If you’re a parent, then you know all too well the challenges and expense of having children: after-school activities, clothes, doctor's appointments, and a thousand other expenditures are constantly chipping away at your budget. Being a parent is hard enough without money worries and life can quickly turn into a juggling act of trying to keep up with all the expenses raising children can entail.
As a parent, one way you can provide for your kids in a pinch is with a title loan. What is a title loan? They are fast, short-term loans that use your car’s title to secure cash amounts up to $15,000, regardless of your credit score. This doesn’t mean you lose access to your car after taking out a title loan; you have places to be and kids that rely on you for transportation. During the time you are repaying your loan you can keep and drive your vehicle as usual.
So how can you responsibly use a title loan when you’re a parent? Simple. Having a fast cash option could help you keep up with the latest emergency and keep it from seriously impacting your kid’s lives. Here are a few common reasons more and more parents are using title loans to stay one step ahead of life’s challenges.
Keeping a roof over your kids’ head is the number one job you have as a parent, and also one of the most expensive. Paying rent or making mortgage payments is an endless cycle, and one that usually is due at the beginning of the month when everything else is due. Title loans can help ease that burden. For example, if you’re just a couple days from your next paycheck but need to pay rent today, a title loan is a solid way of bridging that gap.
Just like with rent or mortgage payments, the endless flow of bills is unrelenting. Unfortunately, not paying them on time can have much more immediate downsides than the rent; some utility companies will turn off your power, water, or internet without hesitation. Late payments can also result in additional fees, reconnection fees and damage to your credit. Keeping the electricity on for your kids is no small matter, and well worth taking out a title loan for.
Even if your kids aren’t in the latest and greatest styles, they keep growing out of things. Making sure your children are ready for each season means buying them new clothes, shoes and coats on a fairly regular basis. This is especially true at the start of a new school year, when they’ll need to add at least a few key items to their wardrobe, more if their school activities require it.
It’s been proven in study after study that the best way to reduce overall healthcare costs is with aggressive, preventative care. The vast majority of medical conditions can be caught or contained with good preemptive care. Knowing your kid has peanut allergies is cheaper than finding out after they have to go to the emergency room and you have to pay the accompanying bill. A little investment now can save you a lot of money down the road, and a title loan lets you do just that.
Dental bills can also be drastically reduced with just a little prevention on your part. Not only should you invest in good toothbrushes and fluoride for your kids to use on a nightly basis, but twice-yearly teeth cleanings are vital to keeping cavities and infections away. Besides, who doesn’t appreciate a nice pearly white smile?
Being a parent is one of the hardest jobs out there, and it never seems like you have enough money. Hopefully, this list has given you a good idea of how you could use a title loan to help overcome your financial challenges and make sure your kids have the best upbringing that you can provide them with.