The Rich Thinker

Think Rich to Be Rich In All Aspect of Life

Borrowing Funds from Loan Apps

Image result for atome loan app
Photo Credits: Google Play

We all have rough moments in our lives. No matter how hard you tried to stretch your budget, it seems that it’s just not enough.

Living in the Philippines is getting harder everyday. The average Filipino family can no longer live in a single household income.

Unlike before, extended family lend a helping hand easily to assist a member in need. Now, it’s getting more complicated even just to borrow a clove of garlic from the neighborhood.

It looks like most of us are suffering from the inflation. Not to mention the VAT (Value Added Tax) that is being placed at the top of everything.

It’s funny, they have taken out the income tax for the low income earners. But the TRAIN law seems to make the poor even to be poorer.

In most countries, they have an option to do double or even triple jobs. That will give them the edge to keep up with the changing economy conditions.

Try it in the Philippines, who has a mandatory of eight working hours and one hour lunch. Not to mention the preparation and the commute. The average time can be twelve hours to complete the cycle of just one job. For sure, you will end up sick!

This is the reason why most Pinoy workers resort to diving in debt. That’s the easiest way to remedy the current situation.

Loan apps both for android and iOS are already available in our finger tips. However, the interest can be very high. Not to mention, the loan terms is just as short as 14 days for some.

Although this sounds rediculous already like for a 1,000 Php loan & you will have to repay it for 1,650 Php within 14 days, yet people still bite into it because they badly need it.

So why not try to get it from the bank? Loans can be a tedious process if you will get it in the bank though. Not to mention the processing time can even extend to a month. It’s not an ideal place to get a loan especially for urgent needs.

In conclusion, borrowing money from the loan app can be a good option these days. It’s very convenient now that you can just do it all without having to go anywhere. The only time you have to get out of the house is if you will already withdraw the proceeds.

If you have decided to take in the loan these loan apps offer, better get ready to pay the high interest rate. You may just want to try borrowing from a friend or relative out of their good will and just pay it on time.

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cher dayao

I am a Virtual Assistant, a Writer by heart and a full-time Mom/Dad of two wonderful girls.

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