Being a freelancer means I have no hourly wage to count on, at least for the majority of the time. I have thought long and hard about my worth, and what I am actually making if I was being paid by the hour. After making a list of things to be considered when calculating my worth, I came out to a final number for an hourly wage. This is how I came up with the number, and why it works.
If I am not distracted, I can easily write a 400 word article in 20 minutes. I try to prep my articles ahead of time by using outlines, which allows for better time management. The preparation of articles takes anywhere from five minutes to an hour depending on the topic. On average, I work about 20 hours a week, including everything from start to finish.
Type of work
I have several types of clients that I do work for, and most are on a weekly basis. Typically I write seven 400-word articles a week, which averages out to be around 2.5 hours worked. Twice a month I am given three articles at a time to be used for niche websites. This can include anything from the top five types of lipstick, to the best mattress for someone with back problems. Those are all 800-words, and typically take me about an hour to write. That adds about 3 more hours of work for me bi-weekly, and a little more money in my pocket.
I make anywhere from $4 to $20 for my pieces. Occasionally there are higher offers, but those are not typical. A "good week" for me is making anywhere from $250 to $400, depending on the amount of work. There are plenty of bad weeks in between, so to be fair I used $250 as my "weekly amount earned" when calculating my hourly rate.
After doing all the math and considering the factors I broke down, I realized that I make $12.50 an hour. While that my seem like a very little amount of money to some, it is a decent wage for a stay-at-home mom. In fact, it is 50 cents more than I was making at my last job outside of the home.
Any money made is a bonus, and looking at my hourly rate has helped me realize I can do more. Making $3 more than minimum wage while staying home with my kids is a nice bonus.
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