I Will Apply For A Salary Loan
By Janeth
@janethwayne (5191)
Philippines
February 10, 2019 9:48am CST
I will apply for a salary loan this month because according to my record, I am allowed to get a loan amounting 20 thousand pesos approximately 400 Us dollars so I will grab that opportunity.This is my first time to apply in that government company and I have a mixed emotion feeling.I will pay it every month for two years so I will try that.
I am confident that it will grant me because I pay the monthly contribution for a long time now.I just want to enjoy the benefits and use that money for my children's school expenses and some I will keep to save.Money is so tight so it must be spent wisely.
14 people like this
16 responses
@hereandthere (45628)
• Philippines
11 Feb 19
it's easier to repay any government loan while you're still connected to your company because your hr/payroll dept will automatically deduct it every month, either the 15th or 30th, so that you can repay it completely in 24 months or 2 years.
so don't resign until it's fully paid. if you resign or get retrenched, ask them to deduct it from your separation pay, so you won't have outstanding loan that's increasing with interest.
you can also try inquiring about pagibig's multipurpose loan. it's similar to the sss personal/salary loan. it's also 2 years to pay.
5 people like this
@hereandthere (45628)
• Philippines
11 Feb 19
@janethwayne uh, no, i wouldn't risk doing both at the same time. you'll end up with very little salary every month for 2 years while burning through both loans. do you really need both amounts (sss and pagibig) urgently? when will the school year start?
1 person likes this
@sunrisefan (28524)
• Philippines
11 Feb 19
@janethwayne Don't have yourself obligated with many loans unless you really need the money. Make it a habit to save some amount (how little it may be) so that in the future, when you need it you won't have to borrow but just withdraw from the amount saved. It's more or less the same as lay-away plans. If you're planning to buy something useful, save for that and buy it when you have fully saved for its cost.
3 people like this
@janethwayne (5191)
• Philippines
11 Feb 19
Yes I want to do that also.Thank you.
1 person likes this
@jobelbojel (36796)
• Philippines
10 Feb 19
Which loan are you trying to take advantage of?
3 people like this
@janethwayne (5191)
• Philippines
11 Feb 19
I don't know yet I have to check on Thursday in that office.
@jvicentevalera (13671)
• Santiago, Chile
10 Feb 19
get the loan as long as you can pay it in the months ahead! It's a wise move to invest that money on your children's school education and part of the mony on savings. Wise woman you are! Good luck!
2 people like this
@jvicentevalera (13671)
• Santiago, Chile
11 Feb 19
@WiseGhots Absolutely. But then you remember Mark Zuckerberg, and other billionaire guys and you're like, really do I need to study? :(
1 person likes this
@WiseGhots (14603)
•
11 Feb 19
@jvicentevalera This makes sense. But, luck matters (sometimes a lot) on cases like this.
1 person likes this
@ShyBear88 (59342)
• Sterling, Virginia
11 Feb 19
Good lucky, I hope you get it.
1 person likes this
@Letranknight2015 (52665)
• Philippines
11 Feb 19
Unless it's an emergency, how are you going to pay for it.
2 people like this
@janethwayne (5191)
• Philippines
11 Feb 19
I can pay it through my allotment because I pay it voluntarily as a member.
@Missmwngi (12915)
• Nairobi, Kenya
11 Feb 19
The best way to use a loan is to invest such that the profits you make in a month will be enough to pay the monthly portion of the loan you are supposed to do.
1 person likes this
@amitkokiladitya (171988)
• Agra, India
10 Feb 19
I hope you get it. But go for it only if you badly need ot
1 person likes this
@MissNikki (5234)
• Maple Ridge, British Columbia
10 Feb 19
Best of luck to you!
1 person likes this
