Being a housewife is in itself a full time job. You have to do the housekeeping, cooking, doing the laundry, and several other necessary chores. Plus, if you have a kid, well that’s already considered overtime. But stay at home moms rarely get financially compensated for their hard work, it’s usually just a simple thank you, a kiss, a hug, and sometimes a get-out-of-jail free card, if you know what I mean.
But we all know that housewives need cash, too. Why? Well, oftentimes, mothers get to be the accountants of the household. They have to ensure that the cash on hand is good enough for daily needs like food, paying the bills, and for unexpected costs. And sometimes, the provider’s sole income is not enough for these needs. So what’s next?
A lot of moms nowadays are engaging in startup businesses. Sometimes it can be as simple as a traditional sari-sari store or it can even be an online selling job. But all of these still require capital. And if you’re barely scraping by, how are you going to get an initial capital? Why through a loan of course!
I know what you’re thinking. Can housewives even be granted a loan? These days, the answer is absolutely. As a stay at home mom, here are your options.
- For starters you can borrow money from your family, friends, or even your neighbors. This one obviously depends on your relationship with the people closest to you. This could either be your husband, your parents, your siblings, and even your kumares. It’s really not going to be easy. So perhaps if you’re planning to borrow money for a business, I suggest making them business partners instead.
- If you have a personal property of high value like gold or gemmed accessories, watches, or gadgets, you can have it pawned for a while. It’s quick and most of the time it doesn’t have a high interest rate. However, you risk losing your valuables if you can’t pay.
- Usually, starting a business requires a great amount of capital that family and even pawn shops can’t cover. So if you were able to convince this family member or friend to loan you but he or she just doesn’t have enough cash to spare at the moment, you can always ask him or her to be your guarantor when applying for a loan. But obviously, you risk losing your relationship in the unfortunate event that you can’t pay back your loan.
If all else fails, turn to the internet. There are now a lot of online private lending companies that are willing to grant a small loan for the unemployed… which sadly includes you. Just pass a few requirements and you’d get approved in no time! This is perfect for moms who just want to make ends meet.