More People Doing Weekly?

[Country Kids]

I have never charged a flat rate but always knew that going monthly would cause me to lose money with most months being more then 4 weeks.

So I was wondering are more people going to charging a weekly fee over monthly or do more people still do monthly.

For those that do monthly, are your rates a little higher to the months that have alot more days in them?

I charge hourly right now, and I know for some months I will get $50-$100 dollars more a month because of more days in the month.

[Meyou]

I do weekly or bimonthly but they have to pick and stick to it. I work out the bimonthly over a year and break it into 26 payments.

[CountryMommy]

I state my rates by week, but they have the option to pay monthly. They use this formula for figuring out their monthly rate: weekly rate x 52 weeks / 12 months = your monthly fee.

[Heidi]

I have never charged a flat rate but always knew that going monthly would cause me to lose money with most months being more then 4 weeks.

So I was wondering are more people going to charging a weekly fee over monthly or do more people still do monthly.

For those that do monthly, are your rates a little higher to the months that have alot more days in them?

I charge hourly right now, and I know for some months I will get $50-$100 dollars more a month because of more days in the month.

If you're charging monthly the standard formula is week x 4.3 to make up for the odd days.

[Crazy8]

I do weekly, but have offered to do monthly for those who would rather it (no one has ever taken me up on it). I figure their weekly x 4.33 to get their monthly so you don't lose out for those 5 week months. I prefer weekly though because my own budget is based on a 4 week month so I love getting that extra weeks income a few times a year.

[Sprouts]

its more like 4.333333333333 (every little 3 makes a difference )

[renodeb]

I have always charged a weekly rate.
Debbie

[Sprouts]

I personally like to do weekly, since I have an assisant its eaier for me to visually see money in and money out, i was thinking of switching though, but haven't yet.

[bgmeyers]

I charge monthly, but I multiply how many days there are in the month and give them an invoice for that amount about a week before the 1st. So a month with 22 days, like this month, is a bigger bill than last month.

[countrymom]

I do daily because then it doesn't look like a big expense at the end of the week ! But for full time I charge 150 per kid.

[DCMom]

I charge weekly, but many of my families are requesting to actually pay monthly. I kind of like it.

I just take the # of Mondays in the month x their weekly rate = check amt for the month. This works better for me since half of my families are permanent part timers, I feel like one or the other of us would feel taken advantage of some months.

[sharlan]

I charge weekly, but all parents are paying differently right now. One pays every week, one pays every 2 weeks, one pays every 4 weeks, and the last one alternates between weekly and every two weeks.

[Kiki]

I charge monthly. But also yearly. I figured out my rate by setting a daily, and then multiplying it by 260 (the average amount of work days+closed holidays in a year), and dividing it by 12, I might lose out on a bit here and there, but it's an easy way to explain to my parents how I calculate my rates.

[DaisyMamma]

I state my rates by week, but they have the option to pay monthly. They use this formula for figuring out their monthly rate: weekly rate x 52 weeks / 12 months = your monthly fee.

I will be using this formula!
I only take weekly payments unless their weekly fee is $75 or less, in which case I require monthly payments due at the beginning of the month. (I will be using countrymommy's formula to determine these rates from now on.) The only kid I have paying monthly comes specifically on Wednesdays. So mom pays me on the first Wednesday of the month based on how many Wednesdays there will be in that month.

[PitterPatter]

I charge by the day or 1/2 day and collect weekly. I tried doing the montly in advance before but with some clients calling off so much I would have to keep recalculating and refunding. (I dont charge unless a child is in care for that day) Now I just charge at the end of the week.