5 Things OFWs Don’t Need in Their Lives

You may be living the “best life” because you are in a different country and get to earn in dollars. If that’s the case, how come you still go back home with almost no savings and still have to look for another employment overseas?

There are many reasons why many OFWs are not able to achieve the life they dreamed of. Perhaps, the following reasons are taking over (which you need to do something about to maximize your stay overseas and attain the life you promised):

1. Too much or owning the latest gadgets

Your iPhone 6 is still working. Why do you need to buy iPhone X or the latest phone from Samsung?

One of the things you don’t need in your life for bigger savings is too much gadgets or buying the latest gadgets in the market. Even if you can sell the old one to a friend or send it back in the Philippines for your family’s use, the value of the gadgets depreciate, thereby giving lesser value for your money.

Unless it’s broken, keep it. After all, you will never run out of new gadgets in case you finally decide to buy one.

2. Friends or colleagues who are bad influences

“Tara, inom tayo!” “Sweldo naman. Labas tayo sandali.” 

You will always find someone who will constantly ask you out for a few drinks or to eat out. There will also be people who will nag you to buy this and that even if you don’t really want to. If you happen to come across these people, do your best to stay away from them.

Surely, they mean well, but keep in mind that your have priorities and responsibilities more than anything else. A few drinks to unwind once in a while is fine, but if this becomes a weekly habit, then you might end up in trouble – financial trouble.

3. Too much debt

Credit card debt, housing and car loan, several personal loans, online cash loans – you name it. You have it all under your belt. If you notice that you are not able to save enough or at least set aside money for your Emergency Fund, then too much loans could be the reason. To be honest, you don’t need them in your life since they will hinder you from maximizing your hard-earned money.

What can you do? Pay up. Identify the loans with highest interest rate and start from them. Try consolidating loans as well so you have to worry about one thing only. Forget about savings – for now – until you are able to reduce your debts.

READ: Loan Repayment Tips for OFWs

4. Lack of motivation to succeed

Everybody has a dream. The difference lies on the strategies that one will employ in order to make those dreams happen. As an OFW, you are not exempted to that.

Apparently, there are some who settle and rely on the monthly income they receive every month. Don’t stop there. If you want to make it big and settle in the Philippines for good, then you need to motivate yourself in order to succeed. Keep your family in mind and remember those promises you made. This way, you won’t settle.

5. Inability to say “NO” to people. 

Your cousin borrowed money because his son was sick. Your nephew requested for the latest Jordan rubber shoes and you immediately said yes. Your mother is sick so you sent money for medical expenses. Your daughter wanted a party on her birthday and you agreed.

When you say yes and give in to all requests, then you might end up with almost nothing every end of the month. Learn to say no on the right situations. Don’t worry. It’s not a crime.

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