How much to pay?

Unknown2014

Hi everyone just wondering if anyone can help? Going to be minding my sisters 11 month old baby while she returns to work. It will be Monday to Friday approximately 8am to 6pm I will also have my own 3 1/2 year old with me for most of the day apart from when he goes to Montessori in the mornings, my sister will provide stuff she needs like nappies a dinner formula I will give snacks ect throughout day and buy bits and bobs along the way if course as she is my niece after all not going to be keeping track of every penny I spend on her and won't be asking for that money bk I'll go the park swimming ect with her, we just don't know how much would be reasonable for me to charge and her to pay? Obviously it has to make financial sense for my sister to go back to work in the first place and also this will be my only income as I'm giving up my job to do it as it will suit me and her, it was just minimum wage paid job in a shop nothing crazy! Any help or advice for us both would be very helpful! Thanks! ðŸ‘ðŸ˜႒

lazygal

Where we live the rate for full time minding is between €45-55 per day. I would sort out every single thing in advance because it can become difficult to renegotiate things later on. I wouldn't undercharge because you will start to resent the job.

pwurple

I would charge what you were earning per week in the shop... As that is what you are losing out on.

Also, make sure you figure out the tax implications, what you need to declare, etc.

ted1

pwurple wrote: »

I would charge what you were earning per week in the shop... As that is what you are losing out on.

Also, make sure you figure out the tax implications, what you need to declare, etc.

She'll be at home with her own kid it's not the same. She also more than likely won't be paying tax and if she is she can register for PRSI at a discounted rate.

The going rate is between 6- 8 an hour

How Strange

I think if is a regular mon-fri thing then charge a monthly amount. €750 per month works out around €35 per day if you base it on 21 working days a month. €800 is just under €40 per day.

I also think you'd be better off financially if you charge a lower flat rate but over 12 months so you get paid for holidays, bank holidays etc. That way you have the same income every month.

Unknown2014

Unknown2014 wrote: »

Hi everyone just wondering if anyone can help? Going to be minding my sisters 11 month old baby while she returns to work. It will be Monday to Friday approximately 8am to 6pm I will also have my own 3 1/2 year old with me for most of the day apart from when he goes to Montessori in the mornings, my sister will provide stuff she needs like nappies a dinner formula I will give snacks ect throughout day and buy bits and bobs along the way if course as she is my niece after all not going to be keeping track of every penny I spend on her and won't be asking for that money bk I'll go the park swimming ect with her, we just don't know how much would be reasonable for me to charge and her to pay? Obviously it has to make financial sense for my sister to go back to work in the first place and also this will be my only income as I'm giving up my job to do it as it will suit me and her, it was just minimum wage paid job in a shop nothing crazy! Any help or advice for us both would be very helpful! Thanks! ðŸ‘ðŸ˜႒

1

Barely There

pwurple wrote: »

I would charge what you were earning per week in the shop... As that is what you are losing out on.

Also, make sure you figure out the tax implications, what you need to declare, etc.

That'd be zero I'd imagine for most people.

Moonbeam

you need to declare it all but can earn 15k tax free and just pay a set rate of PRSI.
www.childminding.ie has info about it.

AlanG

Child minding in our area is about 30 - 35 per day in the minders home. Much more than that and you could get a creche with trained professionals and a curriculum.