New mothers have a lot of things to worry about, but payday loans shouldn?t be one of them. Preparing for the arrival of a new baby is a challenge, mentally, physically, and financially. Adding the stress of repaying a payday advance to an already worrisome situation is a recipe for disaster. However, women in the 24-40 year old demographic?an age group that corresponds with the childbearing years?are the most likely to utilize payday loan services. Women in this age group may be more likely to utilize payday lender services for a variety of reasons.
The combination of limited work hours and the high costs of caring for an infant is bound to financially challenge many mothers, especially if they are raising said child on their own. Such financial hardship makes them strong candidates for payday loan usage, as they need to care for their children yet don?t always have the means to do so. Raising a child is expensive, and the first year may be the most costly of all. Buying clothes, diapers, food, strollers, furniture, car seats, and baby proofing one?s house are just a few of the expenses associated with the stork?s arrival. Clearly, new mothers have a lot of expenses to juggle, and doing so with a brand new baby is not an easy task. Some preventive measures can be taken, however, to keep a new mom out of the payday loan office.
*Refurbish old furniture and save on decorating the nursery. One of the best things about decorating for a baby is that you can have a lot of fun with it. Have an old, worn dresser or armoire in your house? Paint it a kid friendly color and change out the hardware to make it a new, individualized, and fun nursery piece. A can of paint and a few nobs are much cheaper than the interest on a payday loan, not to mention the cost of buying a new piece of furniture.
*Shop at thrift stores and yard sales for lightly-used strollers, car seats, high chairs, and furniture. Babies grow fast; thus, the aforementioned items are often only used for a brief period of time before the baby has outgrown them. By purchasing these items pre-owned, a new mom can save money while contributing to another family. The family who is selling the item could likely use the extra income too, thus the purchase is a win-win.
*Don?t be too proud to take hand me downs from family and friends. Baby clothes get little wear, as the little ones grow so quickly. If you have a friend or family member with old clothes they are willing to donate, take them. Doing so will free up some storage space in the friends/families house and keep your baby snug and fashionable without breaking the bank.
*Have a baby shower with a diaper raffle. A baby shower is a great environment to share with your friends and family the love and excitement that a new baby brings. Along with gifts of clothes and baby necessities, baby showers give a new mom the chance to acquire diapers, which are unbelievably expensive. Have a diaper raffle at your shower, wherein each guest gets a raffle ticket for each pack of diapers that they bring. Whoever wins the raffle receives a nice gift, like a dinner gift certificate or massage. The cost of the gift will be far less than the cost of the diapers and save the new mom a bundle.
By following these tips, a new mom can avoid payday loans and provide for her new addition. When a little extra cash in needed, getting a payday loan may be fastest and easiest. Keep in mind, the money you borrow is expected to be paid back with your next paycheck. Most new moms are still at home with their baby and may not have the proper source of income to be in a borrowing position.
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