I think it sounds like fun...since you are new - have here supply everything and then maybe have her decide on how much she would pay, or have her buy you a gift card to a fabric store. That way it also will be less stressful for you...have fun and enjoy it. I never take money for my quilts I make...but I also do not normally quilt when someone requests one. I have done it once and she bought most of the materials...money is not the issue...the stress of doing one when someone is expecting one is...to me it takes the joy out of it and becomes stressful...