[charlesnw]

Um. You work for money. Generally one should have a target amount of money in mind (based on a budget). I rather like the calculation. I'll use it next time I do consulting.

[jnbiche]

Do you think this is how companies price their goods?

I mean, sure you should calculate a bare minimum rate. But you should charge as much as the market will bare.

[gk1]

Of course you should have a budget, but what does that have to do with the value you're providing as a consultant?

If you're asked why your hourly rate is $X, are you going to reply "because I have expensive hobbies?"