tiwala

I've been receiving text messages for over a year now, from unknown sources, offering very low interest loans. This has no significance whatsoever until one compares those numbers to what the credit card charges. The 'texted' loans win hands down. One will be crazy not to take advantage.

But I have not :)

The numbers say that it will 'save' money but the question I ask is what kind of complexity do I get myself in if I bite?

At least with the credit cards, you know how the system works. The 'texted' one, well, too good to be true. It is like a choice between the devil you know and the devil that you don't know. The devil you know wins :)

But why is that I have that logic bubble in my head?

I understand that the current local financial wind is strongly suggesting to the Filipinos to spend. Just look at how little interest one gets from savings and time deposits that one will understand that the government does not want our money in savings account but out there flowing. They want us to spend. To invest. To risk :)

But how come even with the numbers that nudges me to risk, all it does is to make me even ask more questions?

The feeling I have is that I am being set up to fail?

But why do I have that thought pattern? Why do I have that as a bias? Is that the past talking to me? Limiting how and what I see in our present circumstances?

So, I count my successes and my setbacks. Thank God, the former outnumbers the later. So, if this is not my experience talking to me - who is it?

It got me thinking, how can this quasi-financial companies offer low-interest loans. Is it because they also borrowed money from financial institution who offer even much lower interest? :)

Is it possible that these 'entrepreneurs' once worked for a credit card company, understands how that business works, saw an 'opportunity' when he connected the dots of 'existence of cheap money flooding the market', 'the credit card company shared databases', 'the non-existence of a clear legislation on how collecting companies should behave' and 'the Asian's face-saving mentality', thus let's offer a financial instrument that 'seemingly' mitigates the effects and the burdens of owning a credit card?

I wonder if these are the same people who aggressively and liberally offered credit cards to anyone at the malls?

I wonder if they are also the same people who set up shop to go after their 'once a sought after customer turned into delinquent payer'? Now, that's funny :) Talk about vertical integration :)

But still.

Even with cheap money flooding the market - why can't I simply risk?

Is it because it is risk? And how risk was presented to me that I will always choose certainty even if that certainty is tired and in staying in the winter of our discontent?

Why do I struggle with risking? Why do we struggle, as Filipinos, with the concept of risk? Is it because, even with their good intentions, financial planners has still a lot of ways to go in educating Filpinos about personal financial planning? Should we legislate that so that it becomes part of tertiary or technical-vocational curricula? Are we putting insurance companies out of business if we do that or are we making their sales pitch for them? :)

Or is it, at the heart of the matter a manifestation na hindi talaga tayo nagtitiwala sa ating mga modernong institusyon na gagawin nila ang tama at dapat? Na gagawin nila ang bagay na makakatulong sa Filipino? Sa ikauunlad ng bayan?

Can you imagine how will the Philippines look if we have earned the trust of one another? And that we trust one another to a point that you can use your iPhone or your Samsung Galaxy in saving you a seat kila Manang sa kanto?

The speed of trust... the beauty of trust.

"Why think like mere men?"