I'm confusing myself!! Trying to work out an annual fee for a family

[mogs0]

I'm talking to family about possibly looking after their children and they want to be able to pay the same amount each month. I'm trying to work out any possible holidays I'll be taking over the next 12 months and deducting bank holidays (because I don't charge for either). I'm getting really muddled with the numbers. I can't find my calculator either so I'm having to work it out the old-fashioned way!!!

Surely there's got to be an easier way? Pluck a number out of thin air and x by 2?! That sounds much simpler to me!!!!!

Anyone else ever do this for families or does their fee vary each week?

Why don't you use the calculator on your pc? no answer for your actual question though...

You just need the number of weeks you'll be charging for, X fee X 2 divide by 52.
Er I think anyway. I had to work out my childcare costs for WTC last week and it took me ages to work out how to do it!

Oh in fact didvide by 12 since they are paying monthly not weekly.

Actually I forgot the bank holiday part so maybe you'd be better off working it out daily to start (or ignoring me because maths never has been my strong point)

So, work out your charges per day X 2 for two children.
Then work out how many days you won't be having them, weekends, weeks off and bank holidays.
Take that number from 365. Whatever you have left multiply by charge per day and then divide that number by 12 to get charge per month.

Et voila, you either have the monthly charge, or it'll be totaly wrong and you should have ignored me

Which days are you charging for?

Mon-Fri less bank holidays?

Or are term-time & holidays different?

Hadn't thought of usuing pc, thanks! (although, it'll prob take me ages to figure how to find it!!)

MW - the children are pre-school and school age so I need to work out a term time figure and a school holidays figure then I need to work out whether my holidays are going to be during term-time or the school holidays. Also, I'm trying to work out when the bank holidays fall (term-time or sch hols) and whether I've already accounted for them in my time off!!!

I'm making myself even more confused now!!!

I've got a figure now but if the parents ask me to explain I'll be stuffed because I have no idea how I got to it!! I think it look like reasonable rate though!! !!!

Use a spreadsheet

Put the dates for each week commencing down the left hand side (use fill)

Then add in your holidays in column 2

Then add in term-time/holidays in column 3

Then make column 4 equal the number of days in the week or hours in the day (IYSWIM)

Then make column 5 equal the charge per day

Then multiply the no of by the charge

Finally sum it and divide by 12

Eg
W/c 1/9 0(hol) 1Hol 4 tt £35 a day Hol £10TT Total £150

etc

(I've just confused you haven't I?)

Yes!!! If I knew how to do spreadsheets I'm sure it'd make perfect sence!! When I have a spare few hours I'll learn all about spreadsheets then future fee-calculations will be much easier!! Or, maybe I'll get my step-dad over (retired accountant) he LOVES spreadsheets!!!!!

Thanks for your help anyway!!

Get him over & set up a blank one

Then you can do it this way all the time

mogs, if you tell me your rate and the days off you have as holiday and if parents pay I will do it for you if you want?

my email is [email protected]

im very trusting and always get them to work it out lol. much easier

Navy - Thanks, that's very kind of you to offer! I think I've got a figure now that seems reasonable, I just needed a bit of peace and quiet in my house to be able to concentrate (probably shouldn't have chosen the weekend to sort it out!!), also would have been helpful if my calculator was where I left it!!!!!

I'm a bit of a geek and love to set up spreadsheets! Also home ill so pretty bored (not a total loser ). Well done getting it done though!

Fellow geek

I love spreadsheets - I do them for fun

I sometimes do a spreadsheet of my monthly shopping; although doing spreadsheets for no real reason is much better than doing the ones you have to do!

My tax one is completely not up to date

I have a shopping pro forma which we just fill in (in the order the aisles are in at tescos)

Mine is like that too!!! OMG this is shameful - I have unleashed revealed my inner geek on MN

they want a monthly fee so forget about bank holidays

just work out weekly rate times by 48 to allow 4 weeks off and divide by 12

do not forget to include a note on overtime in your note to them ie pick-up after xpm to be charged at £x per 15 mins

no I get it, but if parents want to pay monthly it's to go with their salaries ..so what, her fees go up a little bit, she's doing them a favour evening it out. That's what I'd do anyway

What was confusing me was the different rates for term/time and sch hols and when I'd be taking my holidays because the sch hols rate is a lot higher than t/t.

Anyway, I found my calculator last night (down the back of the sofa !) so I shall spend the afternoon calculating!!!!