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In this video tutorial, the presenter explains how to change the hourly default rate in the Invoice Maker and Estimate application. Viewers are encouraged to subscribe for insights on YouTube revenue statistics and online income strategies once the channel reaches 10,000 subscribers. To change the hourly rate, users should first open the app, tap the menu icon in the upper left corner, select settings, and then tap on "Other." From there, they should choose "Hourly Rate," delete the default value, and enter the desired rate. An option to enable grouping is also available. Finally, tapping the "Done" button updates the settings automatically.