The Reality of Millennial Life, Forced to Borrow for the Cost of Marriage Lifestyle – 4 hours ago

Jakarta, CNBC Indonesia – In recent times, online loans (pinjol) have become one of the choices of Indonesian people when experiencing urgent financial problems.

Bunga (not his real name) is one of the people who chose Pinjol as a solution to the financial problems he was facing. He admitted that he had borrowed money from Pinjol in 2021 due to a lack of funds before the wedding day.

Bunga admitted that he was forced to rely on loans because there were wedding expenses that had to be paid immediately when the costs had not been collected 100 percent. Moreover, at that time he did not receive financial assistance from his parents.


“At that time I was forced to use a loan because of the costs of my wedding, that’s right, I was alone (with my partner) without any help from my parents. Well, it’s my turn last minute aka there are only a few weeks left, it turns out we haven’t met the target,” said Bunga to CNBC Indonesia, Thursday (16/11/2023).

“Suddenly we had to cover the vendors. So whether we wanted to or not, we wanted to borrow from Shopee Pinjam,” he added.

In order to pay off payments for wedding vendor services, this employee who lives in South Jakarta borrowed funds three times from SPinjam (Shopee Pinjam), namely in May, October and November with a total loan of IDR 9 million.

In 2021, SPinjam still provides the option to pay installments twice, six times and 12 times. Therefore, Bunga decided to pay the loan in installments twice and six times.

“During May and November, there were vendors who had to be paid off first or made a deposit (down payment) first, but I didn’t have the money that month,” explained Bunga.

“November is the month of the wedding. So in the month of the wedding I borrowed it again because it turned out there was still something missing,” he continued.

In the loan process, Bunga admitted that he did not experience any problems at all. In fact, according to him, the application process to disbursement of funds was very fast and completed on the same day.

In May, this private employee made two installments, namely IDR 1,650,081 in the first installment and IDR 1,650,082 in the second installment. Meanwhile, in November the interest will also be repaid in installments over the same period and amount.

Specifically for the November installments, Bunga decided to pay in installments six times, namely Rp. 649,931 for the first five repayment and Rp. 649,929 for the last repayment.

Bunga said that initially her future husband did not agree for her to borrow funds from Pinjol. However, Bunga managed to convince her partner by not borrowing too much money and using a legal loan registered by the Financial Services Authority (OJK).

Tips for Borrowing Funds from Pinjol

This 29 year old woman admitted that she had never been in debt from a loan before. However, he already knows a strategy so as not to get caught in loan debt.

According to Bunga, one of the things that must be considered before borrowing funds from Pinjol is knowing your financial capabilities and ability to pay off debt installments. In addition, it is important for prospective borrowers to take into account all income before borrowing funds.

“In my opinion, we just have to measure our abilities. Don’t borrow money above the total salary per month. Salaries, right, have a distribution, such as housing needs, food and so on,” said Bunga.

“How much is left, well, that’s what we can afford to pay the installments. Don’t let the installments exceed the remaining money we have left for each month. Basically, don’t borrow more than the remaining expenses each month,” he stressed.

[Gambas:Video CNBC]

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