Money, Money, Money! - Page by Page | Chapter Three - Part Four
Welcome back to my chapter-by-chapter review of The Weekend Homesteader by Anna Hess! Last time, we talk about the importance of seasonings and spices. Now it is time to move on to the next section - hourly wages!
Part Four - Your Real Hourly Wages
I was pretty apprehensive about this section because, even though I’ve just started my homesteading journey, I understand it is a full-time (24/7) job and it can be difficult to make a lucrative endeavor. So figuring out my “real hourly wages” was a daunting prospect.
This section was extremely short (3 pages) but direct and to the point. To put it into as simple of terms as possible, do the following steps:
- Record how many hours you (truly) work each week
- Add up and record work-related expenses
- Record your average weekly income
Subtract your work-related expenses from your weekly income and then divide by the total number of hours you work in a week. This will give you an accurate hourly wage.
Ironically, I decided to take a closer look at my Steemit finances before reading this chapter since blogging is currently my full time job. I have decided to withdraw all of my SBD rewards on the last day of every month to get a general idea of much I make monthly. I am also going to record how many hours I spend working on Steemit each week and how much I make by the end of said week to see my hourly “wage.” All of these rewards are still going towards student loans so I can finally live debt free (hopefully before my estimated payoff date of 2025).
Check back later to see my records!
How many hours per week do you think you spend on Steemit?
First photo (modified by @kiaraantonoviche) and second photo from and used under the CC0 license. Information and quote(s) from The Weekend Homesteader: A 12 Month Guide to Self-Sufficiency by Anna Hess. Article contains affiliate links through Amazon.
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This post reminded me of a piece I wrote 7 months ago: Is time really money?
So much of what we do here on steemit or on our homesteads are investments in the future, like with you using your SBD to pay off your student loans. I understand why you are keen to figure out your hourly wage, it's a fun and worthy exercise. May I suggest, at least mentally, including all the money you save in interest with each additional payment to your debts? If you pay off say $50 every month from steemit earnings - how much does that translate to in saved interest?
That hourly wage part is daunting. I'm wondering if a different approach might be less stressful. If you're doing something because it's what you want to do and it's important to you, then hopefully the hours put in aren't important. As long as you can get by without needing for anything, them maybe the goal is accomplished and any extra is a bonus. We've become so used to making everything about earning potential that we give up doing what we want for a job we hate because it pays more.
Well I currently don't pay for anything because I live with family but it is past time I become self sufficient, so I want to make enough to begin moving in that direction. EDIT: also, looking closer at the chapter, I think the author meant to evaluate the hourly wage of your full time job in order to save to begin homesteading, not how much you make homesteading lol!
Lol! Things often sink in better second time around!