Charging hourly or flat rate?

[wdmmom]

I'm just curious what the common practice in your area is?

I'm in central Iowa and it seems to be the common practice to charge a weekly flat rate regardless of attendance. (I offer a 4% discount for families that pay monthly rather than weekly.)

I'm formerly from eastern Iowa where it seems to be common to charge by the hour. Including centers. I think within the last few years, this is slowly starting to change. And the going rate is about half as much as where I am now.

Do you charge by the hour, day, week, month, etc.

[pfund2233]

I always have and currently still charge an hourly rate and don't charge if the child is NOT in my care. BUT... I sent home a letter on Monday stating this is all changing!!! As of Oct 31 parents will be charged a flat daily rate of $25 per day per kid... and they will even have to pay when the child isn't here because they are not just paying for services but also for their child's spot. The parents took to the change very well!! And well if they decide to leave good luck to them and I'll call one of the 5 families I have on my wait list!!

[Cat Herder]

Weekly, flat rate, regardless of attendance .

Once they limited us to 6 kids total (not just appropriate age ratios per provider), it was the only way to have a stable income.

There are also other reasons it works best for me, though:

* Having multiple schedules/rates to juggle, enforce and document (attendance records kept for two years) is exhausting.

* Having different kids in and out different days makes for an unstable learning/playing/resting environment leading to early burnout.

* Having more adult issues than absolutely necessary to deal with is exhausting.

* Having a documented steady income (that you can easily prove with bank deposit history) greatly improves your credit rating for home improvement/college loans.

[momma2girls]

Originally Posted by pfund2233

I always have and currently still charge an hourly rate and don't charge if the child is NOT in my care. BUT... I sent home a letter on Monday stating this is all changing!!! As of Oct 31 parents will be charged a flat daily rate of $25 per day per kid... and they will even have to pay when the child isn't here because they are not just paying for services but also for their child's spot. The parents took to the change very well!! And well if they decide to leave good luck to them and I'll call one of the 5 families I have on my wait list!!

Good for you!!!

[momma2girls]

I have been providing care now for 9 yrs. and I have always charged one flat rate, regardless if they are here or not- I have only went up on my rates twice, in all those yrs. Next yr. I am increasing my sibling rate, starting Jan. 1st 2012