Childhood lessons on subprime loans and coping without money
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RSS FeedI was 8 then and we just moved from the province and I just started studying in a school in Paranaque. It was also where I first learned about using money and along with it, greed, and extortion in the form of bullying and asking for loans. It was also when I first learned how to “fend” for myself in times of personal crisis.
It was then that I first heard the word “pautang” (loan me) asked directly from me. When my Dad learned about this, he was furious and all I remember now is that he strongly admonished me to never ever loan to anyone or even ask for a loan myself. He definitely knew what he was talking about, after all, he worked with loans on a daily basis at the Central Bank of the Philippines. I got the message and that is why all these years I have been steering clear of big loans such as mortgages and personal loans. I fully paid my car loan ahead of time and now I only use my credit card for convenience such as for occasional online purchases but never to buy something which I have no immediate cash to pay for. That kid even threatened to get me in trouble with a teacher who was her aunt if I didn’t give her money. I was 8 remember? –and a probinsyana, innocent and all. I didn’t know then that it was indeed classic bullying and I was scared enough by it. However, for some reason I was scared to tell my parents about it. I totally forgot the whole details of that incident until recently my aunt told me that she knew about that story. She told me that my Dad actually noticed that I had less money all the time and seemed to be in stress. He knew that someone was extorting me or probably I had shown hints of it.
Another incident that happened when I was 8 which I will never forget is being left by the school bus and having no money. At that time, it was the 80’s so we know that there were no mobile phones yet or sending load for that matter. For some reason, I didn’t have the money to even take the jeepney or tricycle to get home. I was scared! I think it was even my first day in school. I lived in BF Homes and the school was in Sucat. You know what I did? I walked throughout Sucat and found myself along the road, maybe near Irineville where there is a tricycle terminal and took the tricicyle home — at least I could pay for it when I arrive at home! I was 8 and walking alone in Sucat for goodness sake! But at least I arrived home safe.
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