5 Ways to Avoid the Bad Habit of "Dig the Hole Close the Hole"

Admin BFI
20 July 2022
5 Ways to Avoid the Bad Habit of

When you have emergency needs or business capital, applying for a loan either online or conventionally is one alternative so you can get a loan that can be used directly to meet these needs. The fast and easy application process often underlies the reason someone applies for the loan.

Unfortunately, some people abuse the convenience of the service so that they borrow more than they need and can afford. As a result, debts accumulate and bad loans occur, so they are forced to apply for loans again to other financial institutions. This is what is often known as digging a manhole cover.

This is certainly not a wise thing because the existing debt will continue to accumulate. Before that happens, let's look at some of the following tips so that you don't get entangled in debt that accumulates due to being unwise in applying for a loan.


Getting to Know the Habit of Digging a Hole Cover the Hole

Debt is not something that is forbidden. What needs to be considered is how you interpret debt, whether it is a solution or a disaster. Understanding debt as a solution is when we have clear goals and are aware of the ability to pay the debt. Good debt purposes, for example, for additional business capital, home renovations, or other urgent needs such as medical expenses, wedding expenses, and others. If someone has a habit of taking debts to cover or pay debts elsewhere, then that person has the habit of digging holes to cover holes.

According to psychologist Hening Widyastuti, there are 2 things that trigger someone to go into debt, especially in the phenomenon of digging a hole to cover this hole. First, namely the inability of a person to control himself properly. Someone who is able to control himself well, then they are able to distinguish what is a top priority and what is not. In addition, with good self-control, one can separate emotions, feelings, and logic.

The second reason is that the proportion of income that a person earns is smaller than the amount of their debt. If a person has sufficient income and is able to buy the goods needed, that person does not need to be in debt. If the habit of digging holes and closing holes continues, it will affect psychological aspects such as causing stress, depression, anxiety, and other negative effects.

The Solution to Facing the Habit of Digging Hole Cover the Hole

Of course, we all want to avoid this bad habit. Here are 5 tips to avoid the habit of digging holes and closing holes.

Always Enter Installment Payments as Top Priority

When you have applied for a loan, make sure that you include debt installments on the list of your monthly expenses. This prevents you from forgetting to pay your installments, which can result in fines. Of course, you don't want your debt bill to pile up with the number of fines, right?

If you make debt installments on the first list, of course, you will remember to set aside a portion of your salary to pay the installment costs.

Save Money

If you apply for a loan, make sure that you apply for loan according to your needs and ability to pay. As much as possible, do not apply for a loan for consumptive expenses or to fulfill the desire for a luxurious lifestyle, especially if your financial condition is not stable. Instead, apply a frugal lifestyle and prioritize debt and really urgent needs as the main responsibility.

Pay Installments On Time

As discussed in the first point, remember to always set aside a portion of your salary to pay debt installments on time. This is to avoid fines and reduce the amount of debt that is piling up. By avoiding fines and paying debt installments on time, of course, you can live a calmer life without having to think about how to pay off your debts.

Be Wise in Using Credit Cards

If you still have to bear loan installments that have not been paid off, avoid using a credit card for a while. Know how to use a credit card properly and correctly. Because if you are not wise to use it, your debt installments will increase. Another thing that is highly discouraged is using a credit card to pay off your online loan installments. This will only cause problems because the debt you have will not run out and of course interfere with your financial condition.

Find Extra Income

If you feel that the income you receive each month is not sufficient to finance your daily life and your obligation to pay debts, it never hurts to look for additional income other than your main income. For example, by opening a small business, becoming an online reseller, or opening other services according to your expertise. The thing to remember is, in getting this additional income, it is not necessary to apply for another loan so as not to incur additional debt.


Those are some surefire tips for overcoming the bad habit of digging holes and closing holes. Hopefully, some of the tips above can help you avoid being ensnared by the accumulated loan installment debt, BFI pal. If you apply for a loan, it's a good idea to apply for a loan with the lowest interest rate to minimize your expenses.

Other information and conditions related to loan applications through BFI Finance can be accessed at the link below.


Information on Application for BPKB Motor Guarantee Loans

Information on Application for Car BPKB Guarantee Loans

Information on Submitting a Home Certificate Guaranteed Loan


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