Change Payment to Monday?

[Boymom]

Hi everyone!

I have one family that doesn't get paid until late on fridays and then they have to rush to the bank and so they pay late. I've been charging them a late fee, but part of me wants to let them pay me first thing on Monday morning. No pay no stay though and I would definitely enforce that rule.

But it's also not my problem that they have no money management skills. (They told me they don't)

I guess I just feel bad to continuously charge them a late fee rather than just allowing them to pay on Monday.

Have you ever allowed a family to pay on Monday?

[daycare]

I know that some on here do, but i don't.

I don't for these reasons

I buy all of my supplies on the weekend for the upcoming week. food, supplies, curriculum and etc. If someone pays me on monday then basically I have to wait to get that money back.

also, i don't do it on monday because if the check bounces, you won't find out until you have already provided services. I have had banks take 2 days to contact me about a bounced check. now you have provided free services and are having to chase your money down.

For me, it does not work, but if you feel that it would be more helpful to the family and you can do without the money until monday then do so.

[Blackcat31]

Hi everyone!

I have one family that doesn't get paid until late on fridays and then they have to rush to the bank and so they pay late. I've been charging them a late fee, but part of me wants to let them pay me first thing on Monday morning. No pay no stay though and I would definitely enforce that rule.

But it's also not my problem that they have no money management skills. (They told me they don't)

I guess I just feel bad to continuously charge them a late fee rather than just allowing them to pay on Monday.

Have you ever allowed a family to pay on Monday?

Do they pay by check?

If so just dont cash or deposit it until Saturday.

All my parents are paid on Friday. I do my cashing/depositing on Saturday. My familirs that dont pay by check use automatic bank transfers.

I used to collect payment on Monday but I always ended up with parents that couldnt control their spending over the weekend and would show up empty handed on Monday.

I think you should do what works for you! There is nothing wrong with being flexible or having a separate policy for one family. That's the beauty of self employment... you get to do what works for you.

[Unregistered]

I accept payments on Fridays for reasons posted by both above. If this family has money management problems how are they gonna be able to manage their money through the weekend. Plus to me I feel like people are always trying to what they can get away with. You give an inch they'll take a mile. They knew your payment due date and time when they signed the contract so I would keep everything as is.

[lovemydaycare0912]

If they pay by check Friday, as long as you have different banks, and only deposit not cash, the money shouldn't come out of their accounts until Monday or later. I use to allow up until Monday, but now I require by Friday at pick up. So much easier for me.

[Boymom]

Thanks everyone! They pay by cash and they know I have to get paid by 5:30 on Friday's (or at pickup if they pickup earlier) but when they pick up, they say they will be back with the cash. It irritates me because even when they pickup a little early, like 5:00, they still say they have to run to the bank. I just want to say, why can't you just go to the bank first and then come here and avoid a late fee?? Part of me wants to move it to Monday so I don't have to deal with this, and part of me knows they will try to pull something on Monday morning and I don't want to start my day like that.

[KSDC]

I allow my families to set up their pay schedule when they first sign on. So, I have several who pay on the 1st of the month, some who pay every Friday, one who pays on the 1st and the 15th. I would have no problem with setting up a Monday pay schedule for a family. Just write them a new contract that lists the day that their payments are due and stick to it.

[Silly Songs]

It's nice of you to consider helping them. I would do that for a good family. Seems as if they need a break.

[EntropyControlSpecialist]

Can you enroll in Minute Menu Kids childcarepay.com program? They could pay online.

Or, could they do a bank deposit and simply go to YOUR bank and have them put it into YOUR account?

Or you could require a check and do like BlackCat suggested and just wait until Saturday to cash it. Don't change your rules for them. They could always borrow the cash from someone else for ONE week and then be ahead of the game and paying on Fridays like all other families in the future, if that makes sense.

[Mike]

If getting the money later on Friday isn't a problem for you, I would do like pp said and have them deposit to your account, or they could do an e-transfer, or give you a check to cash later. Anything that lets them pay a bit later, but not make you have to be home to get it. Or, if Monday isn't a problem for you, change it to Monday on the contract.

[AmyKidsCo]

Thanks everyone! They pay by cash and they know I have to get paid by 5:30 on Friday's (or at pickup if they pickup earlier) but when they pick up, they say they will be back with the cash. It irritates me because even when they pickup a little early, like 5:00, they still say they have to run to the bank. I just want to say, why can't you just go to the bank first and then come here and avoid a late fee?? Part of me wants to move it to Monday so I don't have to deal with this, and part of me knows they will try to pull something on Monday morning and I don't want to start my day like that.

Maybe your late fee isn't high enough to motivate them? Honestly, if they're OK paying a late fee on Friday nights chances are they'll be OK paying a late fee on Monday nights.

[laundrymom]

Maybe charge the %20 more for five weeks and allow Monday pymnts. Then on that sixth week go back to Friday due dates and use the saved five weeks worth of %20 payments to get them a week ahead.
Did that make sense because in my head it did.

Ex:
100 weekly fee due Friday's.
Let them pay 120 for five weeks and they will have built up a weeks fees to get them ahead. Then Friday they can pay after your cutoff but they are a week ahead so no late fee ?

[renodeb]

When I first started doing dc I had payment set up for Mondays. After a while I found that parents where "forgetting" there check books etc. I changed payment date to Fridays for the coming week and I have not had that issue
since. I think parents just forget to grab that check book come Monday.
Did they originally say they could pay on Friday? Do they pay cash? Thats a tough one.
Deb