Step-by-step walkthrough
Use this companion guide beside the interactive calculator to make sure you understand the “why” behind every click. Each section includes the classroom explanation, student-friendly language, and quick practice prompts.
Collect the data points listed below and double-check their units. Keeping an organized “givens” list is one of the fastest ways to reduce math errors and impress exam graders.
Step 1
Set your target take-home income and estimate annual business expenses (software, insurance, taxes set-aside, equipment).
Step 2
Enter how many weeks off you're planning and your typical working hours per week.
Step 3
Be honest about billable percentage — most freelancers bill 60–80% of their working hours once you account for admin, proposals, and finding clients.
A salary calculation assumes 100% of your time is billable and ignores costs your old employer covered — insurance, equipment, downtime between projects. Freelance rates need to fund all of that from billable hours alone, which are always fewer than total hours worked.
Use it as a floor, not a ceiling. It tells you the minimum rate that meets your income goal — market demand, experience, and project value can (and often should) push your actual rate higher.
