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February Recap

February 27th, 2015 at 01:50 pm

What. A. Week.

Things started out rough, but they've increasingly gotten better the closer to the weekend we've gotten. Go figure Smile

I hopped on Mint and took a look at my monthly budget and spending to see the damage, as February will be coming to a close in a measly 2 days. Seriously, how fast is time moving this year. Amirite?

Income *---

Income this month was pretty much alarming. I budgeted for $3,250. I actually only made $1,422. Part of the difference is about $1k in outstanding invoices that my clients haven't paid. But still my budget was supposed to be a conservative number - in reality I expected to book another wedding or two (particularly because my bookings were so poor in January).

In good news, though, I did have a contract signed this week, ending my painful dry spell. And I've met and/or talked with a handful of prospective clients this week - and feel confident that at least two of them will be booking with me for 2015.

Still no 2016 dates on my calendar. I'm not sure if people are just procrastinating more this year, but ah well. We're planning on moving out of state in May 2016 - so it's probably not terrible that my calendar isn't full of weddings in Ohio.

Spending *---

I've got to say I'm a bit proud of myself. Most months my budget is awash with red come the end of the month. This month? I only went over in two categories: Business Expenses and Credit Card Payments. Clearly I'm not upset to be paying more on my CC.

I have a really hard time staying within my budget for my business. Most of the time, they are necessary purchases - printer ink cartridges, parking downtown so I can work my big project, prints for clients, etc.

I was $150 over my budget. The only "extra" I purchased this month was an online class for $50 that was worth every penny. The $50 in printer cartridges was unexpected as well. I also spent $190 in client prints - which are included in their packages, so they're non-optional. I guess I kind of forget how much it all adds up.

Nonetheless, I'm very proud of myself for not going over in any other category. I did have some purchases that I'm sure were non-essential - clothing purchases (all work clothes), some nail polish that was definitely more "my day has been crap so I'm going to treat myself" than a necessity. I did buy lunch a couple of days, and I'm going to keep that to a minimum going forward. We didn't really go out much this month, though. So our entertainment spending was record-breaking low.

I didn't use even half my budget for restaurants, and I used zero of it for bars/alcohol. I also managed to only spend $16 on gas this entire month. I'm not sure how that happened, but I'll take it!

Rest of the Year Outlook *---

Looking at my bookings for the year, I've got $30k total income so far. My goal for the year was to hit $42k - so I've got $12k to book still.

I looked over my model to readjust my goals:

- 2 more weddings in 2015
- 7 portrait sessions
- 5 event/commercial
- 10 weddings for 2016

If I can make those targets, I'll meet my goal. I think that's entirely doable, and I hope I'm right. Well, I hope I go above and beyond my goal really - because my expenses are going to be way above my predictions (particularly in the case of my business), and I want to make sure I'm not struggling. Running a business is just frickin' expensive. But honestly, it's everything to me.

Anyhoo, I hope you all had a great February, and will have a successful March! Bring on the nice(r) weather!

1 Responses to “February Recap”

  1. VS_ozgirl Says:
    1425070711

    It's nice to see that even if your income is trickling in this month it's also trickling out. Keep up the good work!

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