thatdivalady 05:58 AM 07-14-2012
I know there are threads about weekly to monthly conversion and vice versa, but I'm just checking. These conversions do not apply for when parents choose to pay every other week, correct.
Meeko 09:37 AM 07-14-2012
If paying every other week, they just pay the weekly rate multiplied by 2.
If paying twice a month, it would be the monthly rate divided by two.
I get it that some people just don't have the "math" noggin. But really, it's so simple when you break it down. Simply figure out what your charge is PER YEAR, and go from there.
If you charge by the month, you are charging (example) $500 X 12 months, or $6000 per year.
If you charge by the week, you are charging (example) $115 X 52 weeks, or $5980 per year.
To convert monthly to weekly, just take the $6000 and divide by 52 weeks to get the weekly amount of $115.38
To convert weekly to monthly, just take the $5980 and divide by 12 months to get the monthly amount of $498.33
I'm not criticizing anyone at all. I realize some have better math brains than others. It's just genetics. If you think of it in terms of what it is per YEAR, you have it made.
thatdivalady 07:57 AM 07-15-2012
I actually have a conversion sheet for weekly to monthly and monthly back to weekly as well as bi-monthly. But my actual question is, if they are paying every other week then I am actually not short any money at the end of the year, correct?
Sprouts 11:25 PM 07-15-2012
Originally Posted by thatdivalady:
I actually have a conversion sheet for weekly to monthly and monthly back to weekly as well as bi-monthly. But my actual question is, if they are paying every other week then I am actually not short any money at the end of the year, correct?
I just did the math and yes its the same. so if your weekly rate is 150....
$150 x 52 weeks= $7,800 per year
52 weeks / 2 = 26 "doubled" weeks x $300= $7,800
And if you get paid by month, you loose out considerabley if you calculate every month by 4 weeks
$150 x 4 weeks= $600 x 12 months= $7,200 per year
Instead it would need to multiplied by 4.33 weeks (52 weeks/12 months = 4.3333333)
$150 x 4.333333 weeks= $649.9995 x 12 months= $7,799.9995
thatdivalady 08:59 PM 07-17-2012
Originally Posted by Sprouts:
I just did the math and yes its the same. so if your weekly rate is 150....
$150 x 52 weeks= $7,800 per year
52 weeks / 2 = 26 "doubled" weeks x $300= $7,800
And if you get paid by month, you loose out considerabley if you calculate every month by 4 weeks
$150 x 4 weeks= $600 x 12 months= $7,200 per year
Instead it would need to multiplied by 4.33 weeks (52 weeks/12 months = 4.3333333)
$150 x 4.333333 weeks= $649.9995 x 12 months= $7,799.9995
Thank you so much!