How Large Should My Rates Be?

One of the most crucial things that a new Internet Marketer wants to find out is what amount he or she should be charging for his (or her) products or services. This is definitely an important issue among the freelance writers who are trying to present copy and content writing services to other people who need them. Some freelance writers think that they should merely charge the fees clients want to pay. This is particularly difficult for people who are generally told that only the barest minimum of rates is acceptable. If you have been trying to figure out just how much you should charge for your writing, here is the way you come up with that number.

First you have to create a list of all of your regular expenses. This will probably include things like what kind of money you spend on rent, mortgage payments, utilities, food, credit cards, other services, etc. Make sure you include the sum of money you think you will spend on fun things like dinners out and frivolous shopping trips. The amount of these items has to be multiplied by twelve. This is the amount of money that should be put in your bank account each year. This is NOT how much money you have to bring in.

To find out how much money you need to earn, take the amount of money you have to put in your bank account and then add at least forty percent. This will allow you to cover your taxes and fees-after all, the amount of money you make on the net counts as income and you will need to declare it to the IRS and pay taxes on it. You will use this forty percent on your own Medicare, security taxes, etc. The number you see in front of you, expenditures plus forty percent, is how much you should earn.

You possibly think that you'll be working at least forty hours each week. This is a good quantity to anticipate, but it is important to note that you will only spend probably fifty percent of this work time performing duties for your clients. The other half will likely be used up performing book keeping, marketing and other administrative things. Why does this make a difference? Because it's a direct impact on what amount you will charge. Your initial reaction might be to take the amount of money you need to make and divide it by fifty two and then divide that number by forty (which will help you figure out your hourly rate). Instead, what you need to do is divide the number by the amount of weeks you think you will be working and divide that number by twenty.

Now that you have an hourly fee all established, the amount you charge per project is up to you. How long do you believe it is going to take you to write an article or a sales page? Take the time it's going to take you to finish a job and multiply it by your hourly fee. This is the price that you need to be charging for your various assignments.

By: Avril Steven

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