Jerry Banfield’s Income Report for February 2019.

Welcome to the Jerry Banfield 2019 February Income and Expenses report. I share this because I love seeing inside other people’s money. I think it’s really helpful for us to get open and honest and talk about our money. I am grateful for the chance to serve you today.

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I’ve been doing these income reports for years. I’m finally back to doing them every month. I imagine if you’d like to see these every month you’ll check for a new Income and Expense report at the beginning of each month.

It’s the beginning of March, therefore, time to give you the February 2019 Income and Expense report. I show you inside the numbers on my bank accounts right here to begin.

These are the balances I’ve got on my bank accounts right here. Last month I had a few thousand net balance of cash. Now, you’ll notice that I actually just slipped back into debt for the first time since 2015. I actually have less money than I owe. I’ve got $10,781.72. The main balance is in one particular personal checking account then I have my business checking account also.

I just transferred $6,000 out of the business checking into the personal checking.

On my amount owed I’ve got $23, 580.53, the majority of that on my business credit card. I’ll show you the numbers that produce this. Therefore, that’s a net of approximately $13,000 in debt. And today I’m very grateful that I’m comfortable with that.

I am seeing the time is now to spend the money on paying for help to build my business and if that means borrowing a bit of money to do it that’s great. And I also am not willing to stop being generous and giving people nice tips and taking care of myself just because I need to borrow a little bit of money. I see that I’ve massive income earning potential and if I need a little help borrowing some money that’s no big deal. I’ve got a very concrete plan to get out of it which I will talk to you about right now. 

First, the GoFundMe project.

I’m doing a Student Loans ‘Win The Game Together‘ GoFundMe project where I am asking for help giving donations directly to pay off our student loans for us. Some people have expressed how awful this is. How dare I ask for this?How can you ask for this after all the money you’ve made?

I’m asking for it because this is a public relations stunt you could say and to give people hope in student loans. This is to show people that there’s a different way to play the game. That we can work together.

This is setting up for videos and in the future maybe even a book that I will do about this; a video course. It’s showing that there’s something different possible. That we don’t just need to grind hard, play the game of money by ourselves, refuse to ask for help, and not talk about it. That instead we can just ask for help and people are generous and kind and willing to help us.

I’m grateful we’ve got over $1,000 in donations on this which we used to make about half of our student loan payments. I’m extremely grateful for that.

If you’d like to help me out, this GoFundMe project is the very best way to do it. Because I’m imagining completing this project and it will be a huge thing worth talking about. That, “Oh my god, someone put up a GoFundMe project and people paid off almost $200,000 of their student loans?

I imagine lots of people might be outraged about it like, “That is disgusting. That’s terrible. People are stupid.” And what I’ve done is I’ve pledged to give five times whatever we get to others. I’m imagining paying off more than a million dollars of other people’s student loans. You might say I’m delusional with $13,000 in net debt over the cash versus credit.

You might say that, “How are you going to turn $1 into $5?

I’ve got a lot of ideas on that.

We’ll go into showing you the business income and expenses now and I’ll explain why it’s like this.

So for February 2019, we have the Jerry Banfield profit and loss. We’ve got $6,206 in income earned. The primary income was over $1,000 from Skillshare, over $1,000 selling video course on StackCommerce and about $1,000 from Patreon and a few thousand more dollars from things like YouTube Ad revenue, Facebook donations, and subscriptions. All that added up to $6,206 in income.

I’ve just gone through a massive pivot in my business. Actually, several big shifts in my business. I was doing crypto for a year, a year and a half, two years before. I switched into doing music for a while, I switched into doing video games after that and now this year I’ve gone all-in on It’s a teaching, complete business system. From free offers to email marketing. It has a membership program, affiliate marketing, you can sell services, upload video courses. This is my income plan, so to speak. I imagine Uthena making a lot of money for everyone who participates because it gives massive value to students.

I am letting people enroll for free in courses that, as you’ll go down here in the contract labor and see, I’ve spent $8,500 in February 2019 paying freelancers on Upwork to make me video courses on in-demand subjects and I am then giving those courses away totally for free on which builds up a big email list which then is very attractive.

If you join up and put your course on Uthena, you’ve got a free promotion system to already 10,000 plus students in the first month that we’ve rebranded and moved the old University of Jerry Banfield into Uthena. We are getting hundreds of new students every single day already even though I just started this. We are building a massive email list that will be extremely attractive to join and start your business system on.

This requires spending the money upfront. It also is involving me putting these video courses out for free on YouTube. I am so grateful that after years of not having a video top that ‘Start Hacking Today, I just released a video on February 2019 that finally is already pulling about half the views that the top video on my channel is pulling. This is really good and I’m going to do this over and over again.

Also in the contract labor, I spent thousands of dollars paying for graphic design, video editing, and blog posts and help for my website and my business.

Finally, after years I have the business of my dreams. I literally step up, film videos and everything else is now taken care of.

I literally just send the video off to James E. Brooks who is a Uthena partner, He watches my videos, makes sure I don’t totally say something that’s really stupid or moronic that you’re going to hate. He edits them, puts little endings on them and does that with all the videos I pay for. He also puts those up on my YouTube channel and same thing with the gaming videos.

I’m so grateful for this. Wow.

That also requires spending the money out now. Because I read in ‘You Are a Badass at Making Money’, there was a very concrete case study that hit me, if you want to build your business you need to stop trying to do your entire business by yourself.

Several case studies of where people hired others to help them and then their business grows massively. I’m seeing already extremely good growth from what we’re doing so far.

Total amount, -$8,000. That means I spent $8,000 to do my business in February 2019. That’s the opposite of earning $8,000. That’s $16,000 different from earning $8,000.

Imagine if you went to work and they said, “Well, you need to pay to go to work this month.” Would you do that?

That’s why a lot of people don’t want to become entrepreneurs. However, I’ve been sharing and talking about this. This isn’t something I’m doing in secret obviously. I’m talking about this and the consistent reply I’m getting is, “You got to spend money to make money.” I’m so grateful to do these income reports for you as well. Because I imagine showing you absurdly high-profit numbers in the future that you’re just going to be dumbfounded by. I am less rooted in what I see right now than what I imagine.

I’m imagining having hundreds of thousands of dollars in income come in in a month relatively soon and then you’ll be like, “Oh my god, this guy’s making a fortune.” And I can go back and point to this video and say, “Here’s how I did it. I spent money. I got uncomfortable. I spent thousands of dollars. I borrowed and borrowed money so that I could set all this up right where I’ve got everything in position.

What’s cool is the confidence I have with this. It reminds me of when I got going on Udemy four and a half years ago and I went all-in on it and I spent every single dollar I could borrow. And right when I’d spent until the whole thing was about to fall down, the income came in. From $1,000 a month to a year later having a month where it was $40,000 or $50,000 in one year. And we’re on that same path today. Because, same thing as before, I’m setting up a system that helps give ridiculous value out to other people.

Brand new educational tutorials on in-demand subjects totally for free. That is ridiculous value, and when you give a lot you get a lot.

I also have been doing a new little tipping policy.

My wife actually just took all the money out of my wallet after I told her this.

I’ve been getting $400 a week out of the ATM and seeing if I can give all of that away in a week.

And I also have a new policy. I will not carry small bills in my wallet. It’s only $20 bills or higher in my wallet.

I will no longer carry ones, fives, tens, I’m not interested in having those little bills. Someone else can have those that cares about them more than me.

This means I go up to pay and I give a $20. It’s $3? You can have a $17 tip. I don’t need that. I go in AA, this has been uncomfortable, the basket comes around, I’m like, “My $20 in here. I’m not taking out $18 in change. I’m just going to put the whole $20 in.

I see that you act as if and then it comes to fruition. I’m imagining when I’ve got a million dollars in the bank I’ll behave the same way.

So guess what? You start acting that way first. And I love giving people big tips. The cashier at Publix was blown away when I bought $3 of cough drops and just walked out and left the $17 dollars with her. I gave her the $20, started walking off. She’s like, “Your receipt and your change?” I’m like, “No, thank you. You can have that. I don’t keep small bills in my wallet so you can have all that.” She was like mouth open.

I love that. That’s so cool to show people that life isn’t how you think it is. That life is abundant. It’s wonderful. When we help each other with money it’s awesome.

I’ve got a family member who thinks I’m totally delusional. That I should be flipping, that I should be panicking, that this is crazy. And I intend to go get some more credit. I’ve got $50,000 total I can run up on this one business credit card so I’m going to start applying for some more business credit cards and take all the loans I can get.

If you’ve got a suggestion for where’s the best place for me to borrow a business loan, I would love 12% or lower interest. My business credit card has 12% interest on it.

So if you want to loan me the money yourself, I’m very happy to pay that back as well.

I have over 800 credit score. I’ve been doing this for a while. I always pay off my debts which is why I’m not afraid of borrowing money. Because I know I always pay my debts off because I’m also certain when I help you and the people around you, you’ll help me too.

Thank you very much for watching this or listening to it on my podcast or reading it on my blog.

I love you.

You’re awesome.

I’m grateful for the chance to serve you today. This has been an income report and debt report for Jerry Banfield’s business profit and loss in February 2019.

If you’d like to see the March one, that’ll be out at the beginning of April. I love you. You’re awesome. Thank you for giving me the chance to serve you today and I will see you again in April.

You’re going to really want to know how this works out, aren’t you?


Jerry Banfield