February 2019 Self-Employed Financial Statement

Every month I detail my financials. For a month-by-month view, you can see the full spreadsheet here. Here is my self-employed life financial statement for February 2019:

Income: $345

This month I started to see a bit of traction on a number of different digital products, including selling my first two consulting template packs after installing them as a product on StrategyU and also starting to sell Think Like A Strategy Consultant again. Also, since switching to Substack, I’ve added a few more paying monthly subscribers.

  • Consulting Fees: $0
  • Coaching Gifts: $120
  • Teaching: $0
  • Patreon: $64
  • Substack: $16
  • Courses: $67
  • Digital Products: $68
  • Udemty/Medium/Amazon Fees: $20

Personal Cost Of Living: $1,493

I stayed most of the month in Bali again. My housing costs were a bit higher as a deal I had negotiated went up in price. If I were to stay in Bali longer-term, I believe I could probably get housing under $400 a month quite easily.

  • Room & Board: $618
  • Food, Shopping, Misc.: $710
  • Health Insurance: $99
  • Travel, Trips & Transport: $66

I also used points to book a flight back to Taipei and pay for a round trip ticket for my partner to visit for two weeks as well!

Business Expenses: $1,192

  • Coworking: $33
  • Calendly: $8
  • Podcast Costs: $0 (I switched to Anchor: read more here)
  • Contract Labor: $1000 (a new partner I’m working with for StrategyU.co)
  • Quickbooks: $19
  • Teachable: $33
  • Video (Zoom): $16
  • Cell Phone Costs: $25
  • Annual LLC Fees (Monthly Cost): $42

Self-Employment Taxes: $53*

*I pay these quarterly, but the rate is 15.3% of income. Actual final tax bill will vary because, well who can figure that out?

About Paul Millerd

Paul is a writer, creator, and curious human that is passionate about how people can reimagine their relationship with work to do things that matter. He published The Pathless Path in 2022.

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