Trying to Be Financially Responsible By Taking A Loan

Since I became eligible for Shopee Pay Later, I noticed that I barely use cash anymore. The concept of this kind of financing is that you get specific goods or services without paying immediately. Of course, it’s not free since you still need to pay on the 15th of the month. I’ve heard many people struggle to pay their dues because of irresponsibility or emergencies. However, my mindset is to leverage it as an advantage and handle the risks effectively. Here are a few strategies on why I try to be financially responsible when taking a loan:

Expand Credit Limit

I signed up on my 21st birthday, and I was happy that I immediately got a ₱3,500 credit limit. I also have an extra ₱7,500 credit limit, but with a 5% interest rate. Because of that, I keep in mind that I should only spend ₱3,500. My mindset is that you can expand your limit if you keep using it properly. Currently, I use my credit to pay our bills, load, and other items.

0% Interest for 3 Months

This is the main reason why I like taking loans. I have a BillEase account, but I don’t want to use it because it has interest. I believe opportunities like this shouldn’t be wasted and should be used correctly. My strategy is to buy in bulk to get discounts and vouchers. This helps me save more money without paying interest. I’m also looking forward to purchasing a mid-range to expensive smartwatch and earphones once I feel capable of paying for them. For now, I’m not yet financially ready.

Investment

Sometimes, when I want to buy a product that I can promote on TikTok, I use my credit to purchase it. There are times when buying from Shopee is cheaper than TikTok. It’s a bit of a gamble since you don’t know if the product will be a hit. However, like a gambler’s mindset, you might hit the jackpot if you keep trying. To minimize risk, I only buy items that I know I can still use later.

After looking at these perks, I realized there are hidden risks. Here’s how I avoid them:

Treat It as Cash

As I mentioned earlier, I’ve been planning to buy a smartwatch and earphones worth around $20 each. I also wanted to check out a skincare set, but I missed their 50% off promo. It’s tempting to buy items when converting them into installments. But when unforeseen circumstances happen, you’ll realize it was a bad decision. That’s why I only buy when I feel I’ve achieved something significant related to my financial goals. I almost fell into that trap, and I’m glad I managed to avoid it.

Always Check My Finances

Since the start of 2026, I’ve been closely monitoring my financial habits. I don’t have a stable job right now, and I’m still trying to get monetized from my passions. Before taking loans, I make sure I have enough savings to cover them. It’s stressful when you forget or can’t pay on time. Low trust scores and penalties will follow if you don’t maintain good credit. So far, I’m glad I already have a budget to pay my loan on February 15. I just prefer to keep the money in my GoTyme account to earn monthly interest.

Work Harder

This is probably my main motivation for taking a loan. I need to pay monthly, which pushes me to work harder. There are times when I feel demotivated because my efforts don’t meet my expectations. Still, I’m trying to work harder to become financially stable. That’s why I shouldn’t rely on just one revenue stream.