Finance

Middle Class Families And Their Struggle With Money

Many middle class families are struggling to make ends meet. They go through so many problems just to keep their families happy with having three meals a day. There are families who have two meals and for the third meal they find it difficult where the parent forfeit their food just to feed their children. Moreover when their children ask for something new like a toy they try to work extra hours to get what the children wants. Sometime this would mean the children not seeing their parents for days since one of them will be working extra hours to get what the children wants. This is a constant struggle for the middle class families.

Loan

Things people do to make their families happy

During festival seasons many middle class families goes through financial crisis. As this time they need to have excess cash to buy gifts and festive food for their families. Most people go for payday loan where they would borrow their month’s salary for very high interest rates and write a cheque to the lender of their month salary and the extra amount for the interest rate. This practice is most common in middle class family homes. And they struggle through the next month finding some extra work to pay off the loan as well as the family expenses.

Another method of borrowing cash is quick cash loan where people go for money loans with high interest rates. The repayment plans are flexible with these places. However you end up paying triple the amount you borrowed. Best parts about these places are they give you the cash immediately and they do not check your credit rating. Therefore the opportunity for the people to get money loans during festival seasons and pay off in installments will allow a breathing space for them to borrow money and enjoy the season. However the repayment could prove to be tough since a large sum will have to be paid to the lender.

Making ends meet

Some families go in to so much trouble to make ends meet that their whole life they work to pay off the loans they take to complete their children’s studies, car loans, housing mortgages etc. These loans are struggles that cannot be avoided for smaller income families. However their hard work pays of when they finish off the loans and they can enjoy it after their retirement. But there are few families that the parents work day and night to pay off the loans and when the loans are paid off they become too sick to enjoy it and have to be put in nursing homes.