Can a Housewife Apply for a Loan Updated on May 2024
They say being a mom is working 24/7 with no salary and no day off.
A housewife gets up earlier than everybody else. As a mom, you must prepare your husband’s and kid’s breakfast, baon, and uniforms. Then, once they leave, you tend the house to keep it safe and squeaky clean for their return. If you still have small children, specifically a baby, you must simultaneously attend to all its needs and attention.
On top of that, being a housewife requires immense time management and financial management.
One of the challenging parts of being a housewife is trying to budget her husband’s income. It is a wonder how they can stretch the money despite unforeseen needs.
Children suddenly get sick, bills and grocery prices hike, and additional school fees happen when you think the budget is just enough for the usual daily needs. One way they do it is through a loan.
So, is there a loan for a housewife to apply for? Is it easy to qualify and get loan approval in times of emergency?
Find out the answers as we discuss instant cash loans designed for a housewife.
It is no secret that living paycheck to paycheck is not easy. “Sapat lang” is how most housewives describe their husbands’ salaries. Somehow, we all know that sometimes “sapat lang” will suddenly change to “kulang na kulang.” Of course, being responsible housewives, they will try to bridge the financial gap by getting a loan from various sources.
Housewives, especially moms, are resourceful. They will do anything for their family’s welfare without jeopardizing their children’s future. That’s why they have been our real-life heroes since then.
However, who can you turn to when you need financial help? On top of that, when should you seek financial aid?
We listed the top reasons why a housewife needs a quick loan cash.
As a stay-at-home mom or housewife, you see every nook and cranny of the house. You probably have memorized each part that needs repairs or replacements.
Unfortunately, being a housewife, acknowledging the needs of the house does not mean you can take urgent care of it. You don’t earn your personal income. Even if you want to fix your roof, you must wait for your husband’s next paycheck before acting. You have to include it as an additional burden to your expenses first.
But if a housewife applies for a loan, you can immediately finish the job. And the best part is that you can prevent your ceiling from leaking when it rains.
Every housewife’s biggest dilemma is getting a family member hospitalized. An hour in the emergency room already costs thousands of pesos, and even an outpatient checkup puts a hole in your wallet.
But if you delay any treatment of any illness, it may lead to a more traumatic experience. Every second counts when it comes to our health. That’s why you must bring your child to a doctor immediately.
Fortunately, you can take out a low-interest personal loan for this reason. You can get the medical treatment and medicines needed in an instant. Being a housewife is not a hindrance to applying for a loan.
A car is one of the basic necessities. It takes you wherever you and your family need to be. Your husband drives it to go to work on time. Or you could drive it to drop and pick up your children to and from school.
Because your car plays a crucial role in the family, it is essential to take care of it. Your vehicle is like a family member that needs regular check-ups and maintenance. There is a costly annual car registration procedure, and changing the tires is pricey. You might be overwhelmed by how much it costs to keep your car running smoothly.
Keep in mind that if you fail to do your part, it can cripple your family’s daily activities. It’s a good thing quick cash loans are available even to a housewife. You can apply for it and prepare your car for the next road trip.
If your washing machine breaks down unexpectedly, you must buy a new one immediately. This way, you can continuously wash your husband’s and students’ uniforms and your baby’s clothes.
Nowadays, household appliances can cost an arm and a leg. You can find cheap appliance stores, but they might cost more. Often, these things wear out in just a few weeks or months.
You must look for trusted brands that offer a warranty. However, these stuff come with a price. But if you look for a reliable moneylending company that approves an instant loan for a housewife, you can buy a new washing machine quickly.
Anyone in the family can experience burnout. Your husband might be tired from getting up early and coming home late for work, and your kids might be stressed from being swamped with schoolwork. As a housewife, you deserve a reward for caring for the entire family and house. That’s why a quick getaway or beach day is undoubtedly worth it.
But what comes before and after a trip? Expenses, expenses, expenses. You have to book transportation and accommodation. Don’t forget to include food and souvenirs in your budget.
However, don’t let expenses hinder you from enjoying time with your family. Money comes and goes, but a strong bond with your loved ones lasts longer. Being a housewife should not stop you from applying for a cash loan. Besides, the trip is for the entire family to enjoy.
Although every household experiences financial trouble, a housewife can apply for a loan for these reasons and in any situation your family needs.
You might wonder where a housewife like you can get a loan. You have plenty of options, but here are some possible ones.
If you have an emergency, you can likely run into your neighbor’s home to borrow some cash. They will lend you money without any interest if you are lucky enough. There will be no requirements at all. However, you need a good reputation as a borrower in your neighborhood.
Also, you can borrow from your relatives and friends. They usually let you extend your loan. If you say “bukas nalang,” they are generally forgiving and understanding (at least for the first few requests). However, I suggest not to overdo it.
There are many broken relationships just because of “utang.” Friendships and relationships have been wrecked because the borrower tries to avoid the lender instead of approaching the person and truthfully explaining why it is taking a long time to pay back. They say a good way to test a relationship is through money.
Once you break your relative, friend, or neighbor’s trust, expect other relatives or neighbors to know about it. Borrowing from people you are close to can ruin your name and your chances of borrowing again.
Pawnshops are also famous places where you can get instant money. They don’t care if you have previous unpaid loans as long as you have collateral. You can use your jewelry, watches, and gadgets to get some cash. Most people pawn their beloved rings, necklaces, or earrings, though these have sentimental value.
With pawnshops, you risk losing these items. If you fail to pay, the pawnshop will have the right to sell your pawned items to the highest bidder.
Another great disadvantage with pawnshops is the need for more valuable items to pawn. A pawnshop will not even glance at you if you have no collateral. If you have one, they might negotiate or bid for your item at a low price, which might not suffice for your urgent money needs.
Some lenders give loans if you can present a co-maker. They ask for minimum required documents as the co-maker is an assurance that the loan will be paid one way or another. However, (same with the point in number 1) you risk your personal relationship with your co-maker.
Most co-makers are friends or relatives of borrowers. If you fail to settle your loan on time, the lender will bother your co-maker to pay up for you.
My mom used to be the “go-to” co-maker of her friends. Sad to say, some of those “friends” ran away and left my mom to pay their dues. You can earn the money back but never gain back trust.
Many housewives borrow from 5-6. The loan is easy to acquire but has an interest rate of 20-30%. The lender usually goes from house to house and collects the money every day or every week. If you can’t pay up, they will come the next day.
Most loan sharks will just keep coming back. They will take some of your belongings if you continue to pay up. They also harass their borrowers until they settle their loans.
Loan sharks are illegal for these reasons. They are unregistered and take unnecessary actions just to collect your repayment. If a housewife applies for a loan from them, she risks the safety and security of the entire family. That would be the last thing you want to happen to your home.
Licensed lenders are responsible lenders who will let you borrow the amount they think you can repay easily. This will also help you build up your credit history. If you pay diligently, you can build a good credit score.
Your credit score is crucial if you and your husband plan to buy a car or a house because banks will use it to determine whether you are a good borrower.
In addition, patronizing a licensed lender can give you advantages such as waived fees and higher loan amounts. You can borrow more if you build a good relationship with your lender.
You will need one or two valid IDs, proof of billing, and a regular source of money. Don’t worry about the income. You can send your husband’s income to qualify.
Being a housewife is not a setback for you when applying for a quick loan in cash. You have many approachable options to choose from. It is up to you and your husband to decide which one you will apply for.
Income is the most vital factor when applying for a personal loan in Cash Mart. Since you are a housewife, you must prove you receive financial support regularly.
Let’s say your husband is a seaman or an OFW, you can use his remittance or allotment as your source of money.
If your husband or partner is a regular employee or self-employed
You can also apply for a loan if you have a micro business. You just need to provide your bank statements as proof of your income.
Before you apply for a housewife loan, you must consider the following:
You can get an NBI clearance, postal ID, and Voter’s ID even though you don’t have a job. All financial transactions require you to present an ID. Save yourself from the hassle. Get at least two valid government IDs when you have free time.
An unpaid balance may incur late payment penalties and additional interest rates. If you think you can’t pay on time, approach your lenders. Lenders just want to get their money back with interest. They will give you options to help you pay off your loan.
This will help you decide on the loan amount and tenure.
Credit: Cash Mart
In an online loan calculator, you can see and choose:
Important Note: The whole loan application process is online—no need to go to the office to make the applications personally. You only need a laptop or desktop computer for better web page navigation, a good internet connection for uninterrupted applications, and your clearly scanned documents.
Valuable Tip: Complete your required documents for faster loan application processing.
Being a housewife in one of the most overlooked jobs with no paychecks and rest days. However, it is the most fulfilling task no one can ever replace in your family. So don’t neglect and overstress yourself. Instead, reward yourself by applying for stress-free loans from Cash Mart.
If you need more information, feel free to call Cash Mart at 829-000 today.
