Being Self Employed Has Ups and Downs | August 2020 Income Report | Summary and Q&A

TL;DR

In August, Debt Free Millennials' income decreased from the previous month but still exceeded expectations. The report highlights various revenue streams and milestones achieved.

Key Insights

• 🛀 August's income report for Debt Free Millennials showed a decline in revenue compared to the previous month, but it still reached the initial annual goal.
• 👨‍💼 The main revenue sources for the business included digital products, YouTube AdSense, affiliate marketing, and freelance gigs.
• 🥅 Debt Free Millennials has already surpassed its yearly revenue goal of $75,000, with several months still remaining in the year.
• 🥺 The pandemic and quarantine have affected the business's workflow and motivation, leading to the exploration of new projects and finding ways to stay productive and efficient.
• ❓ Engagement and growth on YouTube, with over 22,000 subscribers, have been a significant achievement for Debt Free Millennials.
• 😤 Connecting with industry experts, such as Matt Garland from the SPI Pro team, provided valuable insights and ideas to increase affiliate revenue.
• ⚾ Instagram has been a valuable platform for gathering content ideas and addressing real personal finance topics based on audience interest.

Transcript

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Questions & Answers

Q: How did Debt Free Millennials' income in August compare to previous months?

In August, Debt Free Millennials experienced a decrease in income compared to July, partly due to reduced freelancing work. However, the income still exceeded expectations.

Q: What were the main revenue streams for Debt Free Millennials in August?

The main revenue streams for Debt Free Millennials in August were digital products, YouTube AdSense, affiliate marketing, and freelance gigs.

Q: Has Debt Free Millennials achieved its yearly revenue goal?

Yes, Debt Free Millennials has already surpassed its yearly goal of making $75,000 in total revenue. This accomplishment was reached even before the end of the year.

Q: How did the pandemic and quarantine affect Debt Free Millennials' business?

The pandemic and quarantine imposed challenges and obstacles for Debt Free Millennials, such as fluctuations in freelancing work and experiencing quarantine fatigue. However, the business adapted by exploring new projects and finding motivation to stay creative.

Summary & Key Takeaways

• August was a slower month for Debt Free Millennials due to a decline in freelancing work, but the income still reached the initial goal set for the year.

• The revenue sources for the month included digital products, YouTube AdSense, affiliate marketing, and freelance gigs.

• Despite the decrease in income compared to July, Debt Free Millennials has already surpassed its yearly revenue goal.