what i made // what i paid: january '24

your monthly peek inside my glamorous bank account

so true king

Listen UP listen UP!!!!!!

Today I’m sharing the first installment in a monthly feature called What I Made // What I paid. This is a bonus for paid subscribers, but I’m making it free this month because I saw a spectacular image and I’m feeling generous. Here is the image:

spectacular!

The point of this feature is to ~demystify~ the freelance/publishing lifestyle. Each month, I’ll share exactly how much I made from my creative work, along with my estimated tax liability.

January was my most profitable month since I returned to freelancing full-time (read: got laid off) in October. When I say “profitable,” I mean “I did not have to pull money from my savings to stay afloat; also, I could afford several pickleback shots.” Here’s how it shook out:

graphic design is my passion

my January 2024 income: $3,079

Last month, I invoiced for a total of $3,079. I say “invoiced for” because I have not yet received all of that money in my bank account. Regardless, while three grand is obviously not a juicy bounty, it was enough to pay for my share of the rent ($1,100), bills, groceries and healthcare ($400 a month not including therapy lmao). It was also enough to purchase a cute and ostensibly ergonomic new office chair, which the cat has claimed as her own:

there is only chair, all day every day, chair chair chair

• Reporting: $1875. I sold work to two sites in January – The Takeout, a former full-time employer staffed by the sweetest, coolest people on Earth, and BBC Worklife, a US-based BBC channel (bruv, innit, etc.) that pays me $600 per article and $675 for quick-turn pieces. I pitched pieces to a few other outlets but generally did not hear back, which is how the cookie crumbles.

• Content marketing work: $1000. I do a small amount of SEO-optimized blog writing for random industries, which I honestly love because it’s stable work, the primary client liaison is great, and the subject matter is cool (AMA about aerospace-approved mechanical connectors). This work is contracted through a marketing agency which pays me $100 per 600–800 word blog post.

• Substack: $204. This really only represents monthly subscribers, i.e. the percentage of subscribers who pay my $4–6 monthly subscription fee instead of paying an annual lump sum.

honestly whoever gave me access to Canva should be shot on sight

my January 2024 tax liability: $923

I have a rule that I set aside 30% of all earnings for taxes. I do not touch that money—it goes into a separate bank account until it’s time to pay my quarterly estimated tax.

I pay quarterly without any regard for potential business writeoffs. Then, at the end of the tax year, I itemize with the help of my accountant in hopes of either getting a refund or, more realistically, breaking even/not owing the government any more money.

Jury’s still out on whether I’m getting a health insurance tax credit (more on that in a few weeks), but my January business writeoffs looked like this:

• Industry newsletters/subscriptions (~$30)

• Home office expenses (~$400 - I needed an overhaul for my LUMBAR)

• Processing fees ($120 – I invoice via QuickBooks for some clients, so the software takes a cut)

• Booking some upcoming work travel (~$150)

Conclusion: I had about $2,100 on hand for the month of January.

damn wow that’s not very much huh

That’s all for January! Feel free to shoot me an email or comment here if you have questions. Also… pay me to write for you? Please?

diversifying for massive dividends,

Lil