In August 2018 I finally decided to register One Drink A Day as a business. End of the financial year was June 30th, so I painstakingly went over all my physical receipts, online tax invoices, and calculated how much money I made and spent. I thought this article would be interesting as I don’t think many people think about the costs associated with producing content (baby content)/running an IG page (original content).
Money I made through from August 2018 – June 2019 equated to $6573 Australian dollars.
- Social media campaigns
- Selling my own merchandise
Expenses from August 2018 – June 2019 equated to 8873 Australian dollars.
- Website management costs
- Equipment : glassware, knives, shakers, etc
- Travel + accomodation for travel
- Producing merchandise
7 months worth of receipts….. FUCK I hated going through them all.
As you can see I actually made a loss (I should have accepted that teeth whitening campaign when I had the chance hahah) but luckily I have another stable job which lifts this financial burden. It’s been super interesting to see exactly where my money was going and how much was being made. Even if you don’t run a ‘business’ try calculating how much you actually spend on your social media, it may surprise you.
I’m grateful I was able to take on a few sponsored campaigns to recoup a portion of expenses. To be honest a couple of thousand dollars over 7 months is an expense I can take if it means I can keep producing content that (hopefully) you guys love. Slash it helps with deductions when doing your taxes 🙂