How should freelancers set their rates, especially when they are just starting out?

[Btaliat]

You just don't fix a rate for yourself. At least make sure that you are getting it right so that you won't be shortchanging yourself. How can you get this done? You need to make sure that you call your competitors to know how much they are charging, if only they can be of help. You can even research to know how much your niche does charge for the task. What do you think need to be done to get it right?