A lot of freelancers wonder about a method to calculate their hourly rate. They have questions like; is it going to be too pricey for clients? Am I underestimating my skills by setting a low rate?
Here are some answers to help you figure out the proper rate for you as a freelancer.
1- Define your target income
You should be aware of your financial needs. Think of your monthly requirements and consider your savings.
2- Calculate your newly costs per year
Your financial status changes yearly according to different circumstances. You should consider comparing your income and costs every year and see what's new on the list of your needs.
3- Get your basic needs met
You cannot sacrifice your basic financial needs for anything else. If your job doesn't meet them, you wouldn't be happy and satisfied making your career in the first place.
4- Ask your network (and Google)
It's always better to ask for others' advice, especially those who have experience. Google is also full of answers to any of your questions.
5- Consider billing by the project
It's better to calculate these costs and make sure that your final income will be satisfying for you.
6- Don't forget to take time off
Your body and mind have the right to rest. If you don't take a break from all of this pressure, your creativity level would get affected and would also affect your rate.
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