Thanks for sharing this topic! Pricing is always something that gives a lot of insecurity especially for those who are at the beginning. You are always afraid to waste your time or be underpaid but you don't wanna loose your job.... After some works I can only support your method. Even do when you have little experience it's even hard to understand how much would it take to make a specific work. But this comes with time I guess. Sometimes you simply set the price good, sometimes not. My teacher said that the important thing is, even if you realize you setted the price bad, is to do your best in any case! Anyway I honestly think you need to change a little the formula, because you won't work 176 hours during the months. Or better said, you will work but not for your customers (there's a lot of things to do when you are freelance: advertising, accounting.....). So I think you have to figure out how many ours you can really work getting paid. You also ave to understand the customer type you have to deal with. Is it a local, small activity owner or a large brand? This may count on your charge.