Questions & Answers

How much should I charge for X?

31st August, 2020

More than enough. Enough pays the bills. The extra pays for everything else.

Unless you’re selling something that does not exist in the market, you can find how much others charge. That being said, it still depends on the context. Bills vary a lot based on location alone, which influences the base value. So the minimum you charge for the service will need to cover your bills plus enough for you to feel comfortable with the value.

To calculate the absolute minimum, sum up a month-worth of your living costs (rent, bills, food, transportation, insurance, etc) then split by 30 to get your daily living cost. Multiply this by 1.5 to allow a good margin (50%) for taxes. This is your daily base rate.

To calculate how much you should charge for a service, just multiply the daily base rate by the estimated number of days the service will take. Never charge less than this.

For a better lifestyle, do the math again but instead of just living costs, adjust it to how much you’ll need every month to live a good life. Within reason.