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How can you tell when it's time to raise your freelance rates?

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As a freelancer, you have the freedom to set your own rates and adjust them according to your skills, experience, and demand. But how do you know when it's time to raise your rates and ask for more money from your clients? Here are some signs that you might be undercharging and need to increase your fees.

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1 You have more work than you can handle

If you are constantly booked with projects and have to turn down new opportunities, it might be a sign that your rates are too low and you are attracting clients who are looking for a bargain. Raising your rates can help you filter out low-quality clients and focus on the ones who value your work and are willing to pay more. It can also free up some time for you to work on your own goals, improve your skills, or take a break.

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2 You are delivering more value than you are charging

If you are consistently exceeding your clients' expectations, delivering high-quality work, and providing extra services or features that are not included in your original scope, you might be undervaluing your work and leaving money on the table. Raising your rates can help you align your fees with the value you are creating for your clients and reflect your expertise and professionalism. It can also motivate you to keep up the good work and seek more challenging projects.

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Valerie Bolden-Barrett

Freelance Business Writer & Editor
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Freelance writers’ customers naturally want to pay as little as possible for the highest- quality services. But freelance writers must know their value based on skills, experience, and quality of service. When writers know their own value and understand the economy’s impact on their work, they can justify a fee increase.

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3 You have not raised your rates in a long time

If you have been charging the same rate for a year or more, you might be missing out on the market changes and inflation that affect your costs and income. Raising your rates can help you keep up with the industry standards and the cost of living, as well as reward yourself for the growth and improvement you have achieved over time. It can also show your clients that you are confident and serious about your work and that you respect yourself and your craft.

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4 You are earning less than your peers

If you are doing a similar or better work than other freelancers in your niche, but you are earning less than them, you might be selling yourself short and losing potential income. Raising your rates can help you close the gap and position yourself as a competitive and credible freelancer who knows their worth and can deliver results. It can also boost your self-esteem and your reputation in the market.

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5 You feel resentful or burnt out

If you are feeling frustrated, unhappy, or exhausted by your work, it might be a sign that you are not getting paid enough for the effort and time you are putting into it. Raising your rates can help you restore your passion and enthusiasm for your work, as well as your mental and physical health. It can also help you avoid taking on projects that you don't enjoy or that don't align with your goals and values.

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Mert Mengue

Content Marketing for $$$$ Products. I share my exact content marketing strategy in 1:1 mentoring sessions (currently for free)
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Feeling burnt out as a freelancer can have many reasons. Reflect on the following: - Are your Projects challenging to you? - Do you like your clients? A lot of freelancers I’ve talked to were suffering from saying yes to every project that came along.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you tell when it's time to raise your freelance rates?

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3

4

5

6

1 You have more work than you can handle

2 You are delivering more value than you are charging

3 You have not raised your rates in a long time

4 You are earning less than your peers

5 You feel resentful or burnt out

6 Here’s what else to consider

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How can you tell when it's time to raise your freelance rates?

1

2

3

4

5

6

1 You have more work than you can handle

2 You are delivering more value than you are charging

3 You have not raised your rates in a long time

4 You are earning less than your peers

5 You feel resentful or burnt out

6 Here’s what else to consider

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