Freelance Rate Calculator - Calculate Your Break-Even Point

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8						Freelance Rate Calculator (2024)
9						Check out the Spanish version →
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11						How much do you need to charge to sustain your business as a freelancer/self-employed person?
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13						Take 10 minutes and calculate your hourly/daily/weekly rate:
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16						INSTRUCTIONS
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18					Click here to make a copy (Google Drive)
19						OR
20					Click here to download it (Excel File)
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23						Now you can complete your own spreadsheet!
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28						START
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31				ANNUAL EXPENSES
32				ANNUAL EXPENSES
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34					DAILY	MONTHLY	ANNUAL	←	Annual Expenses, by category, will be equal to:
35	Group	Category			↓	↓	↓		( Daily x 365 ) + ( Monthly x 12 ) + ( Annual x 1 )
36	Housing
37	Housing	Rent or Mortgage				$200		←	How much for the roof over your head?
38	These are the essential expenses you need to cover to maintain your current lifestyle. If you can't cover these costs, you can't be a full-time freelancer, sorry!
39		Utilities				$50		←	Lights? Electricity? Heating/Air Conditioning? Water?
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41		Phone & Internet				$50		←	Cell phone bill? Cable? Internet? Landline?
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43		Food & Entertainment			$20			←	Groceries? Outings? Dinner with friends?
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45		Insurance (health/other)				$100		←	Health/Dental/Vision/Life insurance? Car insurance?
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48	Travel
49	Travel	Transportation				$50		←	Car payments? Train, bus, or subway fare? Uber or taxi rides?
50	Most likely you will also need to cover these costs.
51		Travel (Hotel & Tickets)					$300	←	Airplane tickets? Hotel or AirBnB? Train or bus trips? Event travel?
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54	Business I
55	Business I	Office Supplies				$40		←	Pens, paper, ink? Small office furniture or workstations?
56	These are your main business expenses. Example: If you need a computer every three years, consider taking the total cost and dividing it by 3, then place the amount in the 'Annual' column.
57		Hardware & Software					$600	←	New computer? Monitors? One-time software purchases?
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59		Business Assets					$100	←	Fonts? Icons? Images? Books? Add-ons?
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61		Subscriptions					$100	←	Figma? Google Workspace? Newsletter software? Professional tools?
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63		Website					$100	←	Hosting? Servers? Cloud? Domain registrations?
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66	Business II
67	Business II	Advertising				$20		←	Google Ads? Print or online ads? Facebook? Instagram?
68	These can be considered optional if you are just starting out.
69		Legal & Accounting					$400	←	Contracts? Taxes? Accounting? Legal advice?
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71		Professional Development					$500	←	Tuition? Professional classes? Networking events?
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74	Business III
75	Business III	Office Space				$200		←	Co-working space? Office?
76	Once your business is established, these additional expenses could be part of your financial planning.
77		Contracts & Help					$150	←	Need to hire help on projects? Any additional help?
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79		Other				$30		←	Business insurance? Business entity fees? Other expenses?
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83					Daily	Monthly	Annual
84		SUB TOTAL			$20	$740	$2,250	←	Amount you spend per day, month, and year
85		Rates			x 365	x 12	x 1	←	Multiply the amounts by the number of days, months, and years
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87		ANNUAL TOTAL			$7,300	$8,880	$2,250	←	Add these amounts to get your total annual expenses
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89					$18,430			←	Your total annual expenses
90				in ANNUAL EXPENSES
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93						So, you need to earn $18,430 to cover costs???
94						No, you need more!
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97				How to Reach Your Break-Even Point
98				How to Reach Your Break-Even Point
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100			You need to earn enough to cover all annual expenses AFTER sales fees and taxes are paid.