Pinoy Culture: Why Filipinos Borrow Money

Generally, the Filipino people are very hard working. Some even have multiple jobs to ensure that they bring in the bread on their family table. A few even ventures to foreign lands to seek better opportunities when it comes to their employment. So, you have to wonder why they still need to borrow money using cash loans from different parties. One can say that the act of borrowing money is quite a common behavior among them.

In this article, we’re going to explore the Pinoy culture of taking a loan.


Unfortunately, one of the main reasons why Filipinos tend to borrow money is because it is something that has been ingrained in their family’s tradition.

Young adults today had probably heard their parents planning to take a loan from their relatives, from the bank, or even from the sari-sari store down the street to fund for a thing they could not afford. As they grew older, they might have thought that borrowing money is a viable option they could take.


The Filipino people are a very prideful bunch.

Ever saw a YouTube video of a Filipino performer doing great overseas? If yes, then you know that it has comments containing the words “Proud to be Pinoy,” which is not necessarily a bad thing.

However, this attitude is easily transferable to the act of borrowing money. For instance, even though they cannot afford to invite 100 guests to a party, they would try to find ways so they can make it happen—in most cases it is through the act of taking a loan.

Instant gratification

Although this is not true for everyone, it would seem that some Filipinos are having a hard controlling their spendings. This usually happens after they’ve been stressed at work; they believe that the new clothes they are buying are a treat that they deserve.

You could say that they get an instant gratification because of the things they buy. Sadly, this renders them unable to maintain a savings account. And so, when emergency comes, they end up needing a loan just to get through it.

Taking a loan to pay off another loan

There are some banks and loan providers in the country providing a personal loan to people who need to pay their debt off. Yes, it does sound counterintuitive, but it does exist. Why? Probably because of the first three reasons mentioned in this list.


YOLO or ‘You only live once’ is a phrase that gained attention with the rise of the Millennials. However, it does seem that other generations are also showcasing this kind of attitude—which entails a person to become reckless in their purchases as they reason that they will only do it once.

A great example of this is planning an impromptu trip. Since it was short noticed, you were unable to save enough money, which is why you turn to your relatives or even a lender to provide you the needed funds.


These are the common reasons why Filipinos borrow money or sign up in a BDO personal loan online or such with other banks. If you believe you are showcasing these kinds of behaviors, catch yourself as early as possible so you won’t have to deal with the repercussions in the future!

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