Handle Price Objections Like a Seasoned Freelancer

The client has just said your rate is too high and your mind has gone blank. Give it exactly what they said, your rate, the project and why you think the price is fair, and it hands you a decision tree: word-for-word scripts for each branch, the psychology behind why they land, and a clear read on when to hold firm and when to bend.

A client has just pushed back on my rate. Here's what they said: "{client_objection}"

My current rate is {my_rate}. The project is {project_description}. I believe my rate is fair because {value_justification}.

Give me a decision tree for responding to this objection. For each branch, provide:
1. A word-for-word script I can use or adapt
2. The psychology behind why it works
3. When to hold firm vs when to offer an alternative
4. A graceful exit if we can't agree

Also tell me: what signals in the client's objection suggest they're genuinely budget-constrained vs just testing me?