Loans are a temporary provision of money that usually comes with an interest and further agreement of terms. Paying loans are sometimes toilsome and stressful. Beating the loan schedules and deadlines will not always be an easy task. But with the proper execution of ways to pay our loans and bits of advice on how to add sufficient amount of money to our current funds and monthly income, we can deduct some of our monetary loads from our loans.

Through Checks

One of the basic ways to pay for a loan is through check. This is a way to transfer and transact with the bank without requiring too much effort and time. Checks are convenient to use. It does not require you to carry loads of cash for it to be transferred to the payee. You can also keep track of the record of the checks.

Checks are given by a bank when you open a checking account. By the issuance of a check, a person could pay the other party through the bank.

It basically holds a power that orders the bank to release a specific amount of money from the given account for a specific payee. However, some checks may bounce due to insufficient funds. Thus, the bank cannot release the money.

Through direct debit or salary loan

One may also try to transact through direct debit to salary loan. A salary loan is a short-term loan for the employees that should be paid in full or installments as automatically debited from their next paycheck.

It comes from the company or the social security system (for government employees, Government Service Insurance System). It also serves as a promise to pay through your salary by deduction.

By using your bonuses

People may also pay their loans by their bonuses. A bonus is a compensation or a reward for the employee for one’s work in a company which is given by the employers in their own discretion.

This is an addition to the worker’s normal wage. It is not only limited to current employees but also the prospective ones (i.e. signing bonus). A bonus may be given for many reasons.

Some of these are being able to finish a mission or a project successfully, being in Christmas season, repaying for the loyalty and contribution of the employee, and serving for acts of generosity, motivation, and compensation. However, this does not necessarily be existing. It is given voluntarily and usually randomly.

Freelancing Job

In order to pay for your loan, one may do a freelancing job. A freelancer is a person who is self-employed and is not within a full-time employment in a company or the government.

Sometimes they engage in a company but only temporarily. Many also work independently by creating their own brand in their industry of specialization.

By being a freelancer, you may engage in writing some essays, articles, and papers that would be paid for a certain amount of money. Some may also engage in personal and online tutorials which do not take many hours of the day. The services are more on the creative industries. It is different from the regular salary basis in regular employment.

There are more freelance jobs out there.

Opportunities are out in the open and can be found online. In freelancing, diverse fields and works can be covered. One can write, program, design, draw, transcribe, translate, produce entertainment productions, or advertise.

Other freelance jobs may include some customer service jobs, developer, photographer, part-time sales involvement and many more.

Sidelines (e.g. Online selling)

Sidelines can also be a good help for extra income, and perhaps to pay enough for the loan.

You may venture to different forms of selling. One can find a vast amount of choices from this. Engaging in online selling can be one.

Online selling does not only take the form of a person being a medium of selling from the main store to the buyer but it could also be selling your pre-loved items, albums, display materials, collections, or furniture on Shopee, Lazada and other trusted online shops.

Instead of letting your things cramped in your house without being utilized, this way can serve in dual purpose: for your loans and for general cleaning and house organization.

Cut down family expenses

You may also want to cut your monthly expenses. But do not be too hard on yourself. Plan with a fixed percentage of your income for specific expenses.

In the midst of planning, you need to find ways of cutting some of your expenses without compromising your basic needs. You may reduce your food expenses if you look for other quality brands for your food at cheaper prices.

A big saver for food expenses is when you cook your food at home and pack it for lunch or in-between meals. You may also cut your water and electricity bills by conserving them.

Simple unplugging of unused devices can be a big help. Also, for other expenses, you can utilize inexpensive or free sites for entertainment or apps. You must avoid buying too much of everything to avoid spoilage, surplus and unnecessary expenses.

Direct Selling

Another one is direct selling which usually can be found in main stores for selling cosmetic products such as Avon, Natasha and many more. It is a way to earn money easily while selling the commodity faster because of its low cost.


If you are artistic enough, you can engage in craft making and illustration to create some magnets, personalized shirts, shoes, bags or keychains, and artworks such as paintings, animations, illustration for books, projects, and assignments. You can also establish a mini-food stall outside your house for merienda or in-between meals and rice meals in a small container or box.

These are some of the ways on how to conveniently pay our loans. It will always differ on how we execute, take or perform the following.

You may choose to do some when the burden of repayment or schedule for payment are pressuring you again. After all, our goal is to pay our loans smoothly without sacrificing much our lifestyle and peace of mind.

Notify of
Inline Feedbacks
View all comments