frugalmama4 10:59 AM 12-31-2012
Happy New Year all!
Quick question. Changing my rate to $130.00 per-week, please help me calculator the 52 week thing.
What I got-
52 x 130.00=6760.00
6760.00 / 12mo= 563.33 (will round down)
563.00/4weeks (in a month)=140.75
So how much would they pay if paying every two weeks?
$140.75 x2 =281.50...right?
so the difference from 130.00-140.75=10.75
10.75x52= 559.00 (so the extra 10.75 covers 4weeks of pay for the year?)
I don't know what's wrong with my brain...I'm acting like a dcp...just not getting it today?
Help me pls.
Thx
My Daycare 11:18 AM 12-31-2012
6760 divided by 26 Weeks equals $260 every two weeks. I think.
Fruitloops1 11:50 AM 12-31-2012
Originally Posted by My Daycare:
6760 divided by 26 Weeks equals $260 every two weeks. I think.
I thought the same thing. The yearly divided by 26 weeks a year. Which ends up being $260.00 every two weeks.
So there will be two months (maybe 3) a year that they will be paying 3 times in one month(if paydays are Fridays or Mondays).
Are you trying to do semi-monthly? Where families pay on the same two dates every month? Like the 15th and 30th?
DCMom 11:53 AM 12-31-2012
I have one family that pays monthly, one that pays semi-monthly.
I just count the Mondays (my payday) in the month x weekly rate = the monthly payment and /2 = the 15th & last day of the month payment.
It's worked so far
Originally Posted by My Daycare:
6760 divided by 26 Weeks equals $260 every two weeks. I think.
This if it is every 2 weeks and not twice a month. Because if they pay every 2 weeks, they pay 26 times a year and if they pay twice a month, they pay 24 times per year.
frugalmama4 01:06 PM 12-31-2012
It would be every two weeks they would pay.
My pay days are Friday's (everyone pays a week in advance).
I need to make sure I'm not losing any $$$ when we have 5weeks in a month.
Thx
You aren't losing money for the year, but some months you will be paid 2 times and others 3 times, so your monthly income will be different 2 months a year.
Crazy8 01:16 PM 12-31-2012
every 2 weeks is VERY different than 2x a month. If your rate is $130/week they would pay $260 every 2 weeks. How many weeks in a month would have nothing to do with it because they will pay you every 2 weeks regardless of where you are in the month or how many friday's in the month, etc.
You would only use the 26 weeks calculation if they were paying bi-monthly (twice a month, like 1st & 15th).