How To Make Sure You Are Calculating Your Billable Hourly Rate the Right Way

Pennygem

PennyGem’s Elizabeth Keatinge tells us why experts say you need to figure out what you are worth, so you can stop taking time away from things you want to do.

Transcript

00:00What are you worth? That's what one expert says you need to figure out to start delegating your

00:08time better. Literally, you need to figure out your hourly rate. Romy Neustadt tells MarketWatch

00:13that this is how you do it. Decide how many hours per week you want to work. Then multiply that by

00:1852 weeks, which gets you your hours per year. Now take your annual income and divide that by hours

00:25per year and that's your per hour rate. Once you figure that out, you'll see how your money is

00:29literally being wasted when you waste time. If your hourly rate is $300 and you spend 30 minutes

00:35scrolling Facebook, there's 150 bucks down the drain. If you want to manage your time better,

00:41you may consider talking to your employer about your work structure. Business Insider highlights

00:45a study by Zenefits that says that in 2018, 78% of employees said that flexible work arrangements

00:52made them feel more productive at work. Forbes suggests having set periods of time to write

00:57and respond to emails to help you manage your time. Say no to requests for phone calls that

01:02are not necessary. Choose meetings wisely. These can also suck the day away if they're not productive.

01:08Oh, and if you figure out that having someone do your laundry or getting a meal service is worth

01:13it when it comes to your hourly rate, Neustadt says, don't feel bad about that and do it.

Category

Transcript

Be the first to comment

Recommended