How do I calculate fees so I get the same monthly
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  1. #1
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    Default How do I calculate fees so I get the same monthly

    I've spoke to other childminders in the past who calculate a child's fee yearly so they get the same amount every mth, can some one tell me how I Can do this.
    Also I was getting my children's photos updated today, when I told the lady taking them I was a cm she asked if I charged for my holidays, I replayed no,
    She is also a childminder and I didn't know obviously until she said she was.
    Anyway she told me she charges her holidays and it got me thinking
    I would like to charge for my holidays as I am undercutting myself and my parents get paid for there holidays from there employers so it has got me thinking.
    Do u charge for your own holidays and how have u worded this with your parents,
    I know some parents can be funny with paying a childminder holidays if they can't take there child.
    Thoughts please :-)

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    I don't charge for my holiday as i am not available and if the parent doesn't take the same weeks as me they need to pay for alternative
    childcare but its individual choice. Based on that to get the same wage each month so to cover for my non charge for my hols I work out
    the charge per week multiply it by 47 (as I have 5 weeks off per year) and devide by 12 this gives you your monthly income, then if any
    extra hours used I charge this either weekly or monthly whichever suits. I hope this helps
    Cath

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    Ok, that sound ok,
    You are technically still getting paid but if the parent came up and questioned it you can still say you are technically not charging the 5 holiday weeks that you take
    During school holidays if I don't have them before and after school I would charge half fees and I know for certain I will have one or if not all the mums question my fees if I was to charge the same amount, all year round regardless. HELP unless I stop charging half fees during holidays and charge full to keep the space as technically I could still have them??? Would do u do or say to parents.

    If I had a before and after school I charge £14 a day times it by 5 days works out roughly £70 a week
    Multiply by 47 and divide by 12 again roughly works out at £270.
    Say it's summer holidays etc and I had the child full time all summer,

    Could u show me how i Would even attempt to charge for this, as i Have no idea,
    This is a fantastic way to charge as u get paided like this all year
    However confusing to newbies like me if u have kids over summer, and charge ATM hourly :-(
    Last edited by Kittycat; 05-01-2013 at 11:02 PM.

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    Just reading this thread makes my head hurt...I have some pay weekly,some monthly,some childcare vouchers,some college funding,some term time only...oh and I have 2 different rates dependant on number of hours.

    I would LOVE to be able to do this but would be a logistical nightmare!

    I don't charge for holidays myself but it's your business-your choice...if parents don't like the idea then they don't have to sign up with you...simples!

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    I charge £4 ph. If it's before 8am or after 6pm I charge double rate for unsocial hours.
    The only half fees I have are for teachers holidays.
    I don't charge for my holidays as I'm not available so have effectively "withdrawn" my service.
    During the holidays my fees are down a little but I just make sure I have a little extra in the bank over a couple of months beforehand. It's not enough difference to worry about.
    I use ****** for all my childminding paperwork, great for the charges as it calculates my monthly fees for me after I fill in the daily register. I press "create Invoice" and it does exactly what it says on the tin - creates the Invoice by calculating what hours the cildren have come, at what fee. It's brilliant.
    Also does all my expenses for me!

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    You would just tell parents that you do not charge for your holidays and so you work out the fee over the year and divide it by 12 to give you an averaged out cost so that their payment is the same each month. I would be worried about parents feeling like I "owed" them if I had taken holiday and they left part way through the year. Luckily mine are all fine to pay for eactly what they use each month. It is harder in the months when I take time off but balances out over the year and obviously I know when I am taking holidays and so plan accordingly.

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    Quote Originally Posted by Kittycat View Post
    I've spoke to other childminders in the past who calculate a child's fee yearly so they get the same amount every mth, can some one tell me how I Can do this.

    assuming hours/days are the same each week, calculate weekly fee, multiply by 52 (or however, many weeks you will work per year), then divide by 12. You need to consider will they or YOU lose out if notice is given before the year is up or whether you will have an agreement that that is the fee whatever and the contract ends then just the normal fee is due

    Also I was getting my children's photos updated today, when I told the lady taking them I was a cm she asked if I charged for my holidays, I replayed no,
    She is also a childminder and I didn't know obviously until she said she was.
    Anyway she told me she charges her holidays and it got me thinking
    I would like to charge for my holidays as I am undercutting myself and my parents get paid for there holidays from there employers so it has got me thinking.
    Do u charge for your own holidays and how have u worded this with your parents,
    I know some parents can be funny with paying a childminder holidays if they can't take there child.
    Thoughts please :-) if you have current parents it would be hard to now introduce payment for your holidays, they might have chosen you on the basis you dont charge. You could introduce it for new parents? I used to but no longer do as I work t-time only - I just charge for BH's.

    HTH
    if you do what you've always done, you'll get what you've always got

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    Default

    i charge just for hours contracted, as others have said, too complicated with varying fees and needs to make an annual payment.

    i don't currently charge for holidays, and i know if i started to charge, even half fees, most of my parents would not be happy, so, i am putting my fees up. £4hr X 48 weeks=£192, £2hr X 4 weeks=£8. £192+£8=£200 divided by 48 = £4.16. i have put my fees up to £4.15hr. i have said fee increase is due to rising costs, but i am taking it as half fee for holiday!

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    I have two that are term time only so dont want to have months when I get no payment eg August so...............

    what works for me is that I work on a three or four monthly basis. I do my invoices for the months eg Nov Dec & Jan.
    I then add them together and divide by three (months) giving the amount the parent needs to pay for those three months.
    I give the parents a payment summary sheet with the three invoices so it clearly shows how much each months invoice is and how I have done my workings.
    They love it as they don't have a huge invoice on month and a small one the next.
    I have been doing it this way for a couple of years and never had a complaint!!!
    Hope I have not made this sound too complicated!

  11. #10
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    Quote Originally Posted by Kittycat View Post
    Ok, that sound ok,
    You are technically still getting paid but if the parent came up and questioned it you can still say you are technically not charging the 5 holiday weeks that you take
    During school holidays if I don't have them before and after school I would charge half fees and I know for certain I will have one or if not all the mums question my fees if I was to charge the same amount, all year round regardless. HELP unless I stop charging half fees during holidays and charge full to keep the space as technically I could still have them??? Would do u do or say to parents.

    If I had a before and after school I charge £14 a day times it by 5 days works out roughly £70 a week
    Multiply by 47 and divide by 12 again roughly works out at £270.
    Say it's summer holidays etc and I had the child full time all summer,

    Could u show me how i Would even attempt to charge for this, as i Have no idea,
    This is a fantastic way to charge as u get paided like this all year
    However confusing to newbies like me if u have kids over summer, and charge ATM hourly :-(
    Basically sit down with a pen and paper, write down each childs fees for each week you will have them whether full fee for term time and half fee for
    school hols then add all up and devide by 12 giving you the same each month, then if you have them for extra time in the school hols they pay you
    as they use your services I have 3 children like this and parents love having the same amount go out each month especially for a 5 week month where
    it would be expensive and you know exactly what is coming in and when, if you have to take time off for any reason then just refund the amount
    and as the amount is the same they can pay by direct debit so same day each month too which is bonus no chasing for payments
    Cath

 

 

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