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HoJo's 2020 Income Report by %

For years I have looked at bloggers outside of our niche and LOVED reading their -often- monthly income reports. I don't view it as a competition, but rather as looking up to inspirational people. To think people go from literally nothing to hundreds to thousands to sometimes even much more income per month is completely fascinating to me.


I've always wished Teachers Pay Teachers sellers would share their income reports. Yet I also understand why they don't.


Just like other TpTers, I've never found a good way to share my own income. After all, as TpT sellers, we are earning our money typically from hard-working -and generally underpaid- teachers. It just simply didn't feel write to share income reports. Until now!


I think I've found a way to share my income without truly sharing my income. I hope the images and information below is helpful to other TpT sellers. It gives you a chance to see how you and I compare - from a percentage standpoint.


Please note that there are affiliate links in this blog post. The Academic VA is a DBA of HoJo's Teaching Adventures, LLC. You can read our entire disclosure statement here


Before I get started, did you know I send out a weekly newsletter specifically for teacherpreneurs? It's true! You'll get at least one free download a week, tips and ideas to help you implement new trends or important things right away, as well as random thoughts from someone who has been on TpT since 2009 - ME! Sign up here!

2020 Income

Let's get started with my 2020 income. As you can see, a vast majority of it came from TpT. I'm working to change this, but we all know diversifying your income streams in NOT something that happens overnight.

HoJo 2020 Income by Percentages

2020 Expenses

Below are my expenses. You can see that my own personal payroll took up 30%, and then the money the business puts into my SEP IRA for investments took another 7%. 

The TpT commission took up 18% of my overall expenses. For those of you who don't yet make $20K/year on TpT to get a 1099 from them, they show your total sales on that form. Then you need to deduct the commission as an expense. That is what is reflected below. (I've always found it odd that this money never even crosses my "desk", yet I still claim it. But that's how it works.) 

Outside services - like virtual assistants - cost me quite a bit each year. This number is a bit high in my opinion, yet also justifiable to me. My primary goal when I left my admin job in the spring of 2015 was to be a mom. Yes, I also wanted to work on this business, but I hire out a lot to be able to fully enjoy time with my kids. 

And - if I'm being perfectly honest - I struggle with some of the more monotonous tasks when my kids are around. I will forget what puzzle piece I was cropping and end up doing the same thing 2-3 times - so I figure it's a better use of my time and money to hire others. Plus this upfront investment should pay for itself multiple times over as the resources they help me make sell for many years. Hopefully I need less outside help as my store grows, but I guess I don't know exactly what the future will hold... 

(I added about 50 new resources in 2020, but we worked a LOT on making items digital - which requires a LOT of puzzle piece cropping for my store...)

I'm actually surprised that my advertising expense was 9%. I've always aimed for about 5% and planned to up that to 10% in 2021, but maybe I was already closer than I thought...

None of the other areas were super surprising to me, BUT keep in mind that your percentages could look quite a bit different than mine. Every business is going to look different. Heck - my own business will probably look different next year!

HoJo 2020 Expenses by Percentages

Profit First

Now please do NOT think that I'm saying my numbers are the "right" numbers because I am NOT. Honestly, I don't know that there are truly any "right" percentages for a business. But I know ever since I read the book Profit First that I have tried to align with the numbers Mike shares. 

You can get an overview of the book here. Or go here and look at Figure 4 to see where I ultimately hope my numbers align. 

This chart below shows how I compared to Mike's graph. The whole tax situation is something I'm still trying to get right with our new accountant. I have a feeling that number will align more in the coming year. (I fired my last accountant mid-2020, and the new guy and I are still working out a few things.) 

But as I stated above, I knew my expenses are a bit high - therefore meaning my own compensation is a bit low. With that being said, the S Corp did give me a raise in November 2020. (I jokingly tell people that my boss realized I was worth more. HA!) So I anticipate the numbers getting closer to Mike's in the coming years, but I also don't think I'm doing all bad! 

(And yes, I realize my numbers only equal 99%. #DangRounding) 

HoJo compared to Profit First percentages

I would LOVE if you shared your Profit First percentages in the comments below! Or let me know what other thoughts you have about the information above! Was this helpful? Do you think it was in bad taste? Please be honest! I can handle it. :) 

Tracking Income and Expenses as a TpT Seller

Many of the teacherpreneurs I know will say things like, "I'm a teacher, not a business person!" But I have realized - even if it took me awhile - that we tend to do better on TpT when we start treating it like a business. Which is why today I want to share with you how to track income and expenses as a TpT seller.


Scroll down to watch my video, get my FREE income and expense spreadsheets, and see another helpful link that helps me track other important business items. 


Please remember, I am NOT a business expert. I am NOT an accountant. And I can NOT possibly fully understand your business. This is what works for me, and I want to give you the editable tools to tweak my system to make it work for you. 


Tracking income and expenses as a TpT seller

My Income and Expense Tracking Video


Here is an eight minute video walking you through the system I use. I'm also writing a bit about it below, but I think it'll be better to see it. Watch it on 2x the speed if you're short on time. :) 


The BIG Secret


Set up a new email address. Yes, I know....NONE of us want another email to check. But this email serves a purpose. It houses ALL of your business money so you can focus more on other things. And you do not use it for ANYTHING else. The only emails coming in this way are for YOU, your bookkeeper (if you have one), possibly your tax person, and maybe the IRS if you were to ever be audited. 


As income comes in or money goes out - forward that email, take a picture of that receipt, or log those miles traveled. This way you can quickly and easily put the information into an email and send it over to that new email address. 


Then once a month you can log into your email, put everything into the appropriate places on the spreadsheet, transfer them over to your year-end data, and you're done.


At year end, I print the last page and send it to my accountant. 


For the last three years I have had all my business taxes ready to go by January 5th - other than waiting for official tax documents I need. But at least everything that I have to do is done! 


Here are free downloads of my Google Spreadsheet for my income and expenses. You may have to tweak the categories a bit to ensure they make sense for YOUR business. 


Blank Expenses Spreadsheet

Blank Income Spreadsheet


I also own this item from TpT. I do use many aspects of it, but the income and expenses part were too much for me. I'm all about keeping things as simple as possible! But Kristen has done an amazing job of creating so many ways for TpT sellers to analyze data and plan with this great download


If you have any questions about my system, feel free to ask them below. I will do my best to answer them!


Want weekly tips, a free download, and great information about TpT?
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Thanks for being here!
~Heather aka HoJo~

Your Mind and TpT

 This post is going to be a bit different than anything I have written before, but it was a very powerful "aha!" moment for me - and I hope it does the same for you! Your mind and TpT!

Below I am going to pose some questions for you. Please answer each one - either in your head, out loud, or even on paper - before moving on through the post. Pretty simple, yet super powerful! =)


How much money do I currently make in a year on TpT?


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Now that you have that answer, let's keep going. Your second question is below.

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Why not double that amount in the next year?

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What thought did you have? The first thought - the one that came to you automatically.

Is this thought true? Totally true? 

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My initial thought was, "I don't have enough time. The kids are still home quite a bit, and I don't get enough time to put in the hours I need."

As soon as I had that thought, I literally said "whoa" out loud.

That is NOT true!

Yes, my kids are still home a bit. We have a 4-day school week here, so they are both home every Friday. And my youngest only goes to preschool two mornings a week. 

But my kids are NOT the reason I couldn't double my TpT business in a year if I really put my mind to it. 

If I am being really honest with myself, I waste too much time on social media. I don't always follow my plan like I say I will. I've taken more "me time" in the last few months than I normally have in the past. I could certainly hire out more help. I could run more ads. There are so many ways I could double my business in a year - yet that initial thought may very well be holding me back.

What was your initial thought? Did you have an "aha!" moment like I did? 

Because if we are truly honest with ourselves, plenty of other TpTers can double their money in a year - even when they still work full-time in the classroom. Even when they have multiple kids at home. Even while pregnant. Even while dealing with tragedy, natural disasters, or other massive life changes.

This does NOT mean you need to double your money in a year. But if that was a goal you truly wanted to attain, your thoughts could be holding you back.

So what TpT goal do YOU really want?

What thought comes to mind for you when you reach that goal?

THAT thought could be holding you back.
(Or maybe your thought is amazing and you'll reach the goal in half the time!)

Our thoughts are truly powerful. And once we recognize them, we can do the work to change them. The work is not always easy, but recognizing our thoughts is the first step. =)

If you found this post about Your Mind and TpT helpful, please share it with a friend or help spread the word by pinning the image below.

Your Mind & TpT - Are you holding yourself back?

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