consolidation loans

How to Use Debt Consolidation Loans When Having a Baby

Whether you’re planning to give birth in a public system or in a private hospital, and regardless of your insurance coverage, having a baby is definitely costly. But, staring at the bundle of joy in your arm surpasses all worries-for after the pain, your baby’s smile is worth it all! That’s why debt consolidation comes handy at this opportune time. Not only will it help you pay for hospital expenses, it can also cover the expenses associated with having a baby.

Here are some tips to get the best clothes at the most affordable prices available…

Pick the right size.
Sometimes, the biggest factor affecting the price is the size. When it’s big, it’s more expensive; when it’s small it’s less-that’s what they all say, but the brand of the product may also affect the pricing. Get your baby’s approximate height and age so that the clothes you will buy would fit.

To avoid such hassle when checking child’s height, you could look at the clothes’ label so that you could see what ages it is suitable for. The sizes might not be exact when your baby first wears it, but buying a piece of clothing that’s about one size bigger isn’t going to hurt. Even if it might cost more than the clothing that is the exact size, when your baby grows bigger, at least you wouldn’t have to worry about buying another set of baby clothes since what you bought before still fits.

If you have family or friends who have had babies who have already grown out of their clothes and are willing to give them to your baby, then why not take it? It’ll be quite practical to accept them just so you could save more on the child’s clothes.

Choose designs wisely.
The design- colour, patterns- usually matters when it comes to kids. The colours used doesn’t only revolve around pink and blue, rather, the light and bright and bold and dark. Again, if any if you know anyone who has “old” baby clothes that they are no longer using, and aren’t planning on using it in the near future you could take the initiative to ask if they would still need them.

As a soon-to-be mother, becoming fashionable isn’t out of the question. Just because you have a baby bump doesn’t mean that you shouldn’t be stylish or at least think about what you should wear. When you go out or even just lounge around at home, wear your most ‘fashion-magazine worthy’ outfit and feel great about yourself.

Baby equipment

Your baby no matter how small he/she is will mostly take up a huge part of your home. So prepare for the pram, table, booster seats, cot, mattress, and the likes. If you already had kids, your precious angel wouldn’t mind ‘hand-me-downs’ (they won’t know it yet) from their siblings. First time parents with limited budget can also check if they have friends and relatives who are willing to part with their kids’ outgrown items. You can also check garage sales, second hand stores and thrift shops for cheap yet quality items.

Delivery costs

Antenatal classes can run in between $300 and up, and appointments with your obstetrician can cost an average of $1700 to $5000 or higher. Even moms who deliver in public hospitals may still have to shoulder an average of $392 (  Medibank Private’ study reveals that moms who deliver in private hospitals may have to pay up to $7500 for normal delivery and $8500 and up for cesarean section.

So, it is advisable for mothers with limited income to take advantage of public hospital benefits. While Medicare covers some of the costs in private deliveries, it will not pay for all of the associated costs. You may have to turn to your private insurance for higher coverage. But, if you have your own obstetrician and you want to give birth in a private hospital of your choice, you can always apply for a loan with us for the out-of-pocket expenses.

Off-time income

Ask your employer about maternity leave benefits. If you’re self-employed and you wouldn’t be able to work for a month or two, consolidating your loans so you can have some cash for you and your baby’s daily needs is a good idea. Not only will you roll of all your debts into one, you can simplify payment, reduce interests and probably raise your credit score by a few notches.

If you’re giving birth soon, we can help you. Learn more about debt consolidation by making an enquiry today.

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