21 Nov 09 Freelance Writing – How to Fix Your Rate

Are you getting paid what you deserve for the writing services you offer to you client? This is a tricky question, and not many people feel confident while answering this question because most of the freelancers do not know if they are well paid, under paid, or over paid, which at times become very, very frustrating. In this short blog post, I will tell you how to fix rate for your freelance writing, but before I do that, let me tell you that your rate should not be influenced by what others are charging because everyone else is not you and nor their requirements are yours.

Fixing a freelance writing rate

Step 1: How much money do you need?

The first step in the process is to ask yourself how much money you need every month. Some of you must be thinking, what the client has to do with this, and why does it matter to them. Well, it does not matter to your client or anybody in this world, but still you need to figure this bit out because you are working to pay your bills, and if your work cannot make you pay your bill then things will get a little complicated. It will come down to your basic need for survival. Hence, first realistically figure out how much money do you need in a month or a year.

Step 2: What are the business expenses?

Now, it is time to right down your business expenses. Write everything down on a piece of paper, do not leave anything. This heading will include the electricity bill, business telephone bill, stationary costs, printer’s ink cost, any equipment that you will buy, etc.

Step 3: How much work can you do in a month?

None of us are superman, so there is only so much work we can complete in a day or month, and there are only so many clients we can take. Be realistic in finding your limitation. Do not sell yourself short, and also do not overrate your ability. Count this in hour.

Step 4: Do the math

Now, as you know the number of projects you can take in a month, your monthly expenses, and how many hours you can work in a month. Add the expected monthly sum and the expenses and divided by the work you can do. This will give you the rate you need to survive, but what about the future savings? You need to adjust your rate for that as well. Add expected per year savings, to the sum and then take out your per hour rate.

In order to fix a rate for the fixed price work like per article or per week, you will have to first figure out how much time do you need to write one article, and then find out how many you can write in a month. Divide the equation with this instead of total number of hours, and you will get your rate for one article.

Tags: Business Expenses, Business Telephone, Electricity Bill, Freelance Writing, Freelancers, Heading, How Much Money, Math, Monthly Expenses, Pay Bills, Piece Of Paper, Rate Step, Step 1, Step 2, Step 3, Superman, SURVIVAL, Telephone Bill, Tricky Question, Writing Services