What made you decide to work overseas? Surely, there are tons of reasons, but the deciding factor was money. Sadly, what you earn in the Philippines is not enough to sustain your family’s needs. You want to provide a better life and a more secure future for your family, even if it means leaving the country and looking for greener pastures.
Here’s the reality: OFW life is not easy. Even if you earn bigger and in dollars abroad, there is no guarantee that your life will get better, especially when you don’t handle your money wisely.
Aside from that, OFWs are often bombarded with various issues from both in and out of the country. This includes:
Illegal Recruitment
Working overseas can be tempting, thanks to its promise of “a better life.” This is why you are willing to do whatever it takes to make it happen.
Be careful. Despite the government’s campaign against it, illegal recruitment is still rampant these days. Worse, people don’t seem to learn and still fall for the illegal recruiter’s tactics.
Therefore, don’t easily believe the “promises” you see online. Whether or not you are direct hired or you applied through an agency, there is a process you need to follow – no shortcuts.
Little Or Lack Of Savings
Isn’t this ironic? You’re working overseas and getting a salary that is twice or thrice of what you earn in the Philippines and still, you don’t have sufficient savings that will last you for at least three months. Even if you opened a bank account, you cannot commit to saving every month.
Why does this happen? Unfortunately, as your earning increases, your lifestyle increases as well, which is not what should happen. You also constantly give in to your family’s demands and spoil them with luxuries to help cover the feeling of guilt or homelessness since you are miles away. These amounts, when used wisely, could be placed in your savings account or Emergency Fund, which should be your priority.
Friends And Relatives Who Borrow Money
One of the biggest struggles for many OFWs is that they are becoming cash cows. Since you work overseas, people assume that you are earning a lot; hence the reason why they turn to you in case they need cash. They think that life easier for you abroad; thus making you the perfect milking cow.
It’s hard to say no to them, especially to your relatives. Still, don’t give in all the time, Instead of saving more, you end up losing more for the sake of helping. Worse, they won’t even pay up the money they borrowed – the money you worked hard for.
Unpaid Debts
Who doesn’t have one? While having debts seem “normal” these days, this is STILL not an excuse. Unfortunately, many people, OFWs included, are burying in debt due to poor money management skills and lifestyle.
“I can’t help it,” you must say. “I need money for my placement fee.” That’s understandable.
Still, do your best to pay your financial debts since that is your responsibility. Adjust your lifestyle. Instead of buying new rubber shoes for your son even if you just bought a new pair last month, focus more on savings, investment, and minimizing debt.
Don’t worry. It’s not too late to address these issues if you start now. You can also avoid this if you put your eyes on the prize and focus on the real reason why you are working overseas: for your family.