Being an Overseas Filipino Worker (OFW), whether we are single or married, we all work to give our loved ones better lives. We may send money to them monthly but we must also think about how we can save. Here are some reminders for us;
- Love your work / job. This is the first step on how to save. If you don’t love your work / job, you won’t be able to push through your goal of saving money. Work each day as if it is just a relaxing walk in the park despite the stress that comes with your work / job. At the end of the day, be thankful that you still have a job.
- Think of a creative way of how to save money. You may have colorful envelopes – each labeled for the item you want to save for. Or small containers from candies or biscuits you bought from before. Colors add excitement to your saving goal.
- On impulse, some OFWs buy things they want knowing they have the means to do so. On impulse too, start saving each day the moment you return from work. You may start with a few coins, a few small bills. When salary day comes, start to make the “deposit” big and eventually, keep it in a bank or ATM account.
- Think of the simplest way for you to invest. Check your monthly salary, your monthly expenses – then look for options that you understand and that appeal to you. It’s good to ask advice from some experts but ultimately, it is you who will decide. Investment is also a form of savings.
- Be definite as to how many years until you retire as an OFW and settle for good in the Philippines. You may plan about yours and your family’s future keeping in mind to still live comfortably and practically. Again, you can seek advice from insurance experts but it is your decision that must still prevail.
- Spend on what is only necessary. If you want to buy something as a reward for your hard work, make sure to save up for it first. When the amount is reached, only then will you buy your “gift”.
- Credit card use. Some people do not like credit cards; maybe because they can’t control their spending or for some, they want to avoid debts. Just in case you have a credit card, discipline yourself when using it. Pay cash if you can to avoid charges. And the most important rule as per credit card – never, ever lend it to someone for their purchases.
“Patience is a virtue”. Be patient in saving money for something you want to have. There will be sacrifices but the best thing is that when you finally achieved what you wished to achieve, the happiness you will feel is immeasurable.
source: abscbn business