Worksheet · Freelancing · Freelance Client Management
Rate calculator
From the lesson Managing Your Finances
Work through each step on paper or on screen. Use a real business, a project of your own or a friend’s idea. Keep this page for your portfolio.
1Estimate your monthly living costs and business costs.
2Calculate the hourly rate you need.
3Set up a simple income and expense tracker.
Worked example to compare with: Setting a rate for one project
- Monthly target: $4,000 income, $600 costs and $1,200 set aside for taxes, a total of $5,800.
- Billable hours: you work about 120 hours a month, but only 80 are billable.
- Math: $5,800 divided by 80 is $72.50 an hour.
- Project quote: 10 estimated hours plus a 50 percent buffer is 15 hours, so $1,087.50.
- Check: if clients say no, improve how you explain the value before you cut the rate.
Check yourself
- I can explain "Managing Your Finances" in one sentence.
- I used a real business or project, not just an idea.
- I know what I will do next, and by when.
Notes
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