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Neville's Financial BlogTracking the road to financial success from the age of 22. |
June 2006 Review
Posted on 07/01/2006 00:00 AM | Link | Post Comment
For the remainder of this year my goal is to increase the income of my existing small businesses, create a few new ones and by years end have them making a combined total of at least $7,500/month on a consistent basis.
The foundation of that income will be House Of Rave, the business has been a constant money maker since high school, so it's much less volatile than newer ventures.
For June, HoR brought in over $2,500 in profit (about $7,900 in gross sales). If this continues, I am halfway to my HoR goal of $5,000/month.
Interesting Fact:
Last year in June, House Of Rave brought in $718 in profit. So from last year there has been over a 300% increase in profits.
Next Steps:
Of course doubling income for HoR will be a difficult task, but I've already started to prepare for it. I've upgraded my shopping cart software which by Monday will support the BRAND NEW Google Checkout feature, and I'm working on allowing visitors to comment on the highly popular video section. I'll also be visiting the supplier I've worked with for so long in California.
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Judging from this post, my June 2005 account balances totaled $26,374.
My current account balances are:
General Account - $ 1,700Spending Account - $ 200Spending Account 2 - $ 811Investment Account - $ 3,523Bill Account - $ 1,202Permanent Savings - $ 2,828Charity Account - $ 338Stock Portfolio Value - $ 11,073Roth IRA - $ 6,674Emigrant Direct - $ 5,015
Total Liquid Assets - $ 33,364
Credit Card Balance - $ 0Business Holding - $ 3,692
Total On Hand - $ 37,056
- Improving Hor - Day 22
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Examples
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