Here’s an unsolicited advise to all OFWs across the globe: SAVE YOUR MONEY. If you are an OFW, and you always feel like “I earn a lot of money anyway, why not spend it”, but every end of the year you feel like “hey where did my savings for this year go???” Then, I think this article is for you. Below are some type of spenders, which are actually applicable to anyone, not just OFWs. But, hey, that’s my title so let’s just stick with is written, ok? I enumerated them for you, so you can classify yourself in which type you belong to. My aim is to wake you up from your unacceptable spending habits. I hope to succeed, somehow.
Disclaimer: This article is for some OFWs, which are more of a spender rather than a saver. FYI, this is applicable to some, but definitely not all. I come in peace.
Here are the spending habits of SOME OFWs:
- THE TRAVEL SPENDER. They are the OFWs who save their money so they can travel later on and immediately post them on their FB walls. There’s nothing wrong with it, if: (1) you’ve settled all your debts. Remember, they can see your fb wall too, and it’s not really good to publicize how well-off you are on social media but go on asking for monetary help behind it. (2) You have enough savings. It should be large enough to be sure that you won’t go asking for somebody’s help again in the future. Note: If a large portion of your savings only go to travel expenses, you may have to re-evaluate how you spend. It’s true that collecting memories are needed for OFWs once they are reunited with their family. But, remember collecting memories doesn’t always means travelling out of town or out of the country with your family. Sometimes, it’s about spending time with your kids or parents at home through karaoke or game night. Be creative!
- THE GADGET SPENDER. This is the type of spender wherein a large portion of their savings go to gadgets such as mobile phones, tablets, desktop computers, laptops and other electronic devices. They are the tech-savvy type of OFWs. This would have been acceptable, if and only if the OFW has enough money for an emergency funds in case unexpected expenses occur. In addition, you need to ask yourself this question too “will I still love this gadget after 5 years, especially when it’s no longer considered trendy?”
- THE CLOTHES AND ACCESSORIES SPENDER. I think this is more of a laid back and acceptable type of spender, when compared to gadgets and travels which surely cost a lot. UNLESS, if you’re spending on accessories such as pieces of jewelry, signature watches and bags. Tsk tsk.
Before I end this article, I would just like to continue my unsolicited advise. To all OFWs, please SAVE your money and INVEST it on something useful, something that is income-generating. Sure, it is tempting to enjoy your hard earned cash right away, while you experience home sickness. Remember, your jobs abroad won’t be always there. Someday, you will have to return in our country due to ended-contracts or retirements. Make sure that when the time comes, you will have enough to be financially free. So, set your priorities straight and allot funds for your future. I repeat, SAVE first, INVEST, then SPEND.
So there, cheers! Comments and suggestions are open to anyone who has a relevant insight about this matter.