The Green Eyed Monster

Today's blog entry is sure to stir some controversy. Some things need to be said though and I am more than willing to be the object of disdain for having brought a topic to the surface. Today I want to talk about money. Money, money, money. If there is one subject that will make people more uncomfortable then I don't know what it is. We need money. There is no way around it. Unless you want to live as a Tibetan monk sporting bare feet and a scratchy robe you will need money. As daycare providers we work for money. We don't wipe bums and noses for free and I dare suspect that even if we could afford to work for free few of us would. Fair work is deserving of fair pay.

I want to ask you a question and I want you to take a second and answer it honestly.

How many times have you struggled with finances or wanted to raise your fees or charge for statutory holidays but you didn't because you felt "bad" for the families in care? Come on now, be completely honest with yourself. My guess is that if you are being honest then you will recognize that you too have allowed you and your family to go without a fair and reasonable income because you assumed that the finances of your daycare families were more important than your own. After all, as daycare providers we do not have the expense of daycare ourselves. But, don't be fooled. Even though we do not have to hand over upwards of two hundred dollars a week in daycare fees neither do the families in care have to pay to feed and entertain five children each and every day. My point is that you DO have 'daycare fees'. The only difference is that you pay for other children to have a safe and fun daycare instead of paying someone else for that service.

Recently, while advertising for available spots within my daycare I changed an ad to reflect a fee of $35 per day instead of $36 per day. I had fully planned to raise my rates in January 2010 and I thought it pertinent to advertise at a rate closer to my predetermined annual increase rather than start a child off in care and change the rate three or four months later. I did in fact sign on one family at the advertised rate of $36 but will admit that I felt some guilt when later in the month I signed on another family at the changed rate of $35. I even considered changing the $36 family to be in line with the rate the other families were paying. That was of course, until I realized my mistake.

There is a lot of resentment in the minds of daycare providers who feel they have shorted themselves what is fair and reasonable for the job they do. Resentment is a human emotion and is deserving of attention if you start to feel those pangs of animosity. Take a minute to read any book whose topic is psychology and you will understand that resentment is a warning flag that you do not feel at peace and have a general sentiment of not receiving what it is your self-worth deems appropriate.

The other day I watched my new daycare family pull up in their shiny new BMW. It didn't take long for my guilt at charging them the 2010 rate four months early to wane. After all, money is about priorities and I can only assume, as a parent, that my choice of daycare fees would come after my choice of car to purchase. In short, I assume they can afford the rate. And if they can't? Well, as I have always said, money is about priorities.

I recently lost a long term flexible family who, when forewarned of the changes in the 2010 contract, did not wish to pay for a minimum number of care days a week. I was shocked and hurt; hurt because it was me, and not them, who allowed myself to be put in a position over the last five years of losing money. I felt "bad" for them. Two kids in daycare and two parents struggling to make ends meet. I overlooked small things over the years like the fact that the oldest child had three new winter coats in one season, always had the latest fashions and the newest toy to hit the shelves. But, it was when their new van appeared in my driveway that I started to realize what a fool I had been. Top of the line, newest van to come off the assembly line with all the options sat there in my driveway and I was literally losing money keeping them in care.

This family has been gone now for about two weeks. One day I sat down and went through the calendar for the last five years. I tallied up their total daycare payments. Then, I calculated how much I could have earned had they been any other daycare family subject to a minimum scheduled number of days and paying the same daily rate as everyone else. To my surprise and astonishment I discovered that over the last five years I lost $19,000. Yep, you read it correctly - $19,000!!! Yes, all that because in some small way my bleeding heart allowed emotion to take over business.

Daycare is daycare and money is money. There will always be a daycare parent sporting the newest BMW, the newest Tommy Hilfiger jeans and carrying their Starbucks coffee. I don't begrudge anyone these things. But please, oh please do not complain about my rate increase in January while you sip your morning four dollar latte while you pull your cheque book out of your Gucci handbag.

In short, just charge what you feel is important and fair to YOU. Of course, the market has to be considered. There is a set-point for any product or service. But don't ever feel bad for the rate you charge. And whatever you do, if you feel those pangs of resentment pay attention to them and do whatever it is you need to do to diminish those feelings. Your peace of mind is all you have. Be the one to offer the self-respect you deserve. No one else will.

For concerns, advice or suggestions I welcome your email at judytrickett@yahoo.ca