PRESENTING: The strategies seasoned freelancers use to set rates that are fair but competitive

If you're just starting out as a freelancer, you might not know how much to charge for your work. Shoot too high and clients might not want your services; shoot too low and you might not be able to pay the bills.

And even for experienced freelancers: How do you know if you're really charging a competitive rate that is also worthy of your time and energy? Should you charge per project or by the hour? Are your services worth a price bump?

Luckily, there are plenty of freelancers across many industries who answered these questions before you and were able to share not only how they set a rate, but also how they kept clients paying for it.

"It takes some time to dial in to how much a client will make off of the work I put into their project, but making an effort will really help to justify what you charge and take your prices out of the 'subjective' context. It's like going from saying, 'I feel like I'm worth this much,' to 'I know I'm worth this much,'" explained Chris Misterek, a web developer based in Arizona.