I just realized I'm losing 2 days of pay a month!

[Sunchimes]

One of my moms pays every other Tuesday. That was when she got paid and when she paid me. Great-works out just fine.

She got a new job, and at the first of this month she said she now got paid-and would pay me- the 10th and 25th. I was busy dealing with my husband's diagnosis, and pretty much said fine, whatever, bye.

A few days ago, I realized that somewhere in the back of my mind it had been nagging at me, so I got down the calendar. Instead of being paid for 12 work days each time, under the new plan, I'm getting paid for 13 work days for the same price. I'm losing 2 days a month this way.

We have a meeting on Saturday to fix this. ;-)

[nothingwithoutjoy]

Ugh! I hate those "sure, fine" moments. I've had some that I just let go, but I'm learning to get back to them and say hey, wait a minute! :-) (Good for you for addressing this one right away!)

[littlemisssunshine]

I don't get it how are you losing two days, do you charge by the week?

[Rachel]

Yes, are you charging by the week or the month? Figure out your monthly rate and divide it by 2 if she wants to pay by the month. Explain to her that each month has more than 4 weeks, so it will be a bit more than paying every other week, but at the end of the year it all works out the same.

[Meeko]

Yes, are you charging by the week or the month? Figure out your monthly rate and divide it by 2 if she wants to pay by the month. Explain to her that each month has more than 4 weeks, so it will be a bit more than paying every other week, but at the end of the year it all works out the same.

I have had to explain this to quite a few parents! They think that the monthly rate should be the weekly rate x four.

[MissK]

The only way I can ever make somebody understand this is pointing out some common sense math: there's 52 weeks in a year. If there were strictly 4 weeks in a month that would only come to 48 weeks (12*4). With a background in bookkeeping this is the only thing that has actually gotten through to most people.

[Lucy]

In my 18 years, I have had this come up more times than I care to remember. People just do NOT get that a month is not 4 weeks.

A way to figure it out is:

If you charge $100 a week (just picked a random amount) --

$100 X 52 weeks in a year = $5200 per year

$5200 divided by 12 months = $433.33 per month

$433.33 divided in half = $216.67 that they would pay TWICE A MONTH.

If you merely took the $100 a week and had her pay $200 twice a month, you lose $33.34 every month.

______________________

To convert a monthly amount to a weekly:

If you charge $500 per month --

$500 X 12 months = $6000 per year

$6000 divided by 52 weeks = $115.38 per week

[daycare]

what Lucy said....

I bill my parents monthly using MMK

I create the invoice and send it via email. All of my parents pay at the end of each month, one month in advance. I don't care when they get paid, it's up to them to manage their bills and pay them when they are due.