OFW Financing Their Future

"Money changes everything." as great philosophers and scholars stated.This "thing" could literally make us reach for everything we wanted in life. It shows our status in the society we live in and as for our Overseas Filipino Workers, one is just never enough. On this blog, I will tell you all the stories and life-changing situations that our OFWs experienced in the name of money.






According to the article "OFWs and their Financial Future" by Randell Tiongson, after his incredible journey going to different places just to speak to our Overseas Workers, he realized that not all OFWs are successful abroad and how some end up empty-handed going home from abroad.That is why he is there to handle and teach them how to deal with it with the help of financial education. And as of lately, because of him, more and more OFWs are investing and saving than before which is a very huge development for him and their future.



"The growth in the financial literacy for OFWs is largely because of the efforts of many OFWs who are financial educators themselves. My work is such a blessing because I get to have more and more OFW friends who are finance advocates themselves… they have become heroes amidst other heroes."

While reading some interesting blogs, I come to a very straight-forward article that really caught my eye upon why most OFWs are still financially bankrupt. According to the article "Why Do Filipino OFWs Remain Poor?" by Paul Farol, he compared our OFWs to sharks "In a certain ways, they’re on top of the food chain when it comes to the amount of money they earn and in certain instances, in terms of the professional advancement that they achieve abroad." which is a very good comparison of what our overseas workers are in reality. Most of the OFWs remain poor becuase when they go home, they spend all their earnings just to bring happiness to their families, they are expected to solve the financial problems of their friends and relatives. By the time they go back to their work abroad, they don't have anything left, and need to start saving all over again.

"This is a reason why a great number of our countrymen leave to work in foreign countries.  This is also the reason why OFW remittances account for a huge chunk of our country’s foreign currency earnings."

While still young, learn to save every single centavo of your earnings and invest it to stocks, time deposit, insurance, properties or business.  Learn to give importance to your hard-earned money so you have something to use in the future. As the saying goes "All days are not same. Save for a rainy day. When you don't work, savings will work for you."