If you happen to have a hundred thousand pesos debt to a friend or a cash loan company, should you say it to your loved ones? Is it necessary to let them know the details about it? What if they got angry? How are you going to handle the situation?

Why Money is a Sensitive Topic

Money is an integral part of our lives, but it remains to be a sensitive topic. It’s not often discussed in school or at our workplace, except you belong to an organization that values their people’s financial situation.

This is probably because money doesn’t represent a piece of paper alone. Most of us believe that it symbolizes comfort, status, independence, survival, or sometimes insecurities. It is also commonly tied-up with the success of a person.

What if You Have a Debt?

If discussing money, in general, is taboo, how much more is “debt”?

Let’s say you happen to have an accumulated debt that’s been bothering you for a year right now. You can pay the debt, but it seems that you’re now living paycheck to paycheck. Upon receiving your salary, you budget your money for food, utilities, and debt. Compared to before, where you can still save 10% of your income, now you cannot do it.

Is it about time to tell your family about it? What if they got upset/ their reaction isn’t acceptable? What would you do?

On a personal note, being honest to your family/loved ones is very important, especially if you think it’s a huge concern. So I believe you should tell your family about it no matter how uncomfortable it can be.

Benefits of Telling Them About Your Debt

Aside from achieving peace of mind, you can get plenty of benefits when you open your concern to your family.

They Can Give You Advice

Letting them know what you’re going through will allow you to discover about your family deeply. They can give great advice, especially to those who are knowledgeable/ expert in the relevant field. Let’s say there’s someone from the family working as an accountant/in a financial institution; they can give their insight into loans, how they work, how you can manage them, or maybe interesting facts that you probably didn’t know.

Your Limitations Will be Understood

Another good thing is they will understand that you need to pay your debt and have financial limitations. In this case, you don’t need to feel guilty anytime extra expenses arise, such as hosting a party, spending on gifts for birthdays or weddings, and others. They will understand that you have to prioritize doing your own thing.

You Will Discover That You’re Not the Only One Having Financial Worries

Like how you are hiding your debt, one of your family members probably is hiding their debt as well. Letting them know your situation makes them easier to open up as well. Aside from that, you can serve as a support system to each other.

I know that it’s not easy to sit down and randomly talk about it. So here are some tips on how you can start.

  • Before telling it to them, make sure that you are clear on your intentions. What is the reason why do you want to discuss it? Is it for awareness, or would you like to ask for their help?
  • Ensure that you also prepare your points – the amount of your debt, when you borrow it, the interest, what’s the main reason you have debt, etc., so that they can easily understand where you’re coming from.
  • Then, tell them what you’re doing about it. In this way, they won’t feel bad about you but will support your plans.


Having debt is (especially if it’s huge) is not easy. It’s a responsibility. You have the choice to tell it to your family or not, but we believe that doing so will lead you to peace of mind, be more committed and ease your paying options.

When discussing it with your family, make sure that you are clear with your intentions and have plans. Remember that debt may be a sensitive concern, but there’s always a way to accept and discuss it.

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