After a baby is born, one parent usually stays at home to take care of the newborn. After all, there is nothing better than experiencing the first years of your life up close and building a close bond with your child.
But for this personal luxury, most have to pay a high price, because if only one partner goes to work, the income automatically drops. In the first year after the birth of your child, you will receive parental allowance, which is a fraction of your previous income. After that, you have a choice: stay at home or return to your old job?
Credit despite parental allowance – financial help for new parents
Of course, high costs can also arise during parental leave, for example if the car breaks down or the living room needs to be renovated. With only a fixed income and parental allowance, it becomes difficult to cover all expenses. For this reason, many want a loan despite parental allowance. A loan in spite of parental allowance is possible if your partner earns enough and you have debt under control even without parental allowance. After all, the parental allowance is only paid for a limited period of time and is therefore not seen by the banks as a loan security. Of course, the chances of getting a loan increase if your partner earns a lot or if you can offer the bank other collateral (e.g. home ownership, appointment of a guarantor).
Credit despite parental allowance – saving is important
Since money is usually scarce during parental leave, you should save as much as possible. It starts with electricity and ends with credit. For this reason, it is important that you do not simply accept any offer, but that you inform yourself well and that you carefully treat your bank’s suggestions.
You can find a cheap and advantageous loan on the Internet, where there is now a large selection of online banks. This gives you the opportunity to choose the best offer. However, keep in mind that the quality of a loan is measured not only by low interest rates, but also by other conditions. Whether long terms, low monthly installments or opportunities for special repayments – the overall picture is crucial.