Freelancers: How Much is Enough?

It's difficult to know how much to charge as a freelancer. Do you charge the going rate in your part of the country, or do you average the going rate across the country? Do you charge according to your level of experience? Or maybe you take all of these factors into consideration when deciding what to charge.

It's more important, I believe, to make sure that what you charge takes into consideration your time and expenses, and that in the end, you can make a living doing whatever it is you do. When reading forums and message boards for freelancers, I'm often saddened to find that so many are willing to work for less than minimum wage, simply because it allows them to work from home.

And while I completely understand the desire to work from home, I also think that charging far below what your work is worth will only drive the market down and hurt all freelancers.

And that's why I was so excited to come across this wonderful Hourly Rate Calculator at Freelance Switch. It takes around 20 minutes to complete and can be altered to fit your particular situation. It helps you calculate your business cost, your personal cost, your billable hours, and finally, how much you want to make each year.

It then gives you your ideal hourly rate and a break-even rate. That way, you can set your goals high, knowing exactly what it will take to reach them.