Weekly or monthly payment?

[Snowwhite]

How do you all prefer getting paid by parents (weekly or monthly) & standing order or cash? I usually say monthly and in advance for following month, but 1 new parent has asked for weekly but i'm unsure if that would work? Told her if i do it then its in advance for following week and has to be standing order not cash,but then thinking about it,if its standing order would that work out ok?
Also would it affect the notice period if i said weekly pay? I usually say to the montly payers that its 4 weeks written notice to end contract or to reduce days/hours

[tulip0803]

I have parents that pay me monthly, weekly, one pays each day (2 sessions) and one pays 4 weekly. I ask parents what is best for them, I would rather be flexible and be paid than be rigid and the parent struggles. Most pay me in cash (means a trip to the bank though), 2 pay cheque in advance with time to clear (could pay in post office but have cash to pay that they won't accept), 3 x direct bank transfers. Again I am flexible with how they pay as long as they do! I prefer bank transfer as I do not have to travel the 14 miles to the bank. Most parents like to pay me how they get paid hence the many weekly payers and the 4 weekly one.

My contracts all have 4 weeks notice to change/end the contract however the parent pays. I ensure that this is pointed out to the parent when we do the contracts.

With a direct bank transfer they are able to pay varying amounts as their bills tend to vary as some of the hours change due to shifts and it takes seconds once it is set up, but not everyone internet banks.

[Snowwhite]

Thanks tulip0803, but when a parent pays weekly and with cash then when would you receive the pament if child was off due to sickness,or you are on holiday or they are? Would you accept payment later than the day its meant to be payed or ask for more in advance if planned time off work.Just wondering how/if it would work?Thanks

[tulip0803]

You could take a deposit to cover care during the notice period (good practice against non-payers) and use this to cover a short period of no payment due to sickness, replacing it when they actually pay the money owed. Some minders take 4 weeks deposit, others 2 weeks. I do a case by case and see what they say.

My parents are pretty good - I had one not in last week and grandma dropped the money in later that day.

I had one ill and not in for the week before that - I was happy to wait till the next week for payment as they are a long standing family (2.5 years) and always pay on time. They paid for the 2 weeks no problem when they came back.

For holiday I am paid the week before they go.

It also depend on your income/outgoings and how desperately that money is needed for bills - I have been to collect money from a parent who's child is ill if they are unable to bring it to me. All my children are part-time so it is not huge amounts of money when paid weekly.

Childminding does involve a lot of trust - we are looking after their children, they are paying us and we tend to know nothing about them. We do need to work out how it will work out best for us so you ask for payment in advance - no payment = no care. I have been caught in the past with the sorry I will go to the cashpoint on the way home, oops sorry forgot - so I have got harder and expect payment before they next bring the child. I have late fees on my contract if they do not pay on time (but I am fair and apply only if parent is constantly late paying and not if I agree before hand like the ill child above)

I charge full contracted fee for parent/child absence but nothing if I am off. If I am unexpectedly off I credit it against the next month IYSWIM.

[Snowwhite]

Thankyou for your reply

[caz3007]

All mine have always paid in a way that suits them and I can honestly say I have never had a problem with payments

[tess1981]

I seem to get all weekly payments but this is what I have asked for anyway. Don't think I could do monthly as would never budget correctly lol and would feel deflated on a Friday when I wave goodbye to the children for the weekend and don't have cash for my effort every week iyswim. All my parents pay in arrears at the end of the week. If a child is sick last day of care for that week and it's before a Friday I say drop fee off any day up until Friday it always works out well. If they ill on the Friday parents normally drop it off that evening but I do tend to be away shortly after work on a Friday sso I have had to tell one parent leave it til Monday as I'm away and they were so annoyed they could not get up earlier I suppose I have great parents and we all try to help each other out like extra days when they ask or could X do homework this week as daddy minding them while mum was away on business trip. It means I feel I can ask them for favours too like swapping days so far works great!!!!