If you’re a freelancer trying to find a good way to calculate your hourly rate then the video below is for you.
In it I show you how I use a free app called
Toggl to track my time. I walk you through the exact process I use whenever I start a new project and show you how to run daily, weekly and annual reports to see where you’re spending your time.
I work as a
freelance copywriter and I own a marketing agency.
So most my time is divided between those two areas. And recently I wanted to know how much I’m making per hour as a copywriter vs as an agency owner.
Since I use a free app called
Toggl to track all my time, it was pretty easy to figure out.
First, I did the math on a $5,575 copywriting job I just finished. It took me 65 hours to do so I made $85.77/hr.
Then I ran a report on another recent copywriting project I did. My rate was $4,275 and it took me 54 hours to do, bringing my hourly rate to $79.16.
On June 4, 2017 I decided to start a new daily prayer habit.
So for the last 3 weeks I’ve been praying at least 30 minutes a day. Some prayer sessions have been great. I sense God’s presence and feel like I’m praying in power and with authority.
But most days I feel like I’m just going through the motions.
My prayers feel lifeless and I fight thoughts that whisper, “Josh, you’re becoming so religious by turning a life-giving thing like prayer into a dead habit. You’re wasting your time.”
Thank you Accuser, you’re so “encouraging.”
When I get thoughts like that I go back to the Word to meditate on the truth.
I did that today. I read James 5:17–18 that says:
We all need a mentor because we all have blind spots.
We only know so much. We’re not strong in every area. Yes, you have gifts and a unique ability but you also have weaknesses. Things you’re not good at.
And sometimes your weaknesses cause you to stagnate. You may be great at creating and managing systems but still struggle to see the big picture.
Or maybe you’re a gifted strategists but a bad tactician. You can dream but you don’t know how to turn it into reality.
Or maybe you’ve had a measure of success as a freelancer but you really want to own a business, not a job. But you’re not sure how to make that transition… that’s me.
Early on in our marriage we decided we wanted to be debt free.
So we went through Dave Ramsey’s
Financial Peace University at a local church in Tigard, OR.
We stopped eating out so much, started budgeting and paid off all our debt.
It was a great feeling when we finally paid our last debt (we had less than $20,000 so it wasn’t a crazy amount but it still felt great).
Another positive side effect of learning how to budget money is that it also teaches you how to budget time.
For example, most people think the solution to their money problems is that they just need more of it.