Personal Finance Advice for Every OFW Overseas Filipino Workers

Posted by Grace under Personal Finance on February 18, 2017

A personal finance advice you can read today especially if you are working overseas. This personal finance tips and tricks is a must read. Overseas Filipino Workers must know money management. Most of the time, OFW fail to prepare their finances when they are going home. If you are an OFW, kindly share your experiences or even your personal story why you are still not having the amount of money you really want for yourself, for your kids and for your whole family.

According to the information I have read in WikiPedia, there are 10.2 million Filipinos overseas, working or living there. But are all OFW’s have decent life abroad? Why there are many Filipinos are taking risk in working abroad? It is because they are hoping for a “better life”. Overseas Filipino Workers are receiving high wages abroad compare if they only work in the Philippines.


Overseas Filipino Workers are looking for a good opportunity to send their families in the country to where they’re working. Countries like United States, New Zealand, Paris, Canada, Australia, Japan, Singapore and United Kingdom are some of the great countries where Filipinos are dreaming to work or live at.

Not all Overseas Filipino Workers are fortunate to have legal papers to work or live in their dream country. Some OFW’s are TNT’s (abbreviation for tago ng tago). Some OFWs are unfortunate to have a good employer. Some OFWs are not receiving enough wages abroad. But despite of these struggles and challenges, they keep on working abroad for their hopes and dreams — to give their families a better future.

If you are an OFW, you need (really need) a personal finance advice. Here in, I encourage my beloved countrymen to save money while they are capable in working and earning money.

Personal Finance Advice for Every OFW Overseas Filipino Workers

Image Credit: Michael via Flickr CC 2.0 – OFW Remittances

I got this picture on Flickr. I know this was a good news for every OFW Overseas Filipino workers. But, believe me and you know that not all OFW are lucky enough to get the life they deserved.

Personal Finance Advice for OFW

Here are some of the best personal finance advice I can share to every Overseas Filipino Workers;

  • Work hard abroad, but save hard while you are abroad. You don’t need to work abroad for a lifetime. You should dream to have enough money to work for you and replace your position so that you can live your desired lifestyle.
  • Saving money abroad is a very tough challenge. Every time you received your salary, you must “Pay Yourself First”, what does it mean? Pay Yourself First simply means setting aside for your financial future or for your retirement.
  • Have a personal financial goal. OFWs should think how much money they should have when they go home. They should become disciplined in handling their finances. Otherwise, they will always have the same story. They work abroad for nothing.
  • OFW can invest in the Philippine Stock Market, Philippine Mutual Funds or even in any Philippine banks that offers Unit Investment Trust Funds. If you are an OFW, leave a comment below so I can guide you better and give you personal financial advice.
  • Train yourself to save money while you are working abroad but be disciplined and handle your finances wisely when you go home. Don’t spend a lot. People may say your frugal and selfish, so what? it’s you who work hard, not them. That’s why, it is you who should know where to put your money not them. Put your money in a place where you know it will produce another money. Got that?
  • If you are sending money in the Philippines, tell your spouse or kids to save money. Tell them to not spend all the money you have sent. Tell them to invest in the stock market, mutual funds or even in UITF offered by many large bank in the Philippines like BDO, Metrobank, BPI and Security Bank.

That’s the personal financial advice I can share right now to every Overseas Filipino Workers. I am a Filipino Blogger. I am so sad that many of my visitors are Americans not Filipinos because they (Americans) are very concern in planning for their retirement and planning their financial future. If you have any comments, questions or other useful personal finance advice for OFW’s, kindly leave them in the comment box. Stay tuned to for more personal finance topics.

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