![]() Let’s estimate that at 10 hours per week. If you feel burned out, you can always readjust this number to be lower.ĥ. Now subtract how many hours per week you’ll need to deal with administrative and marketing tasks like checking emails, calling prospective clients, etc. If you’re not sure how much you want to work, start with 30 hours per week. The other 10-20 hours are spent interacting with coworkers, crying in the restroom, and waiting in line at the Starbucks around the corner. However, you are usually only actually working for 20-30 hours of that time. The typical American workweek is 40 hours per week. This is how much you need to make per week to meet your salary goal.Ĥ. Now divide that number by how many hours you will work in a week. Will you take 2 weeks of vacation, or 4? Divide your yearly salary by the number of weeks per year you will work. ![]() Now think about how many weeks per year you will work. For non-Americans, consult with an accountant about how much you should be saving for taxes.ģ. Multiply that by twelve to find your yearly salary goal. This is your personal income.Ģ. For Americans, add 15% to your personal income to find out how much additional you need to make to pay taxes. You can figure out the total by adding up all of your expenses that fall into the needs column, then doubling that to find how much you’ll have available for wants and savings. A good rule of thumb in personal finance is to calculate by the 50/30/20 rule:ĥ0% for needs: rent/mortgage, car payment, utility bills, student loan payments, credit card payments, groceries, etc.ģ0% for wants: clothing, beauty & grooming services, travel, etc.Ģ0% for savings: paying off high-interest debt, creating an emergency fund, saving for retirement (If you’re more established and need a different formula to account for those expenses, leave a comment below and I’ll write a post about it.)ġ. Figure out how much you need to make to not only make ends meet, but thrive. Please keep in mind that this is a basic formula for new freelancers who don’t have a lot of business expenses like website hosting, advertising, subcontractors, etc. I have a simple formula for figuring out freelance writer rates. OK, so, how much should you charge? Don’t worry, buddies. Employers on job boards are able to pay less because, by posting on job boards, they attract many potential candidates who will accept lower and lower rates just to get the job. ![]() Why? Because the salaries you see on freelance writing job boards are not indicative of how much money you can make as a freelance writer. It’s definitely for you! If you want to charge higher freelance writer rates, you certainly can do so. This doesn’t mean that freelance writing isn’t for you. ![]() However, your lifestyle may require quite a lot more funding than a $10-per-hour job can provide. After all, the cost of living can vary dramatically depending on where you live. Now, to some people, $10 per hour may sound like a good salary. You know, all those jobs that pay $10 per hour. If you are an aspiring freelance writer, you’ve probably already visited the most popular boards for getting freelance writing jobs and you’ve seen the salaries that are offered there. Namely, you don’t need to accept peanuts for your work. I want to clear up a common misconception about setting your freelance writer rates. FORGET EVERYTHING YOU’VE READ ABOUT FREELANCE WRITER RATES ![]()
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