We've heard from many parents and childminders that it's simpler and easier to pay the same flat amount each month for their childcare, rather than complex bills that vary from month to month.
This is why, when setting up your contract, we often calculate a flat monthly fee to cover the cost of the childcare you need.
How do you calculate the monthly fee?
We calculate your monthly fee as your weekly cost of care, multiplied by 52 weeks, spread over 12 monthly installments.
For example, if your childcare requirements were 15 hours per week, at £7.00 per hour, then the monthly fee (for a full-time contract) would be:
15 hours x £7.00 x 52 weeks / 12 = £455 per month
If your contract is term-time only, then we calculate it as 39 weeks of care, spread over 12 monthly installments. In the above example, this would be:
15 hours x £7.00 x 39 weeks / 12 = £341.25 per month
What happens if the contract ends early?
We'll always work it out so that the correct amount is paid for the total hours of childcare that have been delivered. This may mean that the final month's bill is reduced slightly to make sure it's correct and fair.