Believe In A Budget Review (2024)

A lot happened in 2016. It was my first full year of freelancing and I went into the year with determination, positivity and hope. I focused on my blog and businessby setting short, mid and long-term goals.

In a nutshell, here are 10blog highlights:

  • I focused on writing longer, better content. Most of my posts were between 2,000 – 3,000 words.I only wrote 45 blog posts in 2016, whereas in 2015 I wrote 130ish shorter blog posts.
  • My page views in 2016 more than quadrupled from2015.
  • The majority of my traffic coming from Pinterest for the second year in a row.
  • This lead to creating Pinterest Presence, my signature course that helps other bloggers and businesses with their Pinterest skills.
  • I finally got on board with having a Facebook page, something I resisted for a while.
  • I intentionally did a total flip-flop on my business model and switched up how I earn income (more below).
  • Creating quarterly goals made a huge, positive impact on being efficient, achieving goals and not getting burnt out.
  • My revenue streams went from two sources to five, which has helped grow my income tremendously.
  • I shaped my income to be more passive, especially when I needed to step away from work for a couple months for personal reasons.
  • I turned down potential business ventures and freelance work to grow my own brand. No regrets!

Personal and business growth

One of the best blog and business achievements I focused on this year was to stop being shy.

Believe In A Budget Review (1)

By opening up myself more, reaching out to fellow bloggers and cutting down on being an introvert, many opportunities opened for me.

I also dreamed big – and managed to achieve every goal I set out to make and then some.

I have a hard time with congratulating myself on hitting goals and tend to always focus on achieving them or setting up a new goal.

When I pulled out my scratch paper of hand written goals for the year, it was weird being able to cross every item off my list.

I worked my butt off this year, primarily in the first six months of the year. This allowed me a lot more freedom the second half of the year. Was it worth it? Yes, absolutely.

Outside of blogging, I worked on various projects. I provided consulting services that were related to my field of work from my “real life”.

I don’t write about my career niche on this website as it doesn’t have anything to do with this blog (it’s a totally different line of work) and I enjoyed the balance between the two.

I continued my side hustles and participated in research studies, surveys and mystery shopping. You can learn more about how all of these helped me earn a nice side income here.

I also became a landlord for the first time on a property I own out of state.

Meh, I’m still undecidedif want to be a landlordor would rather sell the property. I was able to travel for over 3 months this past year, with mypets! Speaking of pets, one of my sweet babies went to to Rainbow Bridge recently (RIP in Sir Elway) and that was hard.

I overcame one of my biggest fears, which was speaking in person. I gave my first in-person speech at an event about personal finance (I was terrified) and I’m so glad I did something that scared the bejeezus out of me. It was a success and I’m glad I can cross that off my list of things to do that scare me 🙂

Iworked up the nerve to start working with fellow bloggers in person. Although we all maintained our own work projects, I realized my productivity and goal-orientation increased dramatically when around fellow entrepreneurs!

My priorities changed

Sources of income

I was able to quit my full time job at the end of 2015 because of my freelance career. At the time, around 90% of my income consisted of freelance work.

I knew I wanted to free up my time as well as make more money, but I was limited to how much money I could make when I had clients.Believe In A Budget Review (2)

While I loved having clients, my time and income was limited. I was frequently turning down clients due to lack of time.

I worked really hard to change this. I created courses, products and grew my passive income.

By summer, I achieved this goal so freelance income was only making up around 10% of my income.

By reducing my freelance work, Iwas able to significantly grow my own blog and business while earning even more income.

Helping others

I receives alot of emails in 2016 from people who need encouragement.

Many readers liked my story on how I got started blogging and grew my income and wanted to know if he or she could do the same.

Many readers had questions about starting a new blog (you can read the step-by-step tutorial here) and whether I thought their blog idea was a good idea.

Others had questions about WordPress or blog ideas.

I was more than happy to answer everyone’s emails. I was new once (and sometimes still feel new!) so I was happy to help.

This lead to starting a private Facebook group where bloggers (or people in the process of starting a blog) can ask questions in a judge-free zone. You can join the Facebook group here.

My top 10 blog posts of the year

In no particular order, these posts performed the best in 2016:

  • Epic List of Side Hustle Ideas
  • 5 Tips for a No Spend Day or Week or Month
  • How to Start a Blog Today
  • Easy Side Hustles
  • How to Organize Your Life
  • My First Blog Income Report
  • How I Made Money from Side Hustles
  • How to Move Across the Country
  • How to Get Over 100,000 Page Views from Pinterest
  • Why You Should Stop Being Scared to Start a Blog

My online income increased

2016 was my first full year of blogging full time. This was a great decision and I have never been happier.

Here all my online income reports from 2016

  • January 2016 online income report $3,640.89
  • February 2016 online income report $3,787.91
  • March 2016 online income report $5,041.85
  • April 2016 online income report $5920.52
  • May 2016 online income report $7,268.68
  • June 2016 online income report $9,700.11
  • July 2016 online income report $9,566.15
  • August 2016 online income report $9,604.90
  • September 2016 online income report $6,682.24
  • October 2016 online income report $7157.04
  • November 2016 online income report $10,736.55
  • December 2016 online income report **coming soon!

My expenses decreased

When I average out my expenses from the past year, they averaged around 3-7% of my monthly income.

Believe In A Budget Review (3)I had very little expenses and I was intentional about this.

My expenses were reduced when I reduced my freelance income.

Let’s be honest.

Freelancing is hard.

Freelancing took up 50% of my time, which meant I needed to use a VA (virtual assistant) to help me get everything done on a daily basis.

Once I reduced my freelance business, I was able to take control of the majority of my tasks.

There is no right or wrong amount to outsource.

I enjoy doing a lot of the work myself, so this was an easy area to save money.

As the year went on, I really became efficient in streamlining my business.

I used this planner 24/7 to stay organized with my personal and professional life. At the same time, I wascompletely comfortable with outsourcing areas that I sucked at doing 🙂

I created products that have completely changed my source of revenue

Creating products was the best thing I could have done for my business. Having my own products allowed me to have more control over my income. I was able to use my products to help many of my readers! I was also able to host joint webinars with fellow bloggers, which helped increase my audience and blog page views.

You can view all my courses and products here:

Webinars

Speaking of which,participating in webinars was one of the hardest things I initially didthis year. I was pretty nervous in my first couple of webinars, but now I feel really comfortable in front of the camera. You can check out my next webinar here.

Various courses, products and books that made an impact

In no particular order, these were some of my favorites from other bloggers:

What’s on the horizon

Finally, I’m in the process of launching atotally different niche site. I’m excited about this because it’s a brand new project for me to work on that I really care about.

I am excited to see what’s in store for 2017.I’m still finalizing my goals for next year and can’t wait to see where this blog and business takes me!

What was your best part of 2016? What are you looking forward to in 2017?

Believe In A Budget Review (2024)

FAQs

What is a budget review? ›

A Project and Budget Review provides a review of:

Any approved or potential changes to the original budget created by scope changes, design modifications, value engineering, or force majeure.

How much did you make blogging for the first year? ›

If you're blogging in a popular and profitable niche, you could be looking at: $30,000 – $50,000 in your first year of blogging. That's around the average income in the USA.

How do you conduct a budget review? ›

Here are some tips on how to do that effectively.
  1. 1 Track your actual spending and income. ...
  2. 2 Analyze the causes and impacts of variances. ...
  3. 3 Review your budget assumptions and parameters. ...
  4. 4 Adjust your budget estimates and allocations. ...
  5. 5 Evaluate your budget performance and progress. ...
  6. 6 Update your budget plan and goals.
Mar 21, 2023

What should I look for when reviewing a budget? ›

How to Evaluate Your Budget
  • Compare Actual vs. Planned Budget.
  • Assess New Income and Expenses.
  • Review Your Financial Goals.
  • Modify Your Budget.
  • Identify and Plug Budget Leaks.
  • Review Your Budget.
Jul 12, 2021

How to make $10,000 a month blogging? ›

The quickest, and most effective strategy for growing a new blog to $10K/month is to sell your own products. Yes, it's possible to get there using advertising or affiliate marketing, but selling your own products provides the shortest path to big revenue numbers – with the least amount of traffic.

How long does it take to make $100 blogging? ›

Earning $100/mo blogging: 6 to 12 months. Earning $1,000/mo blogging: 1 to 2 years. Earning $10,000/mo blogging: 3 to 4 years. Earning $25,000/mo blogging: 4 to 5 years.

How much money does 1,000 views make on Blogger? ›

Ever wondered how much Google AdSense pays per 1000 views? It's a question every blogger asks, and the answer is more complex than you might think. Earnings can vary from $0.5 to $2.5 per 1000 views, but several factors influence this, including your blog's niche, audience location, and ad technicalities.

What is budget review and approval? ›

Budget approval is a critical financial management process that enables businesses to spend money wisely and stay within expense boundaries. Expected sales, seasonal fluctuations, market trends, and business goals are some of the points on which budget planning is done.

Why is the budget review process important? ›

By regularly reviewing your budget, you can compare actual results against projected figures, identify any variances, and take corrective actions as necessary. This process allows you to maintain a firm grasp on your company's financial health, ensuring that it stays on track to achieve its goals.

What is a monthly budget review? ›

Monthly Budget Review

Those Monthly Budget Reviews, which are based on information from the Treasury Department, provide information on the monthly status of outlays, receipts, and the deficit or surplus.

Why is it necessary to review your budget? ›

Budgeting allows you to rethink your spending habits and refocus your financial goals. Taking a look at your expenses, you may see that one month, you spent more money on eating out than cooking at home. By reviewing your budget, you can make effective changes as a result.

Top Articles
Latest Posts
Article information

Author: Nathanael Baumbach

Last Updated:

Views: 5249

Rating: 4.4 / 5 (75 voted)

Reviews: 82% of readers found this page helpful

Author information

Name: Nathanael Baumbach

Birthday: 1998-12-02

Address: Apt. 829 751 Glover View, West Orlando, IN 22436

Phone: +901025288581

Job: Internal IT Coordinator

Hobby: Gunsmithing, Motor sports, Flying, Skiing, Hooping, Lego building, Ice skating

Introduction: My name is Nathanael Baumbach, I am a fantastic, nice, victorious, brave, healthy, cute, glorious person who loves writing and wants to share my knowledge and understanding with you.