My friend’s wife gave birth to a baby boy last week. However, they don’t have enough savings for it as it was not really a planned pregnancy and their obstetrician (OB) miscalculated the expected date of her delivery date.

According to their OB, her expected date would be in the first week of July yet, but she gave birth much earlier. That’s the reason why they didn’t have enough money in their hands at this moment and they used so much of their credit cards.My friend even thought that because of their outstanding credit on their credit card, he and his wife decided to have debt consolidation loans, to be able to pay all of their outstanding balance in just one credit cards. She’s been looking for better ways to pay off other existing loans and even wanted to do some collateral just to have a loan. I suggested that she take time to analyze or understand the situation before doing it. “Are you sure you will save a lot if you will do it?” I asked. It may be worth to risk the things you owned for that loan. But I guess the   important question to ask is: do you have a stable income and can be able to pay off in time?