Most of the time, OFWs are the sole breadwinners for the family and have to send a big portion of their salaries to the Philippines every month to sustain their families. But you cannot be forever working overseas. How about if you will grow old or not physically capable for working abroad? Oftentimes, especially in the blue-collar jobs, an Overseas Foreign Worker has no retirement benefits. So what will be your means of income when you return to the Philippines?
Thus, an OFW should save for the rainy days or for the time you have to return to the Philippines. Here are some simple ways on how to wisely manage your hard-earned money:
1.) Set a goal
Set a realistic goal that will help you motivate to work. Simply jot down all the things you want to achieve by the end of your overseas contract: like having your own house, a car or a business. Ito yung goal mo kung bakit ka nag abroad aside for the good future of your family.
2.) Create a budget
Set a budget plan for your monthly expenses and buy only things that you need like your basic needs. Iwasang bumili ng mga bagay bagay na di naman talaga kailangan.
3.) Pay your debts first
As soon as possible, clear all your debts. Bayaran mo ang mga utang, start with those highest interest para hindi ka malubog sa kinauutangan mo.
4.) Spend less
Avoid buying too much gadgets, buy only things that are good investments. Huwag makipagsabayan at pakikipagsiklaban sa mga kaibigan para lang maging famous at may ipagyabang lang. Di na bali na di “IN” sa uso basta wala lang utang.
5.) Save money
Make saving as a habit, set aside small amount for the future; para may magamit kang pera in case if magkaroon ng emergency at di mo na kailangan mangutang pa. Kung may ipon ka, may peace of mind ka at hindi ka kakaba-kaba if may biglang sakuna.
6.) Quit using credit card
Misuse of credit cards will lead you to big debt. Sometimes kasi di mo ma control ang paggamit nito, so better avoid using it. Lalo na huwag gumamit ng credit cards para lang sa mga luho at magpa impress sa ibang tao.
7.) Huwag maging happy go lucky
Don’t spend too money on drinking, night out and hanging with friends. Isipin mo ang ang reason kung bakit ka nag abroad, di ba dahil ito sa pamilya mo? If ma-homesick ka, tawagan mo lang ang asawa at mga anak mo para iwas gastos, tentasyon at gulo na rin.
8.) Set your priorities
You are working abroad for the good future of your family, kaya iwasan gumastos para lang mapagbigyan ang ibang tao. Di mo obligasyon na maging sponsor sa barrio fiesta nyo o maging donor sa birthday party ng kamag-anak mo.
Huwag madamot, pero huwag mong pasanin lahat ng pangangailangan at problema ng miyembro ng buong angkan. Alalahanin mo pinagtrabahuan mo bawat sentimo nito, dugo at pawis ang puhunan at di mo basta basta pinupulot lang ito.
9.) Try to have investments, shift yourself from (Overseas Filipino Workers) OFW to OFI (Overseas Filipino Investor)
Maghanap ka ng sound investment opportunities o negosyo. Sumali sa mutual fund, cooperative or mag-invest sa stock market.
Let your family know your goals. Talk with them about your plan. Ask them to be part of the accomplishment!
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