Quote Originally Posted by Fearlessbaby View Post
I do have a daily rate fee which is in both of their contracts- I gave them the flat monthly fee verbally because they both used to pay every 2 weeks but felt the monthly fee was more convenient. I think I should stay quiet for now, until I get a new dck or 2, then I'd feel more comfortable bringing it up. They've both been with me for over a year and I really like the kids. I've had issues with one dc dad not paying on time, but I had him sign a contract about that recently. I've already changed my contract to include calculating the # of days for any new parent paying monthly. If I do start getting bitter- I may bring it up in a couple of months.
I think if your contract says daily rate and you only gave monthly rate verbally, then that is whole different situation all round.

A written contract always, always, over-rides a verbal agreement which is why, if you ever come to a new agreement it recommended that the changes recorded in writing otherwise old written contract is enforceable.

Since you have a daily rate right in contract, then I would sit down and state you are undercharging them, that the monthly rate you gave verbally was based on working 20 days but in reality it should be higher. Have calendar with you to show parent that really is more than 20 working day each month.

Also, before you sit for conversation, think about how you are going to do a monthly rate.

There are two ways I know of.

Flat rate x (365 days a year - 104 weekend days a year - any unpaid annual leave you take - any unpaid stats days/public days you close) = Flat rate x number days you are actually working. The divide that by 12 gives a monthly rate.

Variable Rate = Based on number of working days for the month. This change sometimes as some month there is more working day. You would need to decide way to notify parent what the rate is each month.