So you have decided on leaving your job and become a freelance worker. It is a good idea indeed, having control over the time and kind of work you will do and have the potential to earn more than what you receive as a company employee. Becoming a freelancer means you can set your own price on projects you choose but this is where new freelancers often falls into the trap of pricing themselves too low.
Some things to take note are the cost of working at home. You might not need to go outside and drive a car or take a cab but you are now consuming more electricity and other utilities. All the time you use are not billable hours so you have to check how much is the expenses added since you started working at home. You have to set a price that will let you pay your bills on time.
I have seen listings on many job sites offering less than a dollar per hour for a full time work! Imagine you are applying for this work. Even if the work is easy, you have to be working for full 8 hours a day which translates to 160 hours a month. Less than a dollar per hour would just give you roughly $100 or even less. Do you think you'd want to still take that job? Many people I've seen are always applying to those kinds of listings thinking they have a job and can start saving but in reality, just by using their computers for 160 hours, they may not even be able to pay the electric bills. Its a win-loss type of work. Win for the employer and loss for the employee.
Lastly, you know what your skills are. You know the kind of work you are best so market those skills and charge a competitive price. Don't charge first over the standard rate if you are new to freelancing but over time once you have gained a lot of clients and have more experience, then you can raise your price. Clients will happily pay you a high rate per hour if your work meets or exceeds their expectations. Some clients may take advantage but you can weed them out and just continue working on the good ones.
Bottom line is, setting a price can be tricky but with enough experience and some planning ahead, you will be sure that you can pay your bills on time and have enough savings left at the end of the month.
Be a winner at the rat race and enjoy living life to the fullest!
Article Source: http://EzineArticles.com/?expert=Jonathan_Jose
Some things to take note are the cost of working at home. You might not need to go outside and drive a car or take a cab but you are now consuming more electricity and other utilities. All the time you use are not billable hours so you have to check how much is the expenses added since you started working at home. You have to set a price that will let you pay your bills on time.
I have seen listings on many job sites offering less than a dollar per hour for a full time work! Imagine you are applying for this work. Even if the work is easy, you have to be working for full 8 hours a day which translates to 160 hours a month. Less than a dollar per hour would just give you roughly $100 or even less. Do you think you'd want to still take that job? Many people I've seen are always applying to those kinds of listings thinking they have a job and can start saving but in reality, just by using their computers for 160 hours, they may not even be able to pay the electric bills. Its a win-loss type of work. Win for the employer and loss for the employee.
Lastly, you know what your skills are. You know the kind of work you are best so market those skills and charge a competitive price. Don't charge first over the standard rate if you are new to freelancing but over time once you have gained a lot of clients and have more experience, then you can raise your price. Clients will happily pay you a high rate per hour if your work meets or exceeds their expectations. Some clients may take advantage but you can weed them out and just continue working on the good ones.
Bottom line is, setting a price can be tricky but with enough experience and some planning ahead, you will be sure that you can pay your bills on time and have enough savings left at the end of the month.
Be a winner at the rat race and enjoy living life to the fullest!
Article Source: http://EzineArticles.com/?expert=Jonathan_Jose
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