Why Filipinos are Fond of Borrowing Money

Chinkee Tan
Chinkee Tan

It is very common to hear this among Pinoys, “Can I borrow some money? I promise to return it on payday.” But so many paydays have already gone by, but you have not yet been paid back.

I believe the reason why borrowing money is so popular here in the Philippines is because this has already become…


Parents have a huge influence on their children, so if their LIFESTYLE has been one of borrowing money and debt, their children would most likely follow in their footsteps.

This reminds me of when kids play house and sometimes add a mini store. When mealtime came, the kid role-playing as mom said, “Kids, it’s time to eat. Why don’t you run over to the store and borrow two cans of sardines from Aling Puring.”
It may sound funny, but it does happen in real life!

It has become difficult to change this practice because we have already become so accustomed to it.

While there are others who are fond of borrowing because of they think that THEY DESERVE A REWARD after all the hard work they put into their jobs. When their payroll arrives, they spend on things that they WANT to satisfy their craving for reward.

They spend on drinking, eat-all-you-can, and all kinds of gadgets that they don’t really need.

They don’t stop to consider investing toward achieving their long term goals, and making this their reward. They always want to be rewarded for each and every action they do.

It is okay to give in to your wants once in a while, for as long as the money used is extra income and not money that is meant for basic needs.


Some folks simply do not want to go through a little difficulty in life, so they depend on others. They want it easy and want to live in extravagance and leisure at the expense of their loved ones who do all the work to earn money to sustain their impractical lifestyle. These people just want to live comfortably, but don’t want to work for it. It is easier for them to just borrow money, but oftentimes spend it on gambling thinking luck might be on their side this time. In the end, they will just sink deeper and deeper in debt.

Yet for this person, this is normal. This lifestyle is okay. His mindset is that “it doesn’t matter if I am lazy, as long as I am not tired!”

Let’s not forget that the root cause of a person’s habit in borrowing money could be…


They would rather borrow money especially when they need to celebrate an important family event, just because they do not want others to perceive them as poor. It does not matter if they do not have enough cash, or if where they will get the money to pay for it later as long as they are able to show that they have the capacity to put up a grand celebration.
They don’t want to admit that they have limits to their own resources.

They always think of what other people will say. They are SELF-ABSORBED people who would rather beg for money from others just so they get what they want and they don’t get humiliated because of lack of money.

These are just some of the reason why Pinoys are fond of borrowing money.

If you want to break out of the rut of debt, you need to …


Refuse to follow the wrong practices that you were raised with. If you don’t have much money, be brave and tell the truth. Remember, “THE TRUTH WILL SET YOU FREE.”


Focus on making your long-term goal as your reward. Focus on making your financial status stable. If you find it difficult, remind yourself of this long-term reward that is waiting for you at the end of the finish line, which is lasting happiness.


It is more enjoyable if the money you spend comes from your own blood and sweat. Change your MINDSET to “it doesn’t matter if I get tired along the way, as long as it helps me get to my goal.”


Admit that you need to IMPROVE. The only thing permanent in this world is change. While there is life, change will always exist to make life better for us.


Are you ready to break the tradition of borrowing money so that you won’t continue to sink deeper into debt?
Do you consider achieving your long-term goal as the more important reward?
Are you willing to put effort into getting out and staying out of debt?

If you want to know more about getting out of debt, watch this… http://bit.ly/1AZsjDW

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Chinkee Tan
Chinkee Tan is a top Filipino motivational speaker, wealth and life coach whose goal is to inform, educate, motivate, and disturb. His vision is to help people become financially-literate and debt-free. For more info about Chinkee Tan, please visit his fan page at FB, Twitter and Instagram. Also follow VIBER PUBLIC CHAT GROUP search chinkee tan, and VISIONCHINKEE on You Tube for more news and encouragements.