Another 52 Week Pmt ??...I Can't Count For Some Reason Today

[frugalmama4]

Happy New Year all!

Quick question. Changing my rate to $130.00 per-week, please help me calculator the 52 week thing.

What I got-

52 x 130.00=6760.00
6760.00 / 12mo= 563.33 (will round down)
563.00/4weeks (in a month)=140.75

So how much would they pay if paying every two weeks?

$140.75 x2 =281.50...right?

so the difference from 130.00-140.75=10.75

10.75x52= 559.00 (so the extra 10.75 covers 4weeks of pay for the year?)

I don't know what's wrong with my brain...I'm acting like a dcp...just not getting it today?

Help me pls.


Thx

[My Daycare]

6760 divided by 26 Weeks equals $260 every two weeks. I think.

[Fruitloops1]

6760 divided by 26 Weeks equals $260 every two weeks. I think.

I thought the same thing. The yearly divided by 26 weeks a year. Which ends up being $260.00 every two weeks.
So there will be two months (maybe 3) a year that they will be paying 3 times in one month(if paydays are Fridays or Mondays).
Are you trying to do semi-monthly? Where families pay on the same two dates every month? Like the 15th and 30th?

[DCMom]

I have one family that pays monthly, one that pays semi-monthly.

I just count the Mondays (my payday) in the month x weekly rate = the monthly payment and /2 = the 15th & last day of the month payment.

It's worked so far

[mema]

6760 divided by 26 Weeks equals $260 every two weeks. I think.

This if it is every 2 weeks and not twice a month. Because if they pay every 2 weeks, they pay 26 times a year and if they pay twice a month, they pay 24 times per year.

[frugalmama4]

Clarify

It would be every two weeks they would pay.

My pay days are Friday's (everyone pays a week in advance).

I need to make sure I'm not losing any $$$ when we have 5weeks in a month.

Thx

[mema]

You aren't losing money for the year, but some months you will be paid 2 times and others 3 times, so your monthly income will be different 2 months a year.

[Crazy8]

every 2 weeks is VERY different than 2x a month. If your rate is $130/week they would pay $260 every 2 weeks. How many weeks in a month would have nothing to do with it because they will pay you every 2 weeks regardless of where you are in the month or how many friday's in the month, etc.

You would only use the 26 weeks calculation if they were paying bi-monthly (twice a month, like 1st & 15th).