Yesterday, I was at the palengke with my sister, and she told me she’s having trouble paying off her GCash loan. She thought she could easily pay it back with her side hustle, but the interest rates were higher than she expected. I remembered when I first started my online raket, I also fell into a similar trap. I took out a loan to invest in a supposedly “sure-thing” online business, but it didn’t work out as planned. I was left with a huge utang and no way to pay it back.

That’s when I realized the importance of being careful with our finances, lalo na when it comes to GCash and other online lending platforms. We all want to earn extra pera, but we shouldn’t do it at the cost of getting stuck in debt. So, I want to share with you my diskarte on how to avoid hidden debt traps.

First, always read the fine print. Hindi basta-basta mag-click ng “agree” without understanding the terms and conditions. Make sure you know the interest rates, repayment terms, and any other fees associated with the loan. I also make sure to calculate my expenses and income before taking out a loan, para sure akong kayang bayaran.

Another thing, don’t borrow more than you can afford to pay back. I know it’s tempting to take out a big loan to invest in a business or to pay for an emergency, but it’s not worth the risk of getting stuck in debt. Start small, and work your way up. Sa GCash, may option naman to take out small loans, like PHP 1,000 or PHP 2,000, which is more manageable.

Lastly, don’t be afraid to say no to loans that seem too good to be true. If someone is offering you a loan with very low interest rates or no collateral, it’s probably a scam. Be cautious, and do your research before taking out any loan. Sa online, maraming scammer na nag-o-offer ng loan, so we need to be careful.

So, to all my fellow Filipinos out there who are trying to make extra pera online, let’s be careful and responsible with our finances. Let’s not fall into the trap of hidden debt, and instead, let’s focus on building a stable and secure financial future for ourselves and our families. Kumita na, pero huwag utang pa!