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Freelance Exchange Rate
Working as a freelance writer online has its benefits. Getting paid with a foreign currency is one.
Clients almost always pay with US dollar, and in terms that will let you decide whether to withdraw the money right away, or store them in an account and keep them in until a certain time arrives.
The latter is a good way if you are too conscious about the exchange rate between the dollar and the Philippine peso.
Many years ago, when I was just starting, the Philippine economy was smaller. A dollar translates to about 57 pesos each. Those with relatives working in the US are considered lucky because of this high exchange. Freelancers too are enjoying the rates back then.
Imagine, a hundred dollar is easily Php5.7k, almost a month's pay for an average worker at the time. I was making more or less $500 a week then, the time when bloggers where in their prime capitalizing on their "make money online" tags. Once, I bagged a $3.5k project.
Then I got off from college, found a "regular" job, and slowed down on my freelancing stints. Then one morning I just woke up doing less than $100 a week, with exchange rates hitting record high for many, but record low for me. To date, the peso became stronger, from 57 per dollar now down to just 43. No thanks to the growing economy of the country.
I'm glad that the country is doing really good, especially around this time when most of the world is not doing so well. But somehow, there's a part of me that wishes to go back to the $1=php57 time. Me and my selfish wish. Ha!
You can talk about... Exchange Rate Tags: • freelancing • bloggers • pesos • benefits • writer • freelance • philippine peso • us dollar • foreign currency • freelance writer • exchange rate • make money online •
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