Practical Money Saving Tips for Overseas Filipino Workers
There are practical ways to save money everyday.
Nowadays, practicality trumps luxuries. We have to realize that even if we do have a high-paying job, we cannot have it until the end of time as our productive years would dwindle and we might not be able to prepare for it properly. What is disturbing, is not a lot of people realize this – and some just do not seem to care.
Practical Tips for Overseas Filipino Workers – Ways to Save More Money Everyday
Overseas Filipino Workers are among the most distinguished classes in Philippine society and some of them still really do not get the idea that they have to save for a better future. We cannot have that because we have to live as best as we can – and we have to be able to educate them to become frugal and practical for their future.
Here are some practical tips for OFWs to be able to save some money so that they can secure their family’s futures. Remember, it may be difficult at first, but when you get to start it, it would suddenly become automatic and integral to your routines.
Set your priorities.
Before you do anything – make sure you know for whom and for what you are doing things for! Make sure you know that you are doing this for your family – you must always remember that! It’s all about the attitude and remembering for whom it is you’re toiling for away from your country! As one of the commercials so truthfully said, “Para kanino ka ba gumigising?”
Never follow the bandwagon.
Lots of people follow the bandwagon especially when it comes to gadgets and other cool stuff. You really do not have to follow them – you have to be practical – you do not need to change phones every six months. You have to be practical – yes, I did say it again! – and do not bend to the temptation. Yes, it may look out of place – but you have to use it until it stops working! It’s all about the savings and not the prestige!
Plan for your meals and purchases.
Yes, you yearn for some Pinoy style cooking every once in a while but it does not mean that you wouldn’t budget for your food and for your purchases! You have to be able to shop on a budget and if you can buy in bulk, it would be better because it would mean more discounts for you! And if you can even use coupons to save even more, why, do it because it’s going to lessen the money that comes out of your wallet when you shop!
Don’t use credit cards left and right.
Credit cards are good alright – but they also are a temptation that you do not have to use almost every time! Credit cards carry a huge interest load and any debts have to be paid up if you do not want them to accumulate and saddle you up for the long time. While they may be convenient you also have to use them judiciously. Use them but never be too dependent on them. You do not want credit card debt to rule your life!
Don’t think you are depriving yourself.
It’s all about the attitude. You should never think you are depriving yourself NOW – because you are saving for the LATER – for the FUTURE – your future and your family’s future. So get your head on straight and be wise about your spending habits!
Find yourself a side business.
Dare we say it again – yes! BE PRACTICAL! If you can find another job – say as a freelancer or if you can sell stuff online, do so because it can add to your savings stash in a hurry. Nowadays, it is better if you have several income streams that could add to your money – it is after all a way to improve your financial standing.
Get advice from financial experts.
Financial advisers could and would help you to get your finances in order – you would be given suggestions as to how to handle your money – where to invest them to get the highest returns and how to make them grow more and more. So, if you find a good financial adviser, make sure to get his services so you can extricate yourself from the wallows of poverty.
OFWs have to realize that their productive years are limited and their incomes are not set for life. They have to realize that even if they dock huge paydays – they have to be able to budget their money so they would have a sizable nest egg that they can utilize for their later years. It is also wise to be able to invest in instruments that would be giving them huge returns for their future.