In the age where our life is influenced by digital technology, rapidly-growing e-commerce, easier online shopping that is just a click away, attractive credit card promotions, and fast delivery services are all encouraging working-age consumers to spend more money.
Social media not only allows people to easily access various products available through online marketing, but offers them a way to show off their super-moments, including buying and using brand-name products, fine dining and luxury living, leading to a hit hashtag #ItsAMustHaveItem. This is a form of social pressure, which we think is the major cause of debt problems.
In addition, a shocking rise of Thailand’s household debt has caused the government to become concerned and issue various measures indicating that debt problems are a national problem. Although the concerned government agencies, as well as the private sector, are not nonchalant and continue to reiterate the importance of debt problems, there aren’t many people who are listening.
This is where Ngern Tid Lor’s campaign “Debt or Happiness” originated. The campaign aims to raise public awareness of debt problems. However, because we knew that the same old ways of communication may not create much change, we chose to communicate honestly and straightforwardly in a Ngern Tid Lor’s style 11-minute-long short film entitled “Debt Hell” The short film portrays a mysterious man trying to warn, then giving up warning and starting to encourage a couple caught in the consumerism trap, loving luxury food, luxury travel, and luxury life, addicted to showing off on social media, and unconcerned about saving money. They eventually become a victim of informal debt, which ruins their life.
Moreover, Ngern Tid Lor has published the book “25 Common Mistakes That Will Ruin Your Life/25 Ways of Thinking That Lead to a Comfortable Life.” The book presents two sides of the same coin of attitudes toward life, one is overcome by emotion and immediate desire (leads to ruin) and the other is governed by rationality, in order to plan for long-term financial security (leads to a comfortable life). Written in a satirical style, the book is intended to incite readers to think carefully about which way of living they want.
Many people may ask why Ngern Tid Lor, which is engaged in a loan business, does not want people to get into debt and what we get from this campaign.
At Ngern Tid Lor, we are committed to our intention to be a formal funding source with transparency and fairness to provide financial solutions for people who need money to build a career and life or for living expenses. We hope to help Thai people who lack access to the banking system. We understand that financial knowledge and discipline, together with opportunity to access formal financial services, are a basis for sustainable quality of life.
We sincerely hope that our “Debt or Happiness” campaign will help make Thai people spend their money wisely and think carefully before borrowing.
Watch the short film “Debt Hell”
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