Ideally, you would find that your clients could pay this $45 to $50 hourly rate and that it placed you in a competitive position with other designers in your area. However, this number may just be a starting point. Try to find our what other freelancers are charging in your area, especially those that do similar work. You may find you charge much higher or lower, and may need to adjust accordingly. It may also take some time to determine if your rate will work, after dealing with several clients and seeing their reaction (and most importantly, if you land the jobs or not!). Once you have done this research, you can set your final rate.
You may find there are times to adjust your rate on a project basis, such as if you are working for a non-profit with a lower budget but you want to take the job. This is your call to make, based on how much you want particular jobs, the benefit to your portfolio, and the potential for follow-up work or leads. You will also find that your rates will need to be increased over time to compensate for increased living costs and expenses. To do so, go through the process again, determine a new rate, and do the proper research to determine what the market will bear.
