Rate increases

[5 Little Monkeys]

We're self employed so the only time we get a raise is when we give ourselves one. Nothing wrong with that.

For me, I don't feel entitled to a yearly raise. However, that could be because I know not all my parents are at jobs that receive annual raises either. I am lucky that my expenses don't increase each year so I also don't feel the pinch as hard as some others. I grew up with a family run business and know that being self employed is hard work, long hours and can sometimes bring in less money than working for someone else. I am lucky though that my hdc is profitable and makes me more money now than at my last few jobs. It's all relative though and for each of us it will be different.

I have decided that the only time I will increase fee's is for new families and it won't be every time. Right now I increased it by $2 and it will likely stay at this rate for at least 2-5 years. However, if things ever changed and I needed more income, I would consider raising fee's or more likely, decreasing costs. Do what you feel is best for you and your business. When the market is at it's best for us, it would only make sense to increase. When the market won't allow for an increase, we have to deal with it in other ways. Owning our own business means we will always be weighing the pros and cons of staying open vs finding work out of the home.

Good luck to you in whatever decision you decide to go with!