Quantcast

Young Blood

Being in London

By

People born in the year of the Boar are predicted to be in conflict with the Water Snake. Thus, they’ll experience failure in leaps and bounds this year, says an astrology forecast I read in the Internet.

Being a Boar, and even without the aid of a horoscope or Madame Auring’s crystal ball, I know that 2013 is going to be a rough year for me.

You see, last year I started living in London—no, not in Her Majesty’s home city, but in a place where every person’s mantra is “loan dito, loan doon.” An invented city built by people like you and me, and with its promise of lending money for later payment, it has lured many people. I was one of those who got hooked, and I have accumulated a total of P175,000 in loans. That amount is payable until December 2013 through salary deductions.

I am a high school teacher and my monthly net pay of P19,000 has now been reduced to P8,500. Deduct from that my monthly room rent of P2,500 and Internet bill of P1,000, and I am left with only P5,000 for such expenses as food, fare, and groceries. I’m single and I’ve always lived simply, but how will I survive in case an emergency crops up? Besides, as a teacher I sometimes have to shell out personal money for my classroom needs.

I’ve always been cautious with money, so how did this come about? Let me tell you how I became a Londoner.

In 2011, I vowed to myself that I would never live in London after learning that a colleague was receiving only P3,000 in monthly pay due to the numerous loans she had taken out over the years. Last year, however, I broke that vow. I borrowed P30,000 from the cooperative bank in our school so I could buy an LCD projector for my classroom (yes, public school teachers buy their own facilities). I thought that it’s for a good cause, anyway, and that before 2013 is over, I’ll be able to pay up. Besides, the deduction will just be P1,500 a month. No sweat.

When the UMID GSIS card came out three years ago, there was much hype that employees who had been working for five years and up may take out a P10,000 loan. No, I didn’t jump on the bandwagon because first, I had only been working for three years at that time and second, I told myself, “I don’t need the money.” But last year, I had “needs.” I borrowed P50,000 from GSIS because I had my teeth fixed, which required braces, and I traveled abroad. I comforted myself that, again, it went to a good cause.

Also, last September, my grandmother was hospitalized and being a Lola’s girl, I chipped in with P40,000. The money was again loaned by my school’s cooperative bank. By then, I had incurred a total debt of P130,000 with interest. But my London travails did not end there.

Before 2012 ended, an aunt asked me to donate P30,000 for our land bills. Being the dutiful niece that I am, I borrowed for the last time (fingers crossed) from the cooperative bank.

I have never been good with numbers, so I did not anticipate the deductions. I cried when I learned that my monthly deduction would be P13,500 for the next 12 months. Blaming myself, my grandmother, or my aunt will not do me any good. This year, with only P8,500 per month, I have no choice but learn to say no. I will tighten my belt and learn, too, not to gratify my “now” needs.

I can see how my 2013 is going to be like, so I’m moving town. I will never ever settle in London again.

Van Kristine L. Mendoza, 29, teaches English at West Visayas State University.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


More from this Column:

Other Stories:

No related posts found!

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Short URL: http://opinion.inquirer.net/?p=45319

Tags: column , loans , Van Kristine L. Mendoza , Young Blood



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Ukraine FM: We are ready to fight Russia
  • Slain officer’s ‘diagram’ rocks PNP
  • 2 contractors fined P25,000 for delays in Edsa rehab
  • Luisita beneficiaries take over renters
  • 5 years of hard work pay off for top UP grad
  • Sports

  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • NLEX roars to 7th D-League win
  • Lifestyle

  • A brand for life
  • Wear a rainbow on your wrist
  • Wearing Kate Moss
  • Sail into summer
  • Life lessons from the Ultimate Warrior
  • Entertainment

  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • OMB exec’s assurance: We work 24/7
  • Business

  • Gaming stocks gain, PSEi eases on profit-taking
  • Cebu Pacific flew 3.74M passengers as of March
  • Corporate bonds sweeteners
  • Professionals in the family business
  • Foreign funds flowed out in Q1, says BSP
  • Technology

  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • Afghan hospital guard kills 3 American doctors
  • Career diplomat is new PH consul general in Los Angeles
  • US4GG: Aquino should ask Obama for TPS approval, drone technology
  • Complex health care system for California’s elderly and poor explained
  • Tiff with HK over Luneta hostage fiasco finally over
  • Marketplace