TTO

[jumping j]

Had a family round yesterday who want term time only but to split the cost over the year.
Am I right in thinking I;
daily rate x 5 days x 34 weeks (school year) = _____ then do I didvide by 52 weeks (number of weeks in a year) or 50 weeks (number of weeks I work)?

Is this right or does anyone do it differently?!?!

I'm really pleased they want to sign as I have 2 part time lo's leaving in September and this, along with an after school/school holidays, will fill their gap perfectly and both families and lo's seem lovely. Also nice to have some girls for a change, after a year of only boys

[Bridey]

If you are guaranteed that you take the 2 weeks off then I would divide it over 50 weeks to still give them the two weeks payment break to pay alternative childcare. If no-one else pays you over the two weeks holiday then they may not be happy being asked to do so (even though its part of the whole year workings) and you could end up spending a lot of time explaining to them why ...!

Just tuck a little income away to cover those weeks.

[Kiddleywinks]

'erm... isn't there 39 term time weeks?

So daily rate x 5 days x 39 then divide by 52

As it's a TTO contract, parents won't be affected by you having holiday time as they don't use you anyway....

[Bridey]

'erm... isn't there 39 term time weeks?

So daily rate x 5 days x 39 then divide by 52

As it's a TTO contract, parents won't be affected by you having holiday time as they don't use you anyway....

They want to split the payments over the year irrespective of whether its the school holidays or not.

To be honest - I work mine out monthly and the parents pay me via standing order each month.

[Kiddleywinks]

Exactly Bridey, so if they only require 39 weeks worth of care, which is done over term time only, but want to spread the payments over the year (52 weeks) unless the OP takes holidays DURING term time, she doesn't need to calculate her holiday (nil payment) into the equasion iygwim

[Bridey]

She's not asking if she should calculate the holiday into the payment (I agree with you that she shouldn't) - she's asking whether to still expect a weekly fee instalment during her holiday or add it onto other weeks and let them have a break for the two weeks she is away. I'm assuming they will turn up at her house every week - whether she is working for them or not - and pay her.

Personally, I still think a monthly standing order is the way to go - less risk of missed payments during the school holidays and they won't notice when she is on hoiiday and not there to receive the payment.

The reason why I reckon she would be best to spread the payments over 50 weeks (if being paid weekly) and then take an instalment break was to avoid confusion - they may think they were paying her to be on holiday, when they are not, they are paying for the termtime place

[mama2three]

Are you charging a retainer in the school hols.
Do you take your hols in term time or in school hol time?
what do you charge for your hols?
what do you charge for bank hols?

need to know all the above before doing any calculation x

[The Juggler]

just so you know hon (at least in England) there are 39 weeks of the school year not 34 - make sure you don't get short changed.

I would charge the same monthly fee and just refund any holiday you take as necessary.

As you are spreading the cost of 11 months care over 12 months you need to make it clear to parents that they are underpaying for care each month to do this.

I have a form which sets out the monthly payment for care, sets out what they WILL be paying, how much the underpayment is.

Then it has a statement saying 'we (the parents) are aware that we are underpaying for care each month adn should we leave before the end of the academic year - 31st August - that such underpayment for care received will be calculated and added to the final months fees'.

Then get them to sign to agree to this hon.

[Bridey]

I always use the word "estimated monthly payment" and make it clear to the parents that they may need to top it up nearer the end of the school year ... sometimes it even gets reduced!