This is already the 3rd part of my series MONEY TALKS. 

Let me explain you in a quick summery the first episodes:

Money Talks_Part 1:

a.     I explained the theory of fix and variable expenses, stated my working sheets, which I use to keep record of my monthly fix and variable expenses

b.     The right mindset when it comes down to numbers

c.     7 tips on how to save money

As I just started with my business, I want to know how many hours a week I have to work to cover my fix and variable expenses.

My 1st financial goal looks like:

• Covering my monthly fix and variable expenses working as a freelancer in various fields 
• Paying back some small liabilities I have 

Once I’ve reached this goal, I can start working on my next financial goal.

If you want to set right away a big goal, which is very far away from your momentary situation, then those goals could get very scary - because they seem almost impossible or very hard to reach. By breaking big goals apart and setting smaller goals, you remove the focus from the big "thing" ahead and you create easier reachable ones. It’s important not to loose your motivation. 

Setting a timeframe to each goal is a good idea, too. 

As for me right now I want to concentrate to reach my first goal:

• Covering my fix and variable expenses working as a freelancer in various fields 
• Paying back some small liabilities I have 

Let me explain you the right calculation for this:

1. In blog post #33_MoneyTalks_Part1 I explained and show you my working sheets. I got as well the total amounts of my monthly fix and variable expenses. If we add them together, I get my total monthly expenses - which I call in this case XX.
2. My hourly rate for my first projects is YY. Attention: Don't forget your taxes here. You need to put here your rate minus your forecasted taxes. In my case I'm still tax free (every country most likely has a tax free range, so you should check your local tax system). I don't need to think about taxes yet. Due to the big difference in the tax systems worldwide, I don't want to dig deeper.
3. With the numbers XX and YY I can easily calculate my monthly necessary working hours by: XX / YY = ZZ
4. With the monthly hours to work, I then can easily calculate my weekly working ours by: ZZ / 4 = AA 

As I talked already about my money mindset in my last blog post #33 MoneyTalks_Part 1 ,  I have to add today just a few more thoughts on it:

As higher your total expenses each month are, the more you have to work to cover them – I think that should be obvious for everyone.

And as I don’t have the intention to become super rich, I decided to invest the rest of my free time on things I love to do, like

blogging,

writing,

playing more music (I got my first gig to play as a DJ at my very good friend's 40th birthday - YEAH!),

personal development

and of course enjoying my life.