Parenting is both rewarding and difficult. Part of what makes parenting so difficult is the costs related to child care expenses. From school supplies, clothes, and groceries to everything in between, many parents struggle to make ends meet. If you find yourself living paycheck-to-paycheck, you are not alone. Approximately 75 percent of Americans live that way. Fortunately, there are a few ways a payday loan can help ease the burden on your shoulders.
Assistance with School Supplies
Parents can spend anywhere from $100 to $400 on school supplies per child each year. On average, families end up having approximately two children. Only a mere 28 percent of families have three or more children. Although school supplies might be an expected expense at the beginning of every school year, that does not make it any easier for families on a budget.
When you are already strapped for cash, paying for school supplies may seem impossible. Fortunately, a payday loan can help ease that burden. You can gain access to money between pay periods, which allows you to make the purchases you need when you need to make them. You will either have to pay back the loan with your next check or over a certain amount of time using a payment arrangement.
Help with Food Costs
The USDA highlights the cost of nutritious foods for children, men, women, and families broken down over four categories. The categories range from a thrifty plan to a liberal plan. For a family of four, a thrifty plan could cost anywhere from approximately $563 to $647 monthly, whereas a liberal plan could cost between $1,100 and $1,284 monthly.
It is important to keep in mind that your grocery bill will fluctuate depending on the age of your children. For example, parents with children between the ages 10 and 13 typically find that their money goes more toward food and electronics compared to parents with children in any other age group.
Although a thrifty grocery budgeting plan may work out for some families, others who have special needs children could find themselves spending more on the cost of groceries. Again, this is where a payday loan can help. If you find that you are in need of staple foods such as eggs, milk, bread, and cereal, you can borrow the money you need in between paychecks.
Aid with Clothing
Children often experiences growth spurts, and those growth spurts may have you making an emergency run to the store for new shoes, pants, or shirts. If you have a daughter, do not be surprised if she experiences a growth spurt somewhere in between the ages of 10 and 14. If you have a son, do not be surprised if his growth does not slow or even stop until approximately 16 years of age.
If your children are under the age of approximately 15 or 16 years old, it is safe to assume you are going to need to continually update their wardrobe. Parents often spend approximately $28 to $44 a month on clothing for infants and toddlers and approximately $52 to $78 per month on clothing for teens. The amount a family spends on clothing may also depend on the family's income. Lower income families typically spend less, whereas families with more of an expendable income spend more.
If you find yourself on the lower end of the spectrum, having to purchase new clothes for your children every month or even every couple of months may seem impossible. Fortunately, a payday loan can assist you in offsetting that burden. You can acquire a payday loan in the amount that you need, therefore allowing you to purchase clothes when you are in a pinch.
Keep in mind that payday loans are only short-term loans and should be used as such. Speak with a payday loan professional and visit a site like http://money4youpaydayloans.com to determine if a payday loan is right for you. If you are looking to cover expenses between paychecks and you have the ability to pay it back with your next check, then it is worth looking into. The best piece of advice you can follow is to never borrow more than you need or more than you are able to pay back.
Share31 August 2015
One thing I have always been good with is money. Even in high school, I always had a savings from my allowance and from working for the neighbors. I created this blog to help other young people understand the importance of financial responsibility even at a young age. If we start our adult lives knowing about financial responsibility, we can make it further in our lives before we suffer from the devastation of financial mistakes that can take years and years to pay back. Hopefully, what you learn here will help you avoid those financial mistakes and maybe help you recover from the ones you've already made.