Hi ~ I think this is a subject we all struggle with. I make quilts because I enjoy it. I keep records of time and all supply receipts. I always buy the best possible product and try to get it on sale. I basically figure the cost of the supplies plus 12 cents a sq inch for machine quilting, 15 cents an inch to machine & hand sew the binding on and then depending upon the quilt I charge between 15 & 25 cents a sq inch for the all over assembly; cutting & sewing of the quilt. If people want a hand made heirloom quilt they will pay the price. Explain to them, this is not made in China and with proper care instructions it will last a life time. I like to make a lot of scrap quilts which triples my time (because very little assembly line cutting is going on) BUT I enjoy the challenge so I don't pass that time expense onto my customer. I know fellow quilters that double the cost of supplies or charge $10.oo an hour. Some work fast some slow. Let your quilt speak to you. Its definitly not a job paid by the hour...I think more by the completed project. Hope this helps :)