Nevermind, I’ll PayLater

Instead of choosing it as a final decision, it became my first option.

While I’m digging through my phone, I saw products that caught my attention. It made me stop doomscrolling to check at the reviews and make it sure that the quality is truly worth it. After browsing, I looked at the price, and for a minute it caused me to hesitate for its amount. But, the opportunity is just one tap away for buying the product without causing too much worry in paying—paying it later. 

Borrowing or Lending money is no longer the last decision when our pockets run short, but the first option when paying for the things we desire to have. It made me realize that our culture as Filipinos which we once thought faded, was never lost—it is still there and remains present. As we look for easier ways forward, we overlook the fact that we are often circling back to where we started.

A number of loan apps and features have emerged in recent years, such as Shopee PayLater, TikTok PayLater, and GLoan (GCash), along with other services designed around the “Buy Now, Pay Later” system. All of these processes follow a monthly installment plan and offer an interest rate as low as 1%. These are platforms that lend on time and provide quick access to cash through our smartphones. What we often see as a new invention of technology is, in reality, just a continuation of the culture of borrowing. 

Rather than encouraging saving habits, it has slowly become part of our lifestyle, made even more prevalent by its easy accessibility. According to the report released by the  consumer finance company Digido Industry alongside with Bangko Sentral ng Pilipinas (BSP)  in 2024, Filipinos spent 1.54 billion seconds on digital lending apps 16% higher than the time of usage in 2023. Indeed, it makes it easier for us to spend money, but also easier to lose money that sometimes it is gone even before it reaches our hands. 

A survey found that 42% of Filipinos experienced income growth in the past three months, 41% reported no change in their income, and 17% of it declined, stated by the TransUnion. The easier money becomes to obtain, the easier it becomes for people to rely on it. Instead of encouraging savings through manageable payments, it can lead to increased spending as people grow dependent on it.

Based on data from the Bangko Sentral ng Pilipinas (BSP), only 25.6% of households reported having savings in 2024, with many continuing to prioritize spending over saving. As a result, borrowing often becomes the immediate response during emergencies.

This system simply shows a trap to everyone, one tap away leads Filipinos being trapped. I am beginning to see how we are gradually being confined by our own culture, made stronger by the easier access to money.

Yes, money may be easy to access, but it is not as easy to repay, especially since it exists within a wider system, not just within a single household. We still have our own signature. We are only going in circles back to where we started, and that is what keeps us from being free.

I may have chose not to pay now, but I might end up regretting it later.