I don’t care if you’ve been blogging for five minutes, five months, or five years, you need to be tracking your blogging finances!
If you are consistently keeping track of the money coming in and out of your blog, you’ll know what strategies are and aren’t working.
Not to mention when tax season rolls around and you haven’t been keeping track of your money from the past year, things are going to be A LOT more difficult and extremely time consuming.
So what’s the best way to keep track of all your blogs finances? Well you’ve got some options!
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A Simple Spreadsheet
One of the easiest and most common ways to keep track of your blogging income is putting together a spreadsheet in Microsoft Excel or Google Sheets.
It’s not overly complicated if you’re not the most tech savvy person in the world and keeps everything organized.
You simply log all of your incoming and outgoing expenses as they come and go and you’ll know exactly how many profits you’ve made.
Personal Finance Software
A slightly more complex way of tracking your blog income that allows you to do a lot more things effortlessly, is the use of personal finance software such as You Need A Budget.
With this software, all you have to do is enter your income and expenditures, and it will keep track of things for you. Allowing you to download all of the data later on. So come tax day, you have everything ready and waiting for you and you can get your taxes filed extra quick!
Some personal finance apps will even allow you to connect your bank account to them so that everything that goes in and out of the account is automatically logged. (Pssssst Clarity Money will do that for you! Plus you’ll get $3 for free once you connect your bank account!)
If you have a business bank account set up for your blog this makes things even easier because you don’t have to input any data yourself!
What a time saver!
Pay Stub Generators
If you ever use outside contractors, such as freelance web designers to do work related to your blog, check pay stub maker. It’s an excellent way to keep track of your blog related business expenses very easily.
You can also use it to keep track of things like freelance income that may not be formerly organized by a company.
Simply generate and print the stubs, file them away, and when you need them they’ll be ready and waiting for you.
The Old Fashioned Way
Pen and paper baby!
And yes this is a method I use and love!
I recommend having both an online form and a written form of tracking your income so no matter what you always have access to those numbers.
Grab a binder, some paper, and colorful pens and highlighters and keep track of all your monthly income and expenses.
It’s soooo important to make sure you stay on top of your finances as a pro blogger . If you start to get behind it will be that much more difficult to catch up! And small expenses or streams of income could be missed in the process.
This could lead to you paying too much or too little tax on your earnings. Neither of which is a good position to be in.
So find the method (or methods) that work for you, and stay on top of your finances!
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