July Financial Report

My first ever monthly financial report, as you may have already read, I averaged my weekly spending on alcohol while I was drinking to $120 Per week, so over a month on average I was spending $500. A fair amount of money no matter who you are, I vowed to save at least $80 per week and use that money towards building up The Alcoholic Entrepreneur brand and other small projects which I will documenting the progress and finances.

The past months main focus has been the website, I registered the domain name (thealcoholicentrepreneur.com) through godaddy.com which cost $11.95 for a year registration and I set up the hosting through Bluehost.com they were running a special for hosting at $2.95 Per month I paid up front for a year so a total cost of $35.40 Bluehost.com's normal price is $5.99 Per Month $71.88 Per year. So it definitely makes sense to keep your eyes out for special's when looking at hosting as the savings can be rather large.

Once the website was registered and being hosted I hired a web developer, I used Elance.com and found a great developer from India with the rate of $7.50 Per Hour. we agreed on 60 hours to complete the work which worked out to a total of $450.00 This was paid weekly over 3 weeks at $150.00 per week.

So that brought the total spending of the month of July to $497.35 which is over the amount I had agreed to save each month by $177.35.

Although the bulk of that spending occurred in July some of it was spent back in May and June, and for this reason I am happy to allow the additional spending this month.

July		Saved		Spent		Earned
Week 1 1/07/2015 - 7/07/2015		$80		47.35		0
Week 2 8/07/2015 - 14/07/2015		$80		150.00		0
Week 3 15/07/2015 - 21/07/2015		$80		150.00		0
Week 4 22/07/2015 - 28/07/2015		$80		150.00		0
	Total:	$320		$497.35		0
Difference:	-$177.35

My goal for August is to make sure I get a bank account set up for The Alcoholic Entrepreneur so the saving's and spending will be separate from my personal accounts, i will also focus on finishing the site and get do a small amount of advertising by the end of the month to try and increase traffic.

I don't foresee a lot of spending in August so I should be able to save majority of the $320.


Success built from failure,
The Alcoholic Entrepreneur

www.thealcoholicentrepreneur.com