Mothers' wardrobes suffer as they spend on tots
(16 June 2006)
A payday loan is the perfect cash injection for consumers looking to borrow some extra funds. Whether you need a financial boost to bankroll a special occasion or adjust to a new situation, a payday loan provides the solution to your problems. And given that a payday loan works for consumers in the short-term, customers are able to quickly readjust their finances while still splashing out on their wardrobes if they so desire.
It seems the trend for well dressed and stylish mums could be drawing to a close with the news that many mothers' wardrobes are seriously depleted as they spend all their funds decking out their tots in expensive clobber.
Research from financial services company Mint has this week revealed that a whopping two thirds (68 per cent) of mums with children under three spend more money on their kids' clothing than they do on their own.
And the amounts which mums are spending to make sure their beloved child is the coolest cat at the nursery are by no means negligible with an average of £406 being spent on the miniature wardrobe each year. Over half of mothers (55 per cent) admitted to having a penchant for decking their beloved in the latest miniature trainers while over a third (35 per cent) go for the D&G or CK designer products.
Jerry Toher, Mint managing director, said: "The financial pressures on modern mums are greater now than ever before without having to worry about budgeting for a baby's wardrobe."
However, all is not lost for fashion-conscious mums as there are a number of lending solutions which allow people to bridge the financial gap and ensure both mother and child have a top-notch wardrobe. A payday loan can act as the perfect tool to bridge the gap in family finances, providing a short-term solution and the means for mother and child to look fashionable.
With a payday loan, mums will be able to buy trendy accessories such as Bugaboo pushchairs, papooses and the latest juicers while still putting some aside for their own must-have fashion labels such as Jimmy Choo and Prada.
The time to get a payday loan may be sooner rather than later as the research figures also revealed that more than half of mothers (52 per cent) have had to drop their designer dress purchases while 43 per cent are leaving make-up purchases by the wayside and nine per cent are ditching buying footwear.
And with new figures from MyCallCredit released this week revealing how many UK consumers are comfortable with taking on borrowing, there really is no better time for a payday loan. The study showed that nine out of ten people in the UK are comfortable with their debts and remain optimistic about their financial situation.
Alison Nicholson, company director, said: "Debt only becomes a problem for people when they can't manage their repayments and the vast majority can, indeed three times as many people expect to reduce their debt burden over the next year than expect it to increase, which is good news."
Mr Nicholson's comments fit perfectly with the ethos of a payday loan which, rather than tying you in to ongoing endless lending agreements, simply provides you with a short-term financial solution to your borrowing needs whether it be new clothes or household bills.
A payday loan is the perfect option for consumers looking for a short-term financial solution. It provides customers with between £80 and £1,000 and alleviates any financial pressures before being repaid upon your next payday, with rates that are no higher than £25 for every £100 borrowed.
Selecting a cash advance from My Payday Loan ( http://www.mypaydayloan.co.uk ) is a great way to realign your financial situation providing cover for any unexpected expenses or even a little extra shopping budget for the month to make sure both mother and baby match in the fashion stakes.
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