4 Mar, 2021
Housewives? Full-time wives?
People often indicate housewives as mothers of families with children, which is wrong. Housewives and full-time wives share the same definition, which is married and unemployed women who usually do house chores and take care of their families. However, since 1949, the usage of the phrase ‘full-time wives’ has been significantly decreasing. (It has something to do with cultural context, but it will not be discussed in this section.)
Nowadays, in European regions, housewives are considered as one of the occupations, in which they can enjoy respective social welfares. However, in Asian societies (including Hong Kong), housewives are considered as people who cannot make their own living, and their contribution cannot be precisely measured quantitatively.
However, in the recent days, with increasing importance of gender equality in society, most of the economists and economic columnists have tried quantitative measurement in actual contribution made to society, in which they have estimated their economic value of their work with reference to salary range of domestic workers, which is approximately RMB$200,000 (HKD$230,000).
We can see that the average working hours of unpaid housewives have exceeded white-collar workers’ (8 working hours on average), so contributions of housewives should be honored and deserved to enjoy the social welfares of other workers.
Housewives are unpaid
Housewives are unpaid, but their husbands will pay household expenses for daily expenses. After paying all family expenses, the remaining amount can be left for personal use. In the usual cases, the basic amount of expenses for 3-person families are $8,000-12,000, and husbands usually provide $12,000-18,000 (of course it depends on husbands’ monthly incomes).
However, there are some unexpected but unavoidable family expenses in the daily life, such as house reforms, which means the amount of money housewives can use is limited. After all, housewives have needs of borrowing money and fulfill their needs, such as paying off their credit cards bills, buying luxurious goods and making investments.
Housewives have difficulties in borrowing money
The most convenient way of borrowing money is asking your families or friends, as you basically need not pay any interests, which is important. However, it is quite embarrassing to ask families or friends for money: you may concern how people think of you.
Even if your family members are willing to borrow money, the amount is limited: the lenders do not have the courage to urge you repaying even if you did not return the money due to relationships; even if you repay, you may extend the repayment period to 2-10 years. Maybe asking friends is a better choice for borrowing money?
However, daily routines of most of the housewives are fixed and plain: they wash clothes, clean up the houses, prepare meals and take care of their children and elder family members. Soon they will lose satisfaction and get stressed by all these house chores.
In time, they will become depressed and unwilling to communicate with friends. In addition, housewives are busy with housework and do not have private time. When can they communicate with their friends?
Personal loan companies which allow housewives borrow money
In Hong Kong, most of the personal loan companies value money over feelings. Why is that? As most of the personal loan companies only accept loan applications of applicants with official income, meaning that they need to provide official pay advices, bank statements (showing the payment records by companies, regardless of autopay or cheques) or other valid job references for loan applications. Even if the housewives can provide bank records by their husbands as salary proof, these loan companies will still decline their loan applications.
The reason is simple: loan companies need to ensure the loan repayment ability of applicants after they have successfully draw down loan (the usual loan period of loan companies is 3-5 years). Even if the loan applicants can no longer repay their loans, personal loan companies can send letters or make phone calls to their employers.
Cashing Pro’s No Income Proof Loan
Online personal loan company Cashing Pro has tailor-made loan products for people without standard official pay advices, such as housewives and university students, in which they are not required to provide income proof. The loan application procedures are simple. All the loan applicants need to provide are；
- Copy of Hong Kong Permanent Identity Card
- Address proof by mail
- Bank account for receiving the loan (bank account number as 3-month transaction records)
The most important thing is that loan applicants are not required to provide any income proof documents during the application to draw down the loan successfully (of course your Credit Score is also one of the factors when approving your loan application). After the loan applications have been successfully approved and applicants have signed the loan agreements online, they can receive the loan within the day! You can soon solve the financial problem without asking your family members or friends!
As mentioned above, as most of personal loan companies in Hong Kong will not provide loan service to applicants without income, most of them, e.g. housewives and university students, will choose our loan service. Apart from that, you can receive the loan without leaving home. Housewives can then apply loan online while doing house chores. Cashing Pro’s 60-instalment loan plan allows customers fully repay the loan without any penalties or handling fee, meaning that customers can choose the loan period flexibly, which is why Cashing Pro’s No Income Proof Loan is welcomed by HongKongers.
One Click and apply Cashing Pro’s No Income Proof Loan!
Warning: You have to repay your loans. Don’t pay any intermediaries.