The Global Filipino Classifieds

Money Management Tips!

Posted on: March 10, 2012

Smart Money Management for OFWs

By: Alvin T. Tabañag

The families of many OFWs continue to suffer from financial problems even though they have been working and earning well abroad for many years.  Ang isang dahilan kung bakit hindi pa rin makaahon-ahon sa hirap ang pamilya ng maraming OFWs ay ang maling paghawak nila ng kinikitang pera.  Many spend as if money will not stop flowing.  Remember that your work as an OFW is supposed to be temporary only.  Naisip mo na ba kung ano ang magiging buhay mo at ng iyong pamilya kapag hindi ka na OFW at tumigil na ang pagpasok ng malaking kita?  Do not let your hard-earned money go to waste by following these tips.

Set long-term financial goals.  Many OFWs and their families spend recklessly and do not save because they don’t have any long-term goals.   Ang mahalaga lang sa kanila ay mag-enjoy ng todo-todo ngayon.  Having clear goals will help you realize that you need to make little sacrifices now so that you can have a brighter and more secure future.

Save regularly.  Make it a habit to save 10-20% of your monthly income.  Kung kaya mo ang 30% o higit pa, mas maganda.  Set aside this money even before you start spending.  Huwag ihuli ang savings dahil kadalasan walang natitira pagkatapos mong gumastos.   Try to save as much as you can while your income is still good.

Spend wisely.  You don’t have to spend as much as you want just because you are earning well.  Tandaan na may hangganan ang maganda mong kita kaya dapat maging responsable sa paggastos.  Avoid spending too much on things that are not really important like expensive appliances, furniture and high-tech gadgets.  Matutong mamuhay ng simple para hindi maubos ang pera sa walang kwentang bagay.

Teach your family to save and control spending.  Kahit napakagaling mo pang mag-ipon at magtipid, walang pupuntahan ang pinaghirapan mo kung ang asawa at mga anak mo ay sobra-sobra naman kung gumastos. Do not spoil your family.  Huwag ibigay lahat na hinihiling lalo na kung hindi naman talaga kailangan.

Don’t send all your money back home.  Lalo na kung walang disiplina sa paggastos ang iyong pamilya. If you are not confident that your family can handle the money well then it’s better that you keep part of your income and save it yourself.   Ipunin mo ito sa isang account dito sa Japan o ideposit sa account sa Pinas na nakapangalan sa ‘yo at ikaw lang ang may access.

Invest your savings. Hindi sapat na ilagay mo lang ang iyong pera sa isang savings account na napakaliit ang tubo.  You need to make your money grow through smart investing so you can reach your goals faster and retire more comfortably.  Ang ilan sa investments na maaring paglagyan ng iyong pera ay ang long-term time deposit accounts, mutual funds, UITFs, life insurance, pre-need plans, stocks, real estate at sariling negosyo.

(Read more money management articles at www.pinoysmartsavers.com.  For your questions send email to alvin@pinoysmartsavers.com)

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