08/09/2025
I saw this post and natrigger talaga ako. Kung sino ka man sana mabasa mo to. Long post.
Red flags:
1) Nag resign para magbusiness nang hindi pa stable ang business. I've seen this a lot, high risk, high return, but many fails , lalo na kung hindi malalim ang bulsa, madalas hindi pa naka register ang business kaya hirap mag scale.
2) 40% ng income sa family. Hindi ko alam anong situation mo sa buhay, pero 40% ng income mo para sa family mo? That's too much for me. Hindi obligation ng anak ang magulang, pwedeng tumulong, pero wag sobra, and 40% ay sobra.
3) Tapal system. This could be a good move when done correctly, pero kung nangutang ka ulet at malaki din ang tubo, baon ka talaga lalo dyan, and that will be your biggest mistake. Lalo kung sa loan sharks ka nangutang or loan app.
4) People pleaser. Ang laki na nga ng utang mo, ang liit ng sahod mo nakuha mo pang mang "spoil"? Walang maratating ang yabang or good intentions kung baon ka sa utang. Meron pala, stress.
Resolutions (suggestions only, not a financial advice):
Kung ako nasa situation nito ito mga gagawin ko.
1) If hindi pa tumitigil, stop na muna ang business.
2) I will tell my family about my loan situation and will lessen, if hind possible na istop talaga and sustento. They need to understand na I am only there to help, hindi para buhayin sila.
3) Use debt elimination calendar. Kausapin lahat ng pinagkakautangan, ask if I can stop paying for a while. List down all loan with interest rate, prioritized paying off yung pinakamalaking interestest. Call banks and tell them your situation. They have protocols for financial distress clients.
4) Reduce expenses. Kung ako to, hindi muna ako masyadong kakain sa labas, magbabaon nalang sa work, hindi muna magcelebrate ng kung ano ano at along hindi manglilibre. Mas nakakahiya makatanggap ng demand letter kesa hindi mang libre.
5) Don't be disheartened, continue to find part-time, learn new skills. Seek for better paying job or promotion.
Last 2020 nanganak ang asawa ko, dahil pandemic, lalong tumaang ang expenses sa panganganak at nasagad talaga kame, nabaon kame sa utang, even tithing ko nagastos ko, and as a firm believer sa tithing, napakahirap nun para sakin. Meron din kameng pinasukan na business the year prior and it did not end up well din. We did not reach yung million na utang pero lahat ng binanggit ko sa taas ginawa ko. We stop the business, I stop giving sa family ko, I delayed paying my credit card and use it to pay some bills. Di kame nag celebrate ng new year and Christmas.
Yung 13th month pay ko, we use it to pay our tithes and ibang utang, we continue paying our debt using debt elimination calendar and by the end of 2021 nakalaya kame sa utang.
Syempre nagkautang ulet kame, with housing loan, million na din. Pero we know how to manage it and we still got savings for the future.
Got this photo from Pinoy Viral