Let’s face it, life in Nigeria can be challenging. Between managing job stress, side hustles, ‘urgent 2k’ requests, and chasing your dreams, it’s easy to see why many young people are turning to lending institutions for quick cash.

One click, and boom, money lands in your account. No guarantor, no long story.

But here’s the thing: a lot of us are borrowing money and disappearing without paying it back. And while that might seem like no big deal to some people, it could come back to haunt you in ways you didn’t expect.

Let’s talk about why being creditworthy (someone who pays back loans on time) actually matters.

Your Credit Record is Lowkey Your Financial CV
You know how employers check your experience before hiring you? Well, financial institutions do the same. They check how you handle money. So if you borrow N30,000 from a lender via an app and vanish, that info doesn’t just disappear. It goes into your credit record.

Tomorrow, when you need a loan to address an urgent matter, the system could flag you. All because of a small loan you ghosted on. Don’t let 10,000 now mess up 10,000,000 later.

Borrowing Without Paying Back is Risky
There’s this idea that borrowing and not paying back is ‘smart’ behaviour. But let’s be real, it’s actually risky and shortsighted.

Some lenders go as far as texting your contacts, embarrassing you, or calling your mother. And no one wants their mother involved in a N5,000 loan drama.

The truth? Being financially responsible is way cooler and safer.

Credit is the New Flex
You know how, in the abroad, people are proud of their credit scores? That’s because having good credit opens doors, better loans, more trust, even better job or rent opportunities. Nigeria is slowly moving in that direction, too. So, building your credit now is like building your street cred with the banks.

The Rest of Us Feel It Too
When many people default on loans, lending institutions raise their interest rates or make borrowing harder, even for those who pay on time. So that one-time let me ignore them’ attitude affects other people too. It’s like spoiling market for everyone.

Let’s not be that generation that normalises dodging debt. We are better than that.

Being Creditworthy is a Sign of Growth
Think about it. If you can manage a loan and pay it back on time, that shows maturity. It means you can plan, budget, and stick to your word. And let’s face it, adulting is hard enough. So any small win, like paying off a loan, is worth celebrating.

Your Reputation Still Matters
We live in a digital age where your behaviour leaves a trace. From social media to financial records, nothing is really ‘hidden’ anymore. Imagine missing out on a future opportunity just because someone saw your name on a loan defaulters list. Not cute.

We get it, sometimes you need cash fast, and that’s okay. But borrowing should come with the mindset of paying back. It’s not just about avoiding drama from lending institutions; it’s about building a name for yourself as someone who can be trusted.

So, next time you think about taking a loan, ask yourself, ‘can I pay this back’? If yes, go for it. If not, maybe hold off or find another way.

Photo source: Pexels