Borrowing personal loans is the LAST RESORT we would want to opt for. It’s not just about the loans that we have to pay for years but also how our credit scores might be affected if we end up skipping the payment.
However, it seems that many youth today are allegedly taking up personal loans with the bank but NOT for emergency cases. In a viral X post by @callmefye, the man said that he was informed by his former colleague about the truth behind youth and personal loans.
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Many of them are on personal loans to travel around the world.
“Please tell me this is not true. Apparently, there’s an ongoing trend among the youth where they’ll take up personal loans just to travel and keep their IG stories updated as if they were rich.”
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The man was shocked to learn about the possibilities and felt the need to remind everyone about the future, and the deception behind what’s shown on social media.
“You’re not our brothers but I genuinely want you to think about the future. Not everything shown on social media is true.”
In the comment sections, many social media users pointed out that the unhealthy trend is true and ongoing, and different people have different reasons to apply for personal loans.
“I was shocked myself. Some of them are on loans just to get designer handbags. I used to wonder how could they afford a bag that was triple the amount they earned.”
“It’s true. My senior friend admitted it. On loans to travel and have fun and during MCO, the interest rates were high.”
“I’ve seen groups of youth who are on personal loans just to buy iPhones, to get married. When they can’t afford to pay, they’ll try to avoid.”
To those who work in the banking industry, is there an ongoing trend to take personal loans for unwise reasons?
Also read: M’sian Borrows RM50K from Loan Shark, Ends Up Owing RM4 Million After Borrowing from 16 Loan Sharks
