The birth of a child is the most beautiful event in the life of each parent. But with a small baby, there is a big expense. One-off ones include the purchase of a cot, stroller and car seat. Regularly pull out your wallet for diapers, cosmetics, clothing and special baby food. Interventions in the family budget are simply more than noticeable.
Many mothers thus find a non-bank loan a suitable solution and do not realize that they are very vulnerable due to their limited income.
Maternity and parental leave in 2016
Maternity leave or maternity benefit is a form of sickness insurance. Expectant mothers start maternity leave around the sixth to eighth weeks before the date of birth and, depending on the number of children, it takes 28-37 weeks. Maternity pay for employed women is 70% of gross wage, for self-employed the calculation is more complicated.
Parental leave is linked to maternity leave, it is also entitled to a mother who is not entitled to maternity leave and it is only up to parents how long it will be. The amount of the contribution is 220 thousand crowns and the amount of the monthly contribution will be adjusted according to the duration.
Take loans with caution
For women on maternity or parental leave, a non-bank loan should be the last resort to solving financial problems. They are slightly more suitable for women who live with a husband or a partner. They are not alone in repaying the loan and taking care of the child.
A non-bank loan is also an option for women who earn as a self-employed person on parental leave. This secondary income is not limited and you can do business from home. How about selling internet handmade knitwear for babies or writing articles for a web site about maternity?
To sum up, a non-bank loan on parental leave pays off to women who do not rely solely on parental leave. Otherwise, any unexpected expenditure could complicate the situation.
When to avoid a loan
Single mothers without secondary income are already in a difficult situation and a disadvantageous quick loan can easily make it worse. Therefore, before you review creditors’ offers, make sure you are not eligible for any material need. If there is no other way, pay special attention to your loan selection.
Definitely do not focus on the market only by offering loans for women on maternity leave. These offers are rarely truly beneficial and only try to give an impression of exclusivity to fresh mothers. Avoid lenders who do not consult the debtors’ register. Checking your ability to repay serves to protect yourself from being trapped in a debt trap.
Whatever your chosen non-bank loan is, read the terms and conditions and look for sanctions – for the lender, the maternity loan is at risk, so they keep their money safe with high fees.