Article Categories
» Arts & Entertainment
» Automotive
» Business
» Careers & Jobs
» Education & Reference
» Finance
» Food & Drink
» Health & Fitness
» Home & Family
» Internet & Online Businesses
» Miscellaneous
» Self Improvement
» Shopping
» Society & News
» Sports & Recreation
» Technology
» Travel & Leisure
» Writing & Speaking

  Listed Article

  Category: Articles » Finance » Article
 

Mothers' wardrobes suffer as they spend on tots




By Richard Vert

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.

This research shows that the amounts which mums are currently 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.

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.

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."

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.

However, all is not lost for fashion-conscious mums as there are a number of lending solutions which allow people to quickly bridge the financial gap, covering unexpected temporary shortfalls and ensure both mother and child have a top-notch wardrobe. For some mothers, a "payday loan" can provide a useful short-term solution and possibly a means for mother and child to both look fashionable. While traditional loans may be the most suitable means of borrowing funds over a prolonged period of time, making repayments over several months or years, family finances can often require a quick fix solution to cover immediate expenses such as new clothes, electrical repairs, or unexpected general household bills, rather than getting tied in to ongoing endless lending agreements.

The growth in recent years of specialist short term loan companies such as My Payday Loan, has shown that here is a very definite need for these types of payday loan solutions to help alleviate family financial pressures for brief periods, until the next payday, and that most consumers are able to borrow responsibly.

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."

New figures from MyCallCredit released this week reveal that many UK consumers state they are happy with their levels of borrowing. The study showed that nine out of ten people in the UK expressed that they were comfortable with their debts and that they were remaining optimistic about their financial situation.



Disclaimer:

All information contained in this article, is for general information purposes in the UK only and should not be construed as advice under the Financial Services Act 1986.

You are strongly advised to take appropriate professional and legal advice before entering into any binding contracts.
 
 
About the Author


Article Source: http://www.simplysearch4it.com/article/30224.html
 
If you wish to add the above article to your website or newsletters then please include the "Article Source: http://www.simplysearch4it.com/article/30224.html" as shown above and make it hyperlinked.



  Some other articles by Richard Vert
Leipzig welcomes fans for the World Cup 2006
12 German cities will be showcasing themselves to the world this summer as the host cities to the FIFA World Cup 2006. For ...

Hanover hit by influx of World Cup fans
The World Cup in Germany this summer will bring with it an additional 3-4 million visitors to Germany this June. The twelve host cities have been preparing in earnest for the event since the announcement of the ...

  
  Recent Articles
Tenants With Poor Credit Even Enjoys Loan
by Turk Malloy

The UK Consumer's Guide to Shopping for Car Insurance Online
by Mary Simone

Are You Throwing Your Money Away?
by John Cranley

Easy personal loan to finance your desire!
by frank howard

Bad credit consumers can still find sources of financial assistance
by Martin McAllister

Setting up a Merchant Account
by John Tillman

Individual Voluntary Arrangement: How Does It Work?
by Martin McAllister

Stop Foreclosure - We buy houses
by Ron victor

Tax foreclosures property investment could be a nightmare investment
by mike

Spotting tax foreclosure property in USA
by mike

Making money online is virualy free
by Phill Evans

Online Criminal Background Checks: Importance & Ease
by Asel Retrac

Your Debt Free Plan for the New Year
by Cornie Herring

Invoice Factoring: An Effective Alternative For Small Businesses
by Christine Macguire

Home improvement loans: The easiest way to live in your dream home!
by reethi rai

Financial Myths vs. Financial Facts
by Gregg Elberg

Can't connect to database