Without fail, the most frequent question I receive from freelance designers and developers alike is how to effectively estimate costs, and figure out what their personal hourly rates should be.
No matter how you plan on billing, whether it be hourly, by retainer, or project-based, you must calculate your personal hourly rate in order to give a fair estimate. Naturally, you want to get paid for your time and expenses, and turn a profit so you can save for a rainy day or a much needed exotic vacation.