So you know what your freelance dream goal costs and have set up some boundaries around how many hours you want to work. Now it’s time to do the math. (Side note, do this even if you’ve already got an hourly rate. You might be surprised at what you find.

Take the dollar amount (or the monthly equivalent) and divide it by the hours you want to work each month.

Cost of My Dream (hourly)

Monthly hours

Here’s an example. If I wanted to bring in an extra $24K per year to dedicate to my student loans, and I knew I could work 20 hours a month, this is what my math would look like.

$2,000

20

That’s $100/hr. And that $100? That’s a minimum number (because expenses, taxes, etc.)

If your number seems high and unattainable, don’t worry. You don’t have to start making it tomorrow. You do though, need to keep it in mind when you’re refining your niche and your skill set and establishing your rates. (Remember your minimum hourly rate.)

I want to ask you to do one thing this week…if your number came in under $75/hr, or over $300, shoot me an email so we can talk about how to get you to a sustainable number that meets your goals.

Next week we’re doing the self-assessment, so take a few minutes with yours this week!

Megan

Here are the resources that you’ll want to check out this month…