A few months ago, I saw someone market themselves on LinkedIn as an “affordable translator“ because they were charging 4 cents per word.
If you have thought about following that example, here are some things to consider first!
When you undercharge for your services:
You end up working longer hours.
You stop having free time to find clients that pay more.
Your finances suffer because you start relying on credit.
You could get in trouble with tax collectors.
You start using your time off to work*.
You lose quality because you are not resting well.
Earning less money and having less time for yourself will eventually strain you physically, mentally, and financially.
The truth is that charging less to have more work is a trap that, unfortunately, many people fall prey to.
MORE: How Much Should You Charge?
When you do not value yourself, you attract people who will not respect you either.
That is why I would like to share my advice with you:
Break the above cycle.
Raise your rates.
Find new clients.
Improve your finances.
Work less to give more.
Believe me: you will be happier — and we will be happy for you!
*Work here refers to all the tasks you do as a freelancer, not just paid work.