Have you ever looked at what you really make?
By that, I mean after the expenses of generating that income and after youve paid taxes on it?
A few years ago, I worked briefly for a temp agency doing construction work.
I quit that job quickly.
So lets get started.
No Interest Til Almost 2027?
My experience with that temp agency made this very clear.
You could easily be at work for 20 hours to get paid for 10 hours of actual work.
I count every minute from the moment I leave the house.
Time is the ultimate currency of life, so I want a true accounting of the hours.
Then count all time until you expect to arrive at home again.
Freelancers who work from home might be the most prone to underestimating the total time spent earning their money.
You might easily forget some of these activities.
double-check you include all of the time that is related to your source of income.
Google Maps will also help you calculate the miles to and from work.
Exclude educational expenses youve already incurred.
Economists say sunk costs like these are irrelevant to future-based calculations.
Income taxes are dependent upon where you live.
In either case, you pay income tax at varying rates.
Its easiest toadd up income-related expenses by the year.
Then calculate what you get for your time.
you’re free to alsocompare benefits packagesto get a more accurate comparison.
It is just a start, of course.
For one thing, it completely ignores whether you like the work.
Your hourly pay is just good information, not the whole story.
Also, you do have to pay the bills.
Knowing what you actually make is a good start.
Steve Gillman is the author of 101 Weird Ways to Make Money and creator of EveryWayToMakeMoney.com.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
