit card payment.

Plans for June
**Focus on consistent listing for eBay/Poshmark: list 5 new items per day minimum
**Add 2 budget category lines and approximately $100 to the monthly allocations. ($50 to a gifts category and $50 to a house sinking fund)
**Increase my income/find ways to decrease my spending without feeling deprived

Onto a new month!

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