Know your Minimum Hourly Rate
Use this form to determine your expenses in order to know your minimum hourly rate as an online freelancer.
Monthly Income
If you were in an office-based full-time position doing the work that you do, what would you expect to earn monthly (take-home pay)?
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Target Savings and Investments
This section calculates your funds allotted for savings and investments. Some may not be applicable to you at this time, but these would be good to consider in the near future.
What percentage of your annual income do you want to save for retirement?
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How much do you expect to spend on health cards or HMOs monthly?
How much do spend for your life insurances and/or pre-need plans monthly?
How much can you set aside monthly for your Emergency Fund?
How much do you expect to spend monthly for your contributions to SSS, Pag-ibig, Philhealth, etc?
How much do you spend for business / professional development?
How much will you allocate for growing your investment portfolio?
How much can you allot for your Fun Fund (Mad Money)?
YOUR TARGET SAVINGS AND INVESTMENTS
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Business Expenses
This section notes all additional expenses incurred to render your freelance services.
How much are your monthly expenses for utilities needed for the completion of your services/tasks?
How much of your net monthly income goes to self-employment taxes?
How much should you allot for accounting/bookkeeping fees?
How much do you expect to spend on marketing expenses and other overhead expenses?
What percentage of your income should you allot for Upwork, Paypal, and/or bank transaction fees?
How much do you need for a new laptop / PC and other equipment you need for your career?
In how many years do you expect to upgrade your laptop/PC and other equipment you need?
NOTE: Save this amount monthly as equipment upgrade fund
TOTAL MONTHLY BUSINESS EXPENSES
Your MINIMUM Monthly Salary
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Your Work Hours
Let's get your minimum hourly rate, taking into consideration your ideal lifestyle.
How many hours do you intend to work per day?
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*Full-time = 8 hrs
How many days do you intend to work in a week?
*Enter 5 if you take 2 days off per week.
How many holidays do you expect to take off work in a year?
*Of the 12 paid holidays salaried workers get in the Philippines, how many will you take off work?
How many vacation days do you expect to take off work in a year?
*If you are replacing a job with 4 weeks of vacation, enter 20 days.
How many sick days and personal days do you expect to take off work in a year?
Your Workdays Per Year
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Your Ideal Minimum Hourly Rate
Annual Income (Minimum)
YOUR MINIMUM HOURLY RATE
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Where should I send your copy of your answers?
Email
example@example.com
Name
First Name
Last Name
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