2016 Finance Report

Everything I Earned And Spent In 2016

If you’re a regular visitor here you’ll know that I’ve been tracking all my income and expenditure since I quit my day job at the end of 2010, and sharing detailed monthly finance reports with my email subscribers.

Below I’ll share with you a summary of all my income and expenses from 2016.



Total Income€ 36,479
$ 40,405
Total Expenses€ 36,666
$ 40,616
Profit/Loss€ 187
$ 211
3M1K 1€ 18,581$ 20,657
Freelance web development 2€ 14,013$ 15,504
Affiliate income 3€ 932$ 1,029
Other refunds 4€ 787$ 828
VAT refunds 5€ 594$ 660
Coaching 6€ 379$ 411
Book sales (via Amazon) 7€ 295$ 325
Google Adsense 8€ 238$ 264
Sale of personal possessions 9€ 195$ 216
Personal tax refund 10€ 137$ 153
Loose change 11€ 109$ 121
Books sales (via ndoherty.com) 12€ 106$ 115
Credit card cash rewards 13€ 63$ 69
Cash gifts 14€ 50$ 53
Total Income€ 36,479
$ 40,405
Last Year€ 33,469$ 36,831


All Expenses

Business Expenses€ 15,015$ 16,645
Housing & Utilities 15€ 9,420$ 10,439
Food & Drink€ 4,405$ 4,865
Travel & Transport€ 3,312$ 3,674
Miscellaneous€ 1,483$ 1,633
Insurance 16€ 1,219$ 1,349
Clothing€ 650$ 717
Personal Taxes 17€ 394$ 449
Gifts & Donations€ 370$ 407
Books 18€ 154$ 170
TV, Movies & Cinema€ 117$ 129
Toiletries€ 115$ 128
Laundry 19€ 12$ 14
Total Expenses
€ 36,666
$ 40,616
Last Year€ 29,601$ 32,555

Business Expenses

Outsourcing 20€ 3,791$ 4,166
Accountant 21€ 3,198$ 3,566
Taxes€ 1,997$ 2,227
iPhone 6s€ 645$ 725
PayPal fees€ 502$ 557
Miscellaneous€ 435$ 485
ActiveCampaign mailing list software€ 451$ 499
Chase Sapphire Reserve annual fee 22€ 400$ 450
Stripe fees 23€ 398$ 445
The Subtle Art Of Not Giving A F*ck (25 Copies) 24€ 308$ 343
Coworking 25€ 289$ 312
LLC setup 26€ 263$ 293
3M1K refunds 27€ 253$ 287
Postage 28€ 225$ 247
MemberMouse 29€ 219$ 242
Phone credit€ 201$ 223
Miscellaneous hardware & equipment 30€ 191$ 213
Teamwork project management software 31€ 186$ 205
Thrive software 32€ 145$ 160
Domains/hosting 33€ 140$ 151
Amazon gift cards 34€ 143$ 150
Epidemic Sound 35€ 129$ 144
TransferWise fees 36€ 91$ 99
iDevAffiliate affiliate software 37€ 82$ 89
Virtual Post Mail 38€ 76$ 84
Upwork fees 39€ 72$ 82
Notary 40€ 58$ 65
3M1K affiliate payout 41€ 49$ 55
Skype credit€ 28$ 31
Google Drive storage€ 24$ 24
Amazon Web Services (more storage)€ 14$ 14
Gumroad fees 42€ 12$ 12
Total€ 15,015$ 16,645
Last Year€ 5,442$ 5,988

Fancy Graphs

Non-Business Expenses Breakdown (USD)

Business Expenses Breakdown (USD)

Income Breakdown (USD)

Income Vs. Expenses (USD)

Other Numbers Of Interest

Money spent per day in 2016€ 100.18$ 110.97
Money earned per day in 2016€ 99.66$ 110.40
Lowest income month (January)€ 54$ 59
Highest income month (May)€ 6,487$ 7,243
Most expensive month (May)€ 3,954$ 4,415
Least expensive month (December)€ 1,995$ 2,099

Monthly Profit/Loss

Here’s how I did throughout 2016 in terms of profit and loss:

January€ 3,056$ 3,327
February€ 304$ 330
March€ 307$ 349
April€ 63$ 72
May€ 2,533$ 2,828
June€ 465$ 518
July€ 1,276$ 1,425
August€ 621$ 692
September€ 412$ 463
October€ 1,399$ 1,536
November€ 226$ 240
December€ 1,995$ 2,099
Overall Profit/Loss€ 187
$ 213

A Few Photos From 2016

An April evening in Amsterdam.

International Pillow Fight Day in Amsterdam’s Dam Square

A surreal scene at Keukenhof in the Netherlands.

Dutching it up a bit.

Wedding celebration in New Orleans.

Falling from the sky.

Exploring an abandoned NSA spy station on the outskirts of Berlin with Kevin Koskella

With my brother-from-another-mother after 19km of madness.

Apartment I sublet in Tenerife.

Speaking at Nomad City (video of my talk here)

New favorite thing 🙂

At the VIP lounge at LPA.

A Christmas Day stroll on an Irish country road.

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Curious as to how I track everything I earn and spend? Check this video…



  1. This is my premium course that teaches people how to start an online freelancing business.
  2. My bread and butter. Took a bit of a back seat this year since I was spending a lot of time building and running 3M1K. <br /><br />You can find links and details for my latest web dev projects here.
  3. My biggest affiliate payments came from:<ul><li><a href=”https://freelancetowin.com/ssfu-course/?ref=5″ target=”_blank”>Secrets Of A Six-Figure Upworker</a></li><li><a href=”http://ndoherty.com/recommends/authority-hacker/” target=”_blank”>Authority Hacker Pro</a></li><li><a href=”http://ndoherty.com/recommends/aweber/” target=”_blank”>AWeber</a></li></ul>
  4. The big one here was the $775 refund for a Wandering Earl tour in Myanmar that was canceled.
  5. From my now-dormant Irish business. (I moved my business operations to the USA midway through the year as it works out much cheaper.)
  6. I don’t proactively seek coaching work, but occasionally people reach out and ask for it and I’m happy to oblige.
  7. I currently have two books for sale on Amazon:<ul><li><a href=”http://amzn.to/2aQDUxf” target=”_blank”>The Cargo Ship Diaries</a></li><li><a href=”http://amzn.to/2axMNxQ” target=”_blank”>Disrupting the Rabblement</a></li></ul>
  8. This comes from ads on my videos on YouTube, which racked up 239,100 views in 2016. That’s about €1 per 1000 views.
  9. Sold some stuff when I left Amsterdam, a bicycle when I left Berlin, etc.
  10. This was a city tax I was refunded when I left Amsterdam.
  11. Cashed in a big jar of loose change when I left Amsterdam.
  12. The Cargo Ship Diaries can be bought directly through this website.
  13. Cashed in some points on my old Chase credit card.
  14. From family at Christmas.
  15. I was paying rent of €1,150/month in Amsterdam, saved a lot by moving out of there in July.
  16. I had international health insurance through VHI in Ireland for most of the year, but switched to World Nomads travel insurance in December. The latter costs much less while still giving me solid coverage.
  17. Quite low, right? This is on account of me not living long enough in any one place to be considered a resident for tax purposes.
  18. You can see all my book recommendations and what I’m currently reading over on Goodreads.
  19. I don’t think I paid for laundry since leaving Amsterdam in July. The apartments I’ve stayed in since have had laundry supplies for me to use free of charge.
  20. I have an assistant helping me with 3M1K and I also hire some other freelancers every now and then to help me out with various projects.
  21. When I still had my business operations in Ireland, I was paying an accountant there €82/week to manage everything for me. Moving operations to the USA thankfully killed this expense.
  22. Quite a high annual fee for a credit card, but it gives me $300 of annual travel credit plus access to airport VIP lounges, and the points I accumulate through normal spending on the card add up to a few additional hundred dollars of free travel each year. Totally worth it.
  23. I was using Stripe to process credit card payments for 3M1K, but switched to Braintree during the year. No fees with the latter.
  24. This was for a book giveaway I ran in September. Not sure it was worth the time and effort.
  25. At the end of October I moved to the Canary Islands and tried coworking for the first time. Now I’m hooked. Here’s a video I made about my experience coworking in Tenerife. I finished the year coworking at CoworkingC in Las Palmas de Gran Canaria.
  26. This was to register my business in the USA. The guys at Flag Theory set everything up for me and I was happy with their service.
  27. $287 of refunds on $20k of sales. Pretty good going :-)
  28. Most of this expense came from shipping books to the winners of the Subtle Art contest noted above.
  29. This is the software I use for the 3M1K membership site.
  30. A new charger for my MacBook, some video equipment, that kind of stuff.
  31. Very useful for keeping freelance projects organized. I use it for some personal projects, too.
  32. In particular:<ul><li><a href=”http://ndoherty.com/recommends/thrive-leads/” target=”_blank”>Thrive Leads</a></li><li><a href=”http://ndoherty.com/recommends/thrive-landing-pages/” target=”_blank”>Thrive Landing Pages</a></li><li><a href=”http://ndoherty.com/recommends/thrive-content-builder/” target=”_blank”>Thrive Content Builder</a></li></ul>
  33. Mostly on Dreamhost.
  34. One for a giveaway during my Nomad City Talk, and another as a Christmas gift/bonus for my VA.
  35. I use this service to find funky music for my YouTube videos.
  36. Some freelance clients pay me via TransferWise and I lose a bit in the transfer. Still way better than PayPal though.
  37. This software runs the 3M1K affiliate program, which I haven’t promoted very much. Sign up and you’ll receive $49 for every sale you refer.
  38. This service allows me to receive old-fashioned mail in the USA without having a physical address there. They scan any mail received and email it to me, and can also forward along any important documents to another address I specify.
  39. Sometimes I find freelance work through Upwork, and they take a cut of any payments I receive there.
  40. Needed to hire a notary to complete the setup of my US LLC.
  41. As noted above, the 3M1K affiliate program pays out $49 for every sale you refer.
  42. I use Gumroad to process sales of The Cargo Ship Diaries direct from this website.

1 Comment

  1. Dragan

    Great photos 😀


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