5 Money Principles Every OFW Needs to Know by Heart

Being an OFW can be exciting. The fact that you are earning in dollars makes you more capable of not just buying everything your family wants but also providing them a better life. You are also closer to temptations since you have access to brands that are not normally found in the Philippines.

Because of this mentality, thousands of migrant workers are forgetting how important money is. To make sure you stay on track with your financial goals, here are back-to-basics money principles every OFW needs to know and master by heart:

Always save before you spend. 

Is there anything more basic than this?

It is never okay to put savings towards the end of your priority list. In fact, you should automatically set aside a portion of your monthly income for savings and this should also be included in your monthly budget, regardless of how much you are earning.

Keep in mind that the OFW life is uncertain. If you prioritize your family’s bilin instead of saving what you can, you might end up going home with nothing but an empty pocket – and you don’t want that to happen.

Needs versus wants. 

It is tempting to buy the items you see in stores and have it shipped back home. Your family will surely love it. But before you go straight to the cashier to pay the items, ask yourself this question: do they really need it? 

It sounds like a simple concept, but this is often forgotten by many. You have the tendency to fill your balikbayan box with items that your family don’t really need (like 10 cans each for spam and corned beef). Buy only things that matter. If you want to save more, don’t pressure yourself to send them a box frequently.

Money has time value. 

You heard this countless times, “The earlier you save, the bigger the return will be.” That’s true. This is why you should never procrastinate when it comes to saving and investing your money.

Read, explore your options, and educate yourself about the best investment choices for you. Ask around if it helps to give you an idea how different types of investment work. Remember that now is the perfect time to grow your money while you still can and you are able to work. Don’t wait for something bad to happen before you take action.

Assets must be greater than your liabilities. 

First things first. Assets are useful and valuable things of economic value that bring you money such as income-earning property while liabilities are debts or obligations you owe someone like loans.

Ideally, assets must be greater than your liabilities for a more secure financial future. This would also mean higher or positive net worth. It is important that you know the difference between the two so you will know how much you owe.

Health is wealth. 

You might be wondering why this is included as part of money principles. The answer is simple. When you are healthy, you are mobile and capable of doing things to be able to earn money. You cannot enjoy the value of saving and investing if you are sick.

This is a common issue among OFWs. Most of you work 24/7 to be able to send big money to your family back home. When you do this and rarely get enough sleep and rest, your health is compromised. The next thing you know, you are using the money you earned from your sidelines in treating your illness.

Relax,, take it easy, and get rest. Stick to one-day rest day and your health and body will thank you for it.

DOLE Suspends the Issuance of Overseas Employment Certificate of OFWs

Congratulations! After months of job seeking, you finally landed a job that allows you to earn in dollars. You attended and completed the trainings, submitted all the required documents including medical examination, and even sat down for one day to attend PDOS, which is compulsory, by the way.

What’s next?

You need to secure your OEC or Overseas Employment Certificate. 

What is this? 

The OEC is a requirement imposed by POEA to make sure that all migrant workers are documented and protected. Also referred to as “exit pass,” OEC will be presented to international ports of exit in the Philippines to prove the legitimacy of your status as OFW. You will also need the OEC if you intend to take a vacation in the Philippines and go back to your country destination after your vacation leave.

The OEC will likewise exempt you from paying travel tax and airport terminal fee.

Then came DOLE’s Department Order (DO) No. 185-17

In the latest Department Order issued by Labor Secretary Silvestre Bello III, he declared that the issuance of OEC is suspended for 15 working days, both acceptance and processing of application.

The reason behind such suspension?

To cleanse POEA of corruption and to protect the people against illegal recruitment activities. DOLE recognized the presence of individuals and companies who are taking advantage of the increasing demand for workers abroad and the agency aims to put a stop on that. The Labor Department likewise found out that there are corrupt POEA employees who who issue OECs to illegal recruiters.

During the duration of the suspension, there will be an investigating committee who will look into the root of the problem and submit appropriate recommendations.

What is the effect of suspension?

The suspension of issuance of OEC means approximately 75,000 Overseas Filipino Workers cannot be deployed – yet – since this “piece of paper” is an important document required to prove your status as an OFW. It will also take time, perhaps months, before they can get their OEC.

Nonetheless, not all migrant workers are affected. Returnee OFWs, workers on leave (balik manggagawa), and those hired by international organizations, sea-based recruitment agencies, and diplomatic corps are exempted from this suspension.

Don’t worry. The government is doing its best to normalize the situation and at the same time, put an end to illegal recruitment.

The Ultimate Guide on Money Remittance for OFWs

Remittance is and will always be part of every OFW’s life. In fact, it is one of the penultimate reasons why you are working overseas since you want to provide a better life for your family. Many companies are offering remittance services since there are millions of migrant workers and the increasing demand for remittance services that will make transfer of money easier and more convenient.

Before you decide on what remittance company to employ, here are important factors you need to look into:

  • Cost – Every remittance company charges a specific fee when transferring money. Ask about the service fee first since some companies charge higher than the others.
  • Convenience – Can you send money easily? Will your loved ones receive the money in a place accessible to them?
  • Reliability – Is the transfer of money safe?
  • Speed – Can your family get the money immediately or will it still take a few days before they can withdraw it?

Given these factors, here are your options when sending money to your family:

Traditional Money Transfer Operators

You know them as MoneyGram or Western Union among many others. In fact, this has been the go-to remittance centers of many OFWs because of speed and convenient service. It is impossible to miss them since traditional cash agents are conveniently situated to make money transfer easier for you. Your family can also get the money within minutes up to one day, depending on the type of money transfer.

The issue with traditional money transfer operators is that they can be more expensive compared to other remittance channels. The quicker you want the transfer to be, the higher you have to pay for the service fee.

For instance, Western Union charges $18 for cash pick-up, which will be available within minutes. If you opt for bank transfer, you will be charged $8, but the recipient will get the money after a day. On the other hand, MoneyGram will charge almost $20 for cash pick-up, which the recipient will receive in minutes.

Nonetheless, traditional money transfer operators is ideal if any of the family member has no bank account, Paypal, or no access to the Internet.

Banks with Remittance Facilities

If you are looking for a secure and cost-effective way to send money back home, then banks are your best options. Major Philippine banks like BPI and BDO also have branches overseas to help facilitate bank transfers.

The procedure is simple. Simply deposit the money at the bank and your recipient can easily withdraw it. Plus, you don’t have to worry about the cost since rates are fixed regardless of how much you send or the manner of receiving the money.

Apparently, this will only work if you or any member in the family has a bank account. Otherwise, you won’t be able to enjoy the savings + remittance account rolled into one. Transfer cost is higher too, with BDO charging as much as $30 if you prefer door-to-door delivery.

Check out the banks with remittance services here.

Online Money Transfer Providers

You can’t physically go to cash transfer operators or banks to send money in the Philippines all the time due to time constraints. In that case, you might want to avail of online money transfer services for ease and convenience. All you need is you create an account, transfer money online, and your family can receive the money on the same day. Transfer cost is cheaper as well, with Xoom charging as low as $4.99 with your recipient receiving the money on the same day. Cash pick-up is available, but if you prefer more security, bank transfer service is also offered.

The issue with this type of remittance option is the security risk. Online fraud and malware attacks are rampant these days, which is why security measures are employed to minimize the risk.

There is no perfect remittance center since all three channels have their respective pros and cons. The best way to find out is to try each channel available while taking into consideration the fees charged. Consequently, don’t be afraid to ask about the fees. You want to send as much money as you can to your family back home and surely, spending a big chunk of money on costs is not part of the plan.

5 Money Saving Tips for OFWs this Christmas Season

Money Saving Tips during ChristmasPasko na naman! Surely, your family back home has a long list of bilin – and they are expecting to see every single item inside the balikbayan box. After all, you only go home once a year, so you want to make sure that every member of the family is happy.

Apparently, Christmas season means more spending than saving. Since you are earning in dollars, your family and friends are expecting you to be extra generous during the holiday.

Don’t worry. Remember these tips to make sure you won’t compromise your savings even if it’s the season of giving:

1) Set a Christmas budget. 

and make sure you stick to it!

This is the first thing you need to do even before the festivities start. Christmas season means eating out, shopping, preparing for Noche Buena, going out with the family, gift-giving, and the list goes on. It is tempting to use your bonus, especially since you got yours in dollars. If you don’t set a budget, you might end up going back to the country where you’re working with no money at all.

Don’t live the millionaire life and budget everything. Having a budget encourages you to spend within your means and avoid going overboard. Try the envelope system and place a particular amount for every expense. This way, you still have something left as you head back to your normal routine.

2) Make a Christmas list. 

Aside from setting a budget, making a list is also important during this season.

List down the people you plan to give gifts to and the gift you plan to give. This way, you can easily keep track of your spending and at the same time, make sure that you won’t miss someone who really matters to you.

Remember: you don’t have to give gifts to everyone you know. Choose those who are closest to you. Be practical.

3) It’s okay to say no. 

Your kids want this and that, and to make up for the time lost, you gave in to their demands and buy everything they want. Apparently, that’s not a wise thing to do, especially if you want to be financially secure.

The best way to handle this is to impose a one-gift policy. Let your family choose what they want for Christmas and check if it is within the budget. Explain the need to budget your spending as well since you will never know what could happen in the future.

Hey, this includes relatives and friends as well.

READ: How to Say No to Extended Family’s Requests

4) Stay away from freebies. 

Christmas sales and freebies are rampant this holiday season. Surely, you are excited to buy something for every member of the family, which you can’t buy in the Philippines.

Relax, take a deep breath, and never buy anything based on the discount or freebie available. Nothing is for free and you will always have to pay for something one way or another. Go back to your list and stick to what you can afford.

5) Spend your Christmas bonus wisely. 

Does your employer give Christmas bonus? Don’t get too excited yet. If you really want to prioritize saving even during Christmas season, then you need to be wise on how to use your bonus.

You can get a few dollars from it, but the rest must be kept for emergency purposes. Use the additional money to pay off existing debts (a must!), start an Emergency or Retirement fund in case you still don’t have one, or even invest it in products like Mutual Fund or stocks. You can even deposit a part of your bonus in your savings account to increase your money.

We still want you to enjoy the holidays, but this doesn’t mean spending everything you have up to the last centavo. Remember that Christmas is about family and togetherness, and that’s what matters more than anything in the world.

Should OFWs Pay Income Tax in the Philippines?

They say the government’s taxing power starts from the moment you were born up until you die (and beyond). That’s true. After all, the citizens of a particular country are required to contribute proportionate amounts so that the government can provide necessary services to its citizens to improve the quality of life.

What if you are working overseas? Are you still required to pay income tax in the Philippines?

Here’s what we know.

First, who is an Overseas Filipino Worker? 

OFW is a Filipino citizen employed outside the Philippines where physical presence is required to be able to perform work in the country of deployment. Take note that your foreign employer pays your wages, salaries, and other benefits, and not the agency who facilitated your deployment.

You must be registered with the POEA to be an officially recognized OFW. Nonetheless, your basic rights as a Filipino citizen remains even if you are working abroad.

What’s the rule on OFW’s salaries? 

Under the Philippine Tax Code, all Filipinos will be taxed based on the income derived within and outside the Philippines. This means wherever you go, everything you earned is taxable because you are a Filipino citizen.

Don’t panic yet. There is a principle called Tax Reciprocity which exempts you from paying income tax in the Philippines.

Under the Tax Reciprocity rule, Filipinos working abroad are exempt from paying taxes in the Philippines since your income is already being taxed in the country where you are working. Similarly, foreign individuals working in the Philippines will no longer have to pay for taxes in their home country since they are already paying taxes here.

Aside from income abroad, the following also entitles tax exemption for OFWs:

  • Airport fee
  • Travel tax
  • Documentary stamp tax imposed on remittances. To avail of DST tax exemption, the OFW must submit Overseas Employment Certificate (OEC), valid membership certificate from OWWA, and electronic receipt issued by the POEA prior to remittance transaction.

Does this mean Overseas Filipino Workers will no longer pay taxes in the Philippines? 

That depends. For income alone, you don’t need to file an income tax return. BUT if you are receiving income from sources within the Philippines, then those income sources are subject to income tax and must be paid to avoid tax evasion case filed against you.

This includes but not limited to:

  • Income derived from business
  • Rental of property
  • Earnings from investment

Still, it is hard to escape the government’s taxing power. Wherever you go, whatever you do, the government will always find a way to impose tax on you.

OFW’s Guide on How to Invest in Mutual Funds – Simplified

Nothing is certain, especially if you are an OFW. One day, you’re earning in dollars and living the life of a millionaire and the next day, you’re back home because you were among those workers who were retrenched. This is why it is imperative that you invest your money to make it grow.

One of the ways to grow your money is by investing in mutual funds. Here’s what you need to know about it:

What is a mutual fund?

Mutual fund is a type of investment fund that collectively pools money from various investors, both individual and corporate. This pooled money will be managed by a professional fund manager, who will then invest the fund in stocks, money market instruments, bonds, and other forms of securities.

The value of each share of the mutual fund is called Net Asset Value or NAV. It is computed daily based on the total asset value of the fund divided by total number of outstanding shares of the fund. If NAV is increasing, then that means you are earning.

You can earn from mutual funds in two ways, which is already net of charges and expenses:

  • When the securities held and owned by the fund increased in value
  • Through dividends or interest income received from the assets held by the pooled fund

What are the different types of mutual funds? 

  • Stock or Equity Fund – This type of mutual fund is invested in stocks listed in the Philippine Stock Exchange. Among all types of mutual fund, stock or equity fund yields the highest returns. Apparently, this type comes with highest risk as well.
  • Bonds Fund – This type of mutual fund is invested in fixed income securities like government securities (T-bills, treasury notes, bonds) issued by the government or commercial papers (LTNCD, corporate bonds) issued by Philippine companies. Possibility of loss is lower compared to stocks because bonds are usually guaranteed.
  • Balanced Fund – This is a mixture of equity and bonds fund, thereby creating “balance” between high-growth-high-risk investment and conservative growth of fixed income securities. If you want to be on the “safe side,” this is highly recommended.
  • Money Market Fund – This is the same as Bonds Fund because the pooled money is invested in fixed income securities. Unlike Bonds, money market fund is good for one year or less.

Tips in choosing mutual fund

  • Identify your investment goal. Are you willing to take a risk to grow your money? Or do you prefer to stay on the safe side? It is important that you establish your investment goal first to help you decide what kind of mutual fund you will get. This way, you are more comfortable in putting money for investment.
  • Know the risk you are willing to take. Are you a risk taker? Then stock or equity fund is your best option. If you are not willing to take a risk, then bonds are recommended. Otherwise, balanced fund is ideal if you prefer medium growth with medium risk.
  • Explore and then choose. There are many banks and financial situations that offer mutual fund. Make sure to look into them first, compare what they have to offer, ask recommendations, and then decide who to give your money to. Trust your gut and find someone you can trust.

Still, don’t limit yourself with mutual funds since this is just one of the many ways to make your money grow. In case you need extra funds to, say open up your own business, Balikbayad is here to help. Submit your application form online for pre-approval and we will get back to you as soon as we can.

5 Practical Ways to Help You Save Money and Increase Your Savings Fund

Saving is easy. Committing to saving and making sure that you put the amount you promised is hard. After all, OFW life means you will constantly get messages from your family back home, asking if you already sent them the amount they were asking. You are also responsible for the majority of the expenses of your family, so you have to work double time to cover for everything.

This is why saving is important.

How will you do this? You can try these simple, practical, yet effective tips to increase your savings:

If possible, walk from point A to point B. 

Public transport is fine and could save you a lot instead of investing in a car and paying for gas using your own money. If you want to save more, then why not walk when going from one place to another, especially if the distance is not too far. It will save you a lot and more importantly, you get to exercise as well.

Skip fast food and restaurant food. 

It’s okay if your boss invited you for after-work dinner in this fancy restaurant or to attend an event in this place organized by the Filipino community in the country where you are situated. Nonetheless, it is best to buy your own food, cook them at home, and bring them for lunch the following day at work. You will be able to save more and at the same time, you are sure that you are eating healthy.

Don’t mind the surprising looks from your co-workers. You need to save as much as you can because you’ll never know what could happen in the future.

Quit your vices. 

Do you smoke? How about drink?

Vices could help you relax, especially when you are feeling homesick. It’s hard to say no to friends as well since you don’t want to be labeled as KJ. Unfortunately, this means added expense on your part when you could’ve used the money to increase your savings. The worst part is this type of expense is slowly eating up your budget – and you won’t even notice it.

For instance, a pack of cigarette costs $6 per box. You consume two boxes a week, which means $12. Multiply this by four weeks, thereby giving you $48 per month. This leads to $576 per year, which you spend on cigarettes alone. Don’t you think this amount is better off in your savings account?

Avoid mainstream coffee. 

Starbucks coffee is good, but do you really need to get your caffeine fix from popular coffee shops and spend a few dollars for it – everyday? It’s okay to buy mainstream coffee once in a while, but if you are making this a daily habit, then don’t be surprised if you end up with almost nothing every week.

Limit trips to the malls and other recreational areas. 

You’re in a different country, so might as well what it has to offer that you can’t find in the Philippines, right? You can do this during your off days, but the problem with this is that your spending could escalate. You might be tempted to buy things you don’t really need where you end up spending more.

Still, this doesn’t mean you should stay at home all the time. The key here is to schedule your trips and set aside a specific budget for it. This way, you don’t spend too much money on things that won’t last forever.

At the end of the day, discipline is key to help you achieve bigger savings. Know your priorities, commit to limited spending for maximum savings, and make it a habit to set aside money for savings. Don’t worry. All of the sacrifices you are doing are worth it.

5 Reasons Why OFWs Live the One-Day-Millionaire Life (and Don’t Be One of Them!)

What is the best thing about working overseas? Is it the opportunity to go in a different country, which you only get to see in pictures? Is it the ability to travel? How about the chance of earning in dollars, which means bigger cashflow for your family every month?

Whatever it is, one thing is for sure: you want to make the most out of your stay abroad. The opportunity is already there and within your reach, so why not live in the moment, right? After all, when you get back in the Philippines, it will be back to the old life.

Still, this doesn’t mean you should spend most of your hard-earned money shopping and keeping up with the latest gadgets. Otherwise, you might end up having nothing in case of rainy days.

Why do many OFWs live the one-day millionaire life? Here are some of the reasons:

Social Pressure

With the popularity of social media these days, it is easy to see what others have that you don’t. You know the latest trends and whose friend has it already. If you don’t give in, you feel left out because you can’t relate to what they are talking about.

As a result, you felt the sudden need to belong, so you gave in to temptation – even if it means using a portion of your savings.

Show Off

Did you know that showing off is the enemy of simplicity, practicality, and frugality? Boasting what you have sends a certain impression to people that you are “rich” because you are capable of spending money on expensive, yet non-important things. Little do they know that it took you months and skipped a lot of meals to be able to afford the things you are showing off.

Keeping up with the Joneses

You will always have this friend or neighbor who can buy expensive things. Because you felt the need to impress people, including people you don’t really like or are jealous off, you also spend money on stuff you don’t really need.

For instance, you saw a colleague who went to Hong Kong and checked in at the Disneyland Hotel with his entire family. You suddenly felt that need to go on a vacation as well the next time you go back to the Philippines, so you have something to show off.

The problem with this is what if the time comes when you can no longer buy material things just to keep up with your friends or neighbors? You might end up getting buried in debt just to maintain the lifestyle you are aiming for.

Spoiling Children 

You don’t want your family to feel that you left them behind. Since you can’t be physically present in every milestone in their lives, you try to compensate it by showering them with gifts and giving them everything they want. This way, you can make up for the time lost – while compromising your savings.

Enticing Ads 

You pass by the mall on your way home when you saw “Buy One, Take One” on the rack. Or a free item when you purchase something worth this much. That’s a steal, right?

Well, not exactly. Businesses can be creative in coming up with gimmicks just to entice customers to buy from them. If you’re not “strong enough” to resist temptation, you’ll end up buying a lot of things you don’t really need and justify it with an excuse not worth it.

More Practical Business Ideas for OFWs for Extra Income

There are many ways to ensure that you and your family are financially secure. Aside from saving and buying things that are necessary, one of the things you can do is to put up your own business.

“Wala akong pang-capital,” you might say.  That’s fine. There are businesses you can try with little capital. In case you are willing to take a risk and there is extra cash, here are business ideas you can try for additional income:

Water Refilling Station

Who doesn’t drink water? Clean water is essential in every Filipino household, so if there is none in your area, then why not put up your own one?

Look for various suppliers for water refilling equipment and then compare prices. If you want to make it easier, consider franchising a water refilling station. Make sure to inspect how the purification process is done to ensure that the water is clean. One customer brought to the hospital for possible poisoning could negatively affect your business.

Required Capital: Starts at P80,000 to P500,000

Food Cart or Kiosk

Aside from water, everyone loves to eat. This is a good opportunity for you to capitalize on by offering food to people at an affordable price.

The good thing about food carts is that it is easy to operate and with minimal manpower. Place the food cart in areas where there is high foot traffic such as LRT station, market, grocery, mall, or even outside the school. You can even put up your own food cart and who knows, you could open up your own franchise to other people.

Required Capital: Starts at P20,000 to P500,000, depending on the franchise

Carwash 

Surprisingly, people are willing to pay for someone to clean their cars. Why not try it too?

The good thing about carwash is that you don’t need fancy equipment to make it work. All you need are people who will make sure that they will get the job done properly so that people keeps coming back for your service.

You can also sell car items such as cleaning materials, wax, or car soap. Check for these items in the country where you’re working and sell it in the Philippines.

Required Capital: Starts at P20,000

Rental 

Do you have an unused property? Why not utilize that property and turn it into something that could generate income?

You might be spending a big chunk of your savings for the construction, say one- or two-storey building. Make sure to advertise the property during construction period so that people will know that there is a new commercial area in town that is available for leasing.

If you think that construction is still out of your budget, you can use spare room in your home and look for boarders. There is a security risk here since you are allowing people to enter your home, so make sure to scrutinize closely every possible boarder.

Required Capital: Minimum of P100,000 for construction of property

We understand that not all OFWs have sufficient capital to start their own business. This is why Balikbayad is here to help to make your entrepreneurial dreams come true.

Applying is easy. Simply fill out an online application form for pre-approval, submit the documents needed (don’t worry, the requirements are reasonable and easy to comply), wait for approval, and you can get your cash in no time.

Say Goodbye to OFW Life with the Help of These Tips to Attain Financial Stability

How many times have you heard that OFW life is not forever? It may sound like a broken record, but this one is true. This is why it is important to think long-term because what you have right now is only as good as the term of your contract.

Don’t worry. There is still a way to make the most out of your work overseas in order to attain financial stability.

Here’s what you can do:

1) Make saving a habit. 

They say it takes 21 days to establish a habit. Start allotting a small portion of your monthly salary exclusively for savings and you might be surprised with how much money you will have at the end of the month – but don’t stop with 21 days. The more you save, the better.

Before you splurge for your family or make any purchases, make sure you set aside a portion for savings as well. You’ll never know what will happen in the future, so it’s better to be prepared.

READ: The importance of having a savings account. 

2) Know the difference between needs and wants. 

Needs are necessary expenses or something you can’t live without such as water, electricity, and food. In other words, these items are non-negotiable. On the other hand, wants are something you can live without. Wants are not necessary expenses and something you can delay such as new clothes, shoes, or even vacation with the family.

Know the difference between what you REALLY need and items you can delay. Would you rather maintain an extravagant lifestyle even if the hole in your pocket is getting bigger or having a bank account that could last you for years?

3) Involve your family in your journey towards financial stability. 

Being financially stable should not be placed in the shoulder of just one person. In fact, it should be a collective effort, which involves every member of your family.

Therefore, train your spouse and children to save and prioritize only what’s needed. Don’t immediately give in to their material demands and instead, instill the value of saving. You’ll be happy to see how much you have every end of the month because everyone in the family is financially responsible.

READ: Money Management Techniques for OFW Spouse and Children 

4) Consider a sideline for extra income. 

How much you’re currently earning will never be enough. Your cost of living and family’s needs are constantly increasing, leaving you no choice but to reduce your contribution for savings.

At this point, you might want to consider getting a sideline for added income. Take advantage of your off days and look for jobs you can do for a few hours. It may not be a lot, but what you’re earning can be allocated exclusively for savings or any sudden expenses back home.

READ: Sidelines you can try for extra income

5) Invest your hard-earned money wisely. 

No, a car is not an investment. An expensive bag, gadgets, and even home appliances are not investment. You are throwing your money away because the value of these items don’t appreciate or increase over time.

By investment, this means a facility where your money can grow. It includes mutual funds, stocks, UITF, time deposit, and if budget permits, a property. Their values increase over time and in case you need to sell something to finance an urgent need, these items could yield higher return.

6) Start your own business. 

Not all businesses are meant to succeed. Still, this doesn’t mean it is a risk not worth taking. Starting your own business, even if it’s a small one, can be a good way to secure your family’s future financially. With the right business practices and techniques, you can make your business bigger in no time.

Speaking of expansion, Balikbayad is here to help We offer loans to OFWs like you when it comes to cashflow needs at an affordable rate. Submit your application now and we’ll get back to you as soon as possible.