Community discussion · Composite borrower case
₱40K Salary, ₱200K Debt—Which Bill First?
Question from a public Reddit discussion (paraphrased):
I just got promoted. My salary went from ₱23,000 to ₱40,000, which should feel like good news. Then I finally put all my balances into Excel: more than ₱200,000.
There are payments for a phone and tablet, plus JuanHand, GLoan, SPayLater, GCredit, Salmon and Hello Money. A ₱1,000 SPayLater installment was due before my next salary. I used to borrow from one app to pay another. I stopped myself from doing it again.
I've already heard 'kasalanan mo 'yan' enough. I know. What I don't know is where to start. Highest interest first? Smallest balance first? I still need to pay rent, commute, and eat.
What other Redditors said (paraphrased from five different accounts)
I first thought avalanche: pay the highest-interest loan. But after seeing your expenses, snowball might be easier to keep up with. Either way, don't go back to tapal.
Start with a budget. How much is actually left after living costs? Clearing one smaller balance at a time feels good, especially when every bill looks impossible.
Same, I only saw how deep I was once I listed everything. Every cutoff, every peso had a job. I cut extras and, in my case, asked family for interest-free help. It wasn't easy.
If JuanHand is the one stressing you out, look at that too. How much of the rent is your share? Could you save by bringing food or changing your commute? Tiny daily costs add up.
If you can get a bank loan at a lower interest rate that covers those app balances, you could focus on one payment instead of many. That's an option I'd explore.
One commenter suggested selling her tablet. She'd already done that after a hospital emergency.
But the ₱38K tablet balance was still on her list. So when someone says 'just sell something', what exactly is left to sell again?
Source: Reddit r/utangPH
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